CSPR outlook after massive April?

  • Casper Network’s price jumped more than 60% in April to a high of $0.060.
  • CSPR is trading around $0.059 at the time of writing, up around 6% over the past 24 hours.
  • While CSPR prices are above key support levels, here’s the Casper Network price outlook going into May:

Casper Network prices increased by more than 60% in April as the native CSPR value exceeded $0.060. The cryptocurrency price is currently around $0.059, up 6% over the last 24 hours and up around 16% over the past 7 days.

However, Casper token, which was one of the standout performers last month, remains well away from its $1.33 peak. According to CoinGecko data, the CSPR will hit his all-time low of $0.022 in June 2022. This means that a trader who took a position at these levels increased his investment by 164%.

At current levels, CSPR is down 95% from the all-time high reached in May 2021.

What is Casper Networks (CSPR)?

Casper Network is a layer 1 blockchain network targeted for enterprise adoption of blockchain technology. CSPR is the governance token of the Casper blockchain with mainnet launch in 2021.

As a native token, CSPR serves multiple roles within the Casper ecosystem, including network fees, reward staking, and payments as a medium of exchange.

Casper Network has seen multiple projects built on the Proof of Stake blockchain. One of the smart contract platform projects is the layer 2 protocol Metis, which migrated from Ethereum to Casper. Metis aims to boost the development of decentralized autonomous enterprises (DAC).

Another project is the patent encryption platform IPwe, which aims to create a distributed 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’s Next for CSPR?

4-hour chart of CSPR price. sauce: TradingView

Casper’s price will continue to climb until May, and may exceed $0.1. This prospect will materialize if the CSPR price rises above his $0.065 level and builds new momentum to break out of $0.080.

Above $0.10, there is a major resistance near $0.13, which is a bullish move. Casper Price Prediction $0.20 in May.

On the downside, the CSPR’s outperformance last month may cause traders to focus on profit-taking trades. Such a scenario would undoubtedly dampen bullish momentum and lead to downside action with a potential drop to $0.025.

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