Casper Price Prediction: Is CSPR Gearing Up for a $0.10 Spike?

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Casper (CSPR) is on course north after the bulls took over during the September 12 trading session. The move followed a liquidity grab, collecting all the untapped liquidity under the $0.0337 support level.

Meanwhile, the Casper network appeared during the Token2049 event in Singapore. The event served to map out the crypto industry’s future, with executives from different projects coming together with developers and creators. With more than 10,000 people in attendance, Token2049 was a huge success, with Casper becoming one of the sponsors.

https://twitter.com/GothamSenator/status/1703685458205577705

This demonstrated the project’s commitment to the industry, even as it endeavors to add value for developers and creators. That aside, Casper also made it to CoinMarketCap’s list of top cryptocurrency performers in the last three days.

https://twitter.com/HODLstarter/status/1703695378946699427

Hodlers and analysts are also very bullish on Casper, with the lower timeframes already giving bull run-like vibes.

$CSPR 5 minutes #csprusdt #CasperLabs https://t.co/sKiZwpLqHX pic.twitter.com/A8V3KOJA3y

— Best Trading Indicator (@bti_trading) September 18, 2023

The optimism goes beyond a $1.0000 price potential for CSPR, with experts urging traders to focus more on altcoins than Bitcoin (BTC).

Peak Price Potentials for the next Bull Run! 🚀

@thenovacrypto is an easy 100x$BTC $130,000$ETH $8k$QNT $2k$INJ $120$EGLD $500$WOO $3$CSPR $1$AZERO $40$CHNG $3$DIONE $0.5$RIO $20$TRIAS $70$LOOP $3$VRA $0.2$KAS $1$NEXA $0.001$ADA $5$XRP $3$ATOR $20$PEPE…

— DreamHacker.Eth 🥷 ₿ (∎, ∆) 💜 MONAD 🐉 (@DreamHackerSK) September 18, 2023

Casper Price Forecast With $0.1 On The Horizon

At the time of writing, Casper’s price is $0.0349, a daily rise of almost 3% and up nearly 12% over the last five days. The token has recorded higher highs during this time, nurturing an uptrend that has vindicated CSPR from the foothold of the bearish descending parallel channel at $0.0337.

Momentum indicators such as the Relative Strength Index (RSI) and the Awesome Oscillator (AO) point to a bullish picture. Specifically, the RSI above 50 shows strong buyer power, with its northbound trajectory suggesting rising momentum. If bulls keep their profit-taking appetite in check, Casper’s price could ultimately make its $0.1000 target long-term.

Increased buying pressure could send Casper’s price to the $0.0400 psychological level, with a forecasted target of $0.0416. This would indicate a 20% climb above current levels. More optimistically, however, and for the short term, the likely target for CSPR is $0.0370, a 5% climb based on the broader market outlook painted by Bitcoin price. This would be the conservative stop-loss point for shorts.

The Parabolic SAR indicator tracking Casper’s price from the underside is a good sign, acts as support at $0.0313, and points to bullish momentum.

Casper price — TradingView: CSPR/USDT 1-day chart

On the flip side

Conversely, early profit-taking threatens Casper’s price, likely to plunge it back into the confines of the descending channel. A decisive move below the channel’s midline at the $0.0300 psychological level would confirm the downtrend, likely flipping the Parabolic SAR back to a resistance level.

In the dire case, the downtrend could extrapolate, sending Casper’s price toward the channel’s lower boundary to test the $0.0262 support level. Such a move would constitute a 25% downswing. Longs should probably place their stop losses at $0.0313.

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