Casper Price got strength on Monday when it collected more than 130%, making it one of the best performing tokens in crypto.
CSPR, the native token of the Casper network, scored an intraday height of $ 0.023 on April 28, the highest point since December 9 last year. Of the lowest level this year, token has now risen more than 180%. Market capitalization climbed to around $ 215 million, while the daily trade volume exploded by almost 2,500% compared to the previous day and around $ 115 million floating.
The increase coincided with a strong increase in the open interest in the Futures, which reached a highest point in 5 months of $ 6.64 million, far from around $ 836K just a month ago, per facts van Coinglass. The simultaneous price increase and open interest usually indicates the strengthening of the bullish sentiment.
The financing rates have also remained positive for the past six days, which means that traders who go for a long time pay less than those who bet against token, a clear bullish signal.
In the meantime, it appears that data on chains show that more holders move their tokens of exchanges. In just the past two days, more than $ 1.7 million left CSPR trading platforms. Exchange outlets are usually a bullish sign, because they suggest that investors move their tokens to self -spice portfolios, reducing immediate sales pressure.
CSPR’s profit today can mainly be attributed to an increase in investor interest prior to his Casper 2.0 -upgrade, planned for 6 May. This update is intended to stimulate the speed, security and developer experience of the network.
The team called it “a jump forward for the Casper network and a determining step towards bridging the Real-World economy with web3” in a April 22 after On X.
Moreover, community sensing is stimulated by broader changes in the leadership of the project.
According to For a member of the community, Nick, the team was associated with previous delays and unfulfilled promises. He believes that the network is under stronger management, with renewed focus and implementation, after positive impressions of interviews that were conducted at the end of last year.
The crypto community looks like Bullish on CSPR, with the social sentiment of Coinmarketcap with 92% of the traders who expect profit in the short term, while the social sentiment has been positively reversed. Growing traction among investors has also pushed the Altcoin to be on Google.
CSPR -Price analysis
On the 1-day USDT graph, CSPR recently broke from a descending parallel channel in which it had been stuck in the past five months. The outbreak of a pattern such as this usually means a trend removal and a new movement can be higher in the cards.
The MacD lines have also gone up, which shows a growing bullish momentum.
Moreover, the Aroon is up to 100%, while the Aroon is down 0% and has a clear dominance of buyers.
That is why CSPR seems ready to gather to $ 0.024, are high in December and an important resistance that it did not break twice in the second half of 2024. The goal is around 45% above the current price.
However, the RSI has remained in Overbough Territorium for the past two days, which suggests that it could be token for a short -term cooling period before the next leg is higher. At the time of Press, Casper Network (CSPR) was traded at $ 0.016 per coin.
Publication: This article does not represent investment advice. The content and materials on this page are only for educational purposes.
