CSPR price is struggling to stay above key support as the price needs to sustain above $0.041 to sustain its upside run.
CSPR continues to struggle as a hidden bearish divergence appears on the four-hour time frame, suggesting a change in trend could be imminent.
CSPR price continues to look bullish as the price is trading above the 50 exponential moving average (EMA) on the daily time frame.
Casper Network (CSPR) has gained ground in recent weeks, with the price rising from its weekly low to a high of $0.055, where it found rejection on an attempted uptrend. Despite the uncertainty that has fallen over the crypto market in recent weeks, as the price of Bitcoin (BTC) and other crypto assets such as Ethereum (ETH) have seen a slight pullback in their price movement, the price of Casper Network ( CSPR) has shown strength, producing green moments for traders who have invested in this asset. (OKX data)
Casper Network (CSPR) price analysis on the weekly chart.
The bear market has been good and favorable for some projects, considering that they entered the market at the height of the event. This has affected its price negatively compared to other crypto assets that enjoyed a rally creating a series of all-time highs.
Casper Network (CSPR) has not enjoyed its price due to the bear market, but in the last few weeks it showed some great price movement, with so many traders and investors interested in its projects after rising over 90% from its cycle low. .
CSPR price fell from a high of $27 on the weekly time frame to a low of $0.05; CSPR price bounced from this region to a high of $0.2 where the price was rejected as it failed to break out of this region.
CSPR price faced rejection as price declined to its cycle low of $0.02, but price found more buy orders as it looked like a demand zone for CSPR as it surged from its all-time low of $ 0.02 to a maximum of $0.055.
Weekly resistance for CSPR price – $0.055.
Weekly support for CSPR price – $0.036.
CSPR price analysis on the daily chart (1D)
Daily CSPR Price Chart | Source: CSPRUSDT at Tradingview.com
On the daily time frame, CSPR price continued to look bullish as the price was rejected as the price attempted to rally past $0.055. CSPR price lost its support at $0.046, which corresponds to the 200 EMA, as the price could be heading towards its key support at $0.041.
CSPR price needs to keep its price above $0.041, acting as support for the price; If the CSPR price fails to hold this support, we could see the price move lower.
CSPR price on the four-hour time frame formed a hidden bearish divergence indicating a possible pullback to key support, which is healthy for the price to trend higher.
Daily resistance for CSPR price – $0.55.
Daily support for CSPR price: $0.44-$0.38.
Financialwatch Featured Image, Tradingview Charts
This post Casper Network (CSPR) pulls back to key support $0.041, are bulls still in control?
was published first on https://www.newsbtc.com/analysis/casper-network-cspr-retraces-to-key-support-0-041-are-bulls-still-in-control/