Serum (SRM) Stays Above $0.8 Despite Recent Fluctuations
Even though the price of Serum (SRM) has fluctuated recently, it has still managed to stay above $0.8.
The price of Serum (SRM) has remained range-bound in recent weeks, struggling against tether (USDT). The price of Bitcoin (BTC) has fluctuated between $19,500 and $20,000 in recent weeks, affecting most altcoins, including Serum. However, the price of Serum remains relatively stable compared to other altcoins, indicating that it may be a good investment opportunity in the current market conditions.
SRM Price Analysis: Time to Buy?
The price of SRM has had difficulty replicating its recent bullish move, which saw the price rally to $3.5. Some believe that the market is still bullish on SRM, while others think that the recent rally was simply a blip on the radar.
With the current indicators, SRM could be poised to rally from its weekly low of $0.8 to around $1.2. This would be a welcome development for the company, which has struggled to stay afloat after falling from an all-time high of $13. However, it is important to note that the price could continue to fall, and a major bounce is not guaranteed.
The SRM price is currently encountering resistance at $1; if the price flips this region, we may see the price rise to new heights. This would be a positive development for SRM holders, as it could potentially lead to significant gains.
If the price of SRM continues to rise, it could break through its first resistance level at $1, with increased buying volume. This could lead to further gains for the cryptocurrency.
The weekly resistance for the price of SRM remains at $1. This level has been tested multiple times and has held firm.
The price of SRM remains unchanged this week, at $0.75. This price is supported by weekly demand for the resource.
SRM Price Analysis: Daily Chart Shows Promise
The price of SRM is currently stuck in a range channel, but a break above this bullish channel could confirm its bullish strength and send it higher.
It is clear that the SRM price is currently struggling to regain its previous bullish pattern. This is evident from the fact that it is trading below both the 50 and 200 Exponential Moving Averages (EMAs) on a daily basis. Prices of $0.9 and $1.6 correspond to the 50 and 200 EMA acting as resistance levels to the SRM price.
It's been a tough few days for Bitcoin and the cryptocurrency market, with prices falling sharply across the board. However, one coin that has been holding its own is Stellar (XLM).
The SRM price is currently sitting at $0.75 and is expected to remain around this level for the foreseeable future.
SRM Price Analysis: 4H Chart
The price of SRM looks set to continue its upward momentum in the near-term, after forming a hidden bullish divergence and bouncing off its downtrend line. The price has already rallied from $0.74 to $0.81, and it looks like there is still more upside potential in the coming hours.
The price of SRM is currently trading above the 50 EMA but below the 200 EMA. The 50 EMA is currently acting as support for the price, while the 200 EMA is acting as resistance. The price at the 50 EMA is $0.78, while the price at the 200 EMA is $0.85.
In order for SRM to have a chance of trending higher to a price of $1, it must break above the 200 EMA with significant volume.
The Relative Strength Index (RSI) for SRM is currently sitting at below 55 on the 4H chart. This indicates that there is moderate buy order volume for SRM, which could mean that the price is about to go up.
The four-hourly resistance for the SRM price is $0.85. This is a significant level that the price will need to overcome in order to continue its upward trend.
SRM prices will be supported at $0.75 per four hours.