Casper price prediction: CSPR outlook after massive April?

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  • The Casper Network price surged over 60% in April to reach a high of $0.060.
  • At the time of writing, CSPR was trading at around $0.059, up almost 6% over the past 24 hours.
  • While CSPR price is above key support levels, here is the price outlook for Casper Networks going into May.

Casper Networks price surged over 60% in April as the core CSPR price surged above $0.060. of crypto currency worth It is currently around $0.059, up 6% over the past 24 hours and up almost 16% over the past seven days.

However, while Casper Token has been one of the standout performers over the past month, it is away from its peak of $1.33 by some great distance. According to CoinGecko data, CSPR reached its all-time low of $0.022 in June 2022, which means traders who took positions at these levels made a 164% return on their investments.

CSPR at current levels is -95% from May 2021 all time high.

What is Casper Network (CSPR)?

Casper Networks, a Layer 1 blockchain network targeted towards enterprise adoption of blockchain technology. CSPR is the governance token of the Casper blockchain, whose mainnet was launched in 2021.

As a native token, CSPR has several roles in the Casper ecosystem, including network fees, staking rewards, and payments through exchanges.

Casper Networks has seen a number of projects built on top of its Proof-of-Stake blockchain. one of the projects smart contract Platform Layer 2 protocol is Metis which is migrated Ethereum To Casper. Metis seeks to promote the development of Decentralized Autonomous Companies (DACs).

Another project is the patent encryption platform IPwe, which aims to build a decentralized database system for patent management and licensing. There is also ACDX, a digital asset exchange for structured products and derivatives trading.

Casper Price Prediction: What Next for CSPR?

CSPR price 4 hour chart. Source: trading view

Casper price may continue to rise in May and potentially break above $0.1. This approach will materialize if CSPR price consolidates above $0.065, creating fresh momentum for a breakout above $0.080.

Above the $0.10 level, a key resistance will be near $0.13, with bullish momentum casper price prediction of $0.20 in May.

On the downside, the better performance of CSPR in the past month could make traders eye profit-taking positions. Such a scenario would definitely reduce the bullish momentum and lead to a downside action with a possible drop towards $0.025.

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