Why Casper Enterprise Friendly PoW Coin is 15% Higher Today at $0.039 - Time to Buy?
CSPR's price has exploded in recent days and is currently up 8% in the past 24 hours to trade at $0.03924. What's driving this upward trend and will Casper's price continue to rise – or is this just a temporary surge?
The positive sentiment in the overall cryptocurrency market, along with bets on the Fed easing rate hikes in early 2023, are cited as potential factors driving the rally.
Additionally, recent milestones reached by the Casper Network, such as over 100,000 individual CSPR holders and 100 network validators, could also be contributing to the upward trend.
Casper Network is also currently facilitating the Blockchain Hub conference at Davos with Binance, with Medha Parlikar, CTO and Co-Founder of Casper Labs, appearing alongside Binance CEO Changpeng Zhao. This high profile event is expected to raise the visibility of Casper, which could also be contributing to the price spike.
Finally, the Casper Network also has plans to expand its partnerships with IBM and Hyperledger, recently hinted at a forthcoming partnership announcement with a Fortune 100 company, and mentioned an upgrade to Casper 2.0 will be coming in Q3 of this year – further positive news for Casper's price.
The 20-day EMA is at $0.0320, the 50-day EMA is at $0.0307, the 100-day EMA is at $0.0315, and the 200-day EMA is currently at $0.0366. With CSPR's price currently trading at $0.03928, it has retaken the major EMAs, which indicates that the short to long-term bias for this coin is bullish.
The RSI is at 79.13, indicating that the coin is currently in overbought territory. After its initial run-up, CSPR's RSI bounced off the significant level of 70 after retracing from January 15 to 16. With the RSI currently at an oversold level and printing a long
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