The price of Serum has been on a steady rise since the beginning of 2019. With an increasing amount of transactions and trading, we can expect to see a large increase in the value of SRM as well as other cryptocurrencies in the future.
In the future, SRM will be worth $15. This is a bold prediction for SRM and it will require a lot of work to get there. Read more in detail here: solana price prediction.
- The price range for a bullish Serum SRM forecast is $5.46 to $12.57.
- The price of SRM may potentially exceed $15 in the near future.
- $1.45 is the SRM pessimistic market price forecast for 2021.
We utilize data, price trends, ADX, and other information about SRM to evaluate the cryptocurrency’s future movement in Serum SRM price forecast 2021.
Serum ($SRM) is a game-changing cryptocurrency that will reconstruct the DeFi network and the decentralized derivatives market. It features a user-friendly UI, complete liquidity, and cross-chain connectivity, as well as a full limit order book Dex.
Serum is a decentralized exchange (DEX) and ecosystem that enables decentralized finance to operate at unprecedented speeds and with minimal transaction costs. It’s built on Solana and doesn’t need any licenses.
Serum’s Current Market Situation (SRM)
The price of Serum coin is $4.02, according to Coingecko, with a 24-hour trading volume of $36,524,671 at the time of writing. SRM, on the other hand, has fallen to 5.41 percent in the past 24 hours.
Furthermore, there are 50,000,000 SRM in circulation. SRM is currently traded on Binance, OKEx, FTX, HitBTC, and CoinTiger, among other cryptocurrency exchanges.
Price Forecast for Serum SRM in 2021
On CoinGecko, Serum (SRM) is currently ranked 191st. The price of serum SRM in 2021 is forecasted using a daily time period, as shown below.
During a bullish rise, the ascending scallops pattern may be seen. This pattern seems to be shaped like a J with a little rightward slant. An upward breakout is one that occurs above the pattern’s highest high, while a downward breakout occurs below the pattern’s lowest low.
Furthermore, the hypothesis explains why there is a price decrease at the commencement of the pattern. The descent is smaller, and it reverses, giving the bottom a broader appearance. The price continues to climb after the reversal, and the whole pattern resembles a slanted J.
SRM is now wagging at its broader bottom, with an entry point of $3.08. SRM will continue to climb after this minor price decrease, giving it the appearance of a slanted J. SRM will soon hit $7.32 if the current trend continues. SRM’s price may fall below $3.75 if the trend reverses.
Support and Resistance Level of Serum (SRM)
The chart below depicts Serum’s support and resistance levels (SRM).
Support and Resistance Levels for SRM/USDT (Source: Trading view)
The resistance and support levels of SRM are clearly seen in the above two time periods.
- $5.46 is the first level of resistance.
- Level 2 Resistance – $8.10
- Level 3 Resistance – $12.57
- Level 1 Support – $3.75
- $2.30 for Level 2 Support
- $1.45 for Level 3 Support
SRM’s bullish performance during the preceding month is shown in the chart. However, if the trend continues upward, SRM has a good possibility of breaking over the $12.57 resistance level shortly. On the other hand, if the trend reversed, SRM might fall below $1.45, indicating a negative indication.
Average Directional Index of Serum (SRM) (ADX)
Let’s have a look at the Average Directional Index of SRM (ADX). The ADX, in particular, aids traders in assessing the strength of a trend as opposed to its direction. It may also be used to see whether the market is shifting or if a new trend is forming. However, it is connected to the Directional Movement Index (DMI).
The oscillator also has a range of 0 to 100. Furthermore, a high number indicates a strong trend, while a low value indicates a weak trend. It’s also often used in conjunction with directional indicators.
ADX SRM/USDT (Source:Trading View)
The ADX of SRM made an uptrend crossing towards the end of April, as seen in the chart above. The ADX range is now at 15, indicating a weak trend.
The SRM is one of the cryptos that has managed to hold its footing in a negative market. Our long-term SRM price forecast for 2021 is also optimistic. This year, it has a strong probability of surpassing its current all-time high (ATH) of $12.98. This, however, will only happen if a number of prior psychological obstacles are overcome.
Furthermore, with the advances and updates to the SRM ecosystem, SRM’s performance is expected to increase to $12.57 in the near future. However, if investors think SRM is a solid investment in 2021, it may reach $15.
Disclaimer: The views stated in this graph are entirely those of the author. It should not be construed as investment advice. Before investing, TheNewsCrypto staff advises everyone to conduct their own research.
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