- Casper Network’s price increased by over 60% in April. It reached a maximum of $0.060.
- CSPR was trading at $0.059 as of the time this article was written, up about 6% in the last 24 hours.
- While CSPR price is above key support level, here’s the price outlook for Casper Network going into May.
Casper Network rose by over 60% in April when the value CSPR soared above $0.060. The cryptocurrency’s price currently sits around $0.059, up 6% in the past 24 hours and nearly 16% higher in the past seven days.
Despite the fact that the Casper coin is one of its best performers in the past month, the token still remains a long way off from its $1.33 peak. According to CoinGecko’s data, CSPR has reached its all-time lowest price of $0.022 by June 2022. This indicates that traders who purchased CSPR at this level have made 164% on their investment.
CSPR levels at present are -95% below the highest level reached in May of 2021.
What is Casper Network?
Casper Network – a layer-1 blockchain network designed for enterprises to adopt blockchain technology. CSPR, the Casper Blockchain’s governance token, launched its mainnet in 2021.
CSPR is a native token that plays multiple roles in Casper’s ecosystem. It can be used to pay network fees, receive staking rewards, or act as a payment medium.
Casper Network is a blockchain that has multiple projects running on it. Metis, a layer 2 protocol that was migrated from Ethereum onto Casper’s smart contracts platform, is one of the projects. Metis aims at boosting the development of Decentralized Autonomous Companies.
IPwe is a patent encryption platform that aims to create a decentralised database for managing and licensing patents. There’s also ACDX, a digital assets exchange for structured products and derivatives trading.
Casper Price Prediction: What Next for CSPR
CSPR 4-hour price chart. Source: TradingView
Casper’s price could continue to rise into May and potentially break above $0.1. This forecast will be realized if CSPR’s price consolidates above $0.055, building momentum for a break above $0.080.
Above the $0.10 mark, resistance will be at around $0.13. A bullish Casper prediction for May is $0.20.
On the downside, CSPR’s outperformance over the past month could see traders eye profit taking deals. A scenario like this will certainly dent bullish momentum. It could result in a downward movement, possibly to $0.025.
