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• CSPR’s value struggles to carry above key help as the worth wants to carry above $0.041 to keep up its bullish run. 
• CSPR continues to battle as a hidden bearish divergence seems within the four-hourly timeframe suggesting a change in development may very well be imminent. 
• The value of CSPR continues to look bullish as value trades above the 50 Exponential Moving Average (EMA) on the every day timeframe. 

Casper Network (CSPR) has gained traction in latest weeks, with the worth rallying from its weekly low to a excessive of $0.055, the place it met rejection in an try to development greater. Despite the uncertainty that has befallen the crypto market in latest weeks, as the worth of Bitcoin (BTC) and different crypto belongings resembling Ethereum (ETH) have seen a slight setback of their value motion, the worth of Casper Network (CSPR) has proven power, producing inexperienced moments for merchants who’ve invested on this asset. (Data from OKX)

Casper Network (CSPR) Price Analysis On The Weekly Chart.

The bear market has been good and favorable for some tasks, contemplating they got here into the market on the thick of the occasion. This has affected their value negatively in comparison with different crypto belongings that loved a rally making a sequence of all-time highs.

Casper Network (CSPR) hasn’t loved its value as a result of bear market, however in latest weeks confirmed some nice value motion, with so many merchants and traders turning into excited about its tasks after rising by over 90% from its cycle-low.

CSPR’s value fell from a excessive of $27 on the weekly timeframe to a low of $0.05; the worth of CSPR bounced from this area to a excessive of $0.2, the place the worth was rejected because it failed to interrupt above this area. 

The value of CSPR confronted rejection as the worth declined to its cycle low of $0.02, however the value discovered extra purchase orders as this appeared like a requirement zone for CSPR because it rallied from its all-time low of $0.02 to a excessive of $0.055.

Weekly resistance for the worth of CSPR – $0.055.

Weekly help for the worth of CSPR – $0.036.

Price Analysis Of CSPR On The Daily (1D) Chart

In the every day timeframe, the worth of CSPR continued to look bullish as the worth was rejected as the worth tried to rally previous $0.055. The value of CSPR misplaced its help of $0.046, which corresponds to the 200 EMA, as the worth may very well be headed to its key help at $0.041. 

The value of CSPR wants to carry its value above $0.041, performing as help for the worth; if the worth of CSPR fails to carry this help, we might see the worth going decrease.

CSPR’s value on the four-hourly timeframe shaped a hidden bearish divergence indicating a attainable retracement to key help, which is wholesome for the worth to development greater.

Daily resistance for the CSPR value – $0.55.

Daily help for the CSPR value – $0.44-$0.38.

Featured Image From Financialwatch, Charts From Tradingview