Serum/USD topped the daily mover’s list with a moderate movement of about 4% today. This performance is commendable considering the current situation in the crypto market. Consequently, the Serum movement today has afforded the crypto of reaching the price level of $1.107.
Serum Current Price: $1.107
Serum Market Cap: 288.9 million
Serum Total Supply: 1.1 billion
Serum Rank: 98
Resistance: $1.104, $1.105, $1.107
Support: $1.100, $1.090, $1.080
Serum/USD Price Prediction: Serum Achieving Moderate Profits
At this point, the Serum/USD daily chart portrays the moderate value ascension. And, this has made it the better of all other cryptos. Furthermore, looking at this chart we can perceive that the 9/21 MA (Moving Average) has been able to pass themselves below the price movement. However, the subsequent crossing of these lines below the price motion only delivered minimal thrust to Serum/USD’s value. In addition, the quicker and slower MA lines are now moving apart, which indicates less likelihood of further value increase. Therefore, the Serum may find new resistance at $1.200 at most.
Additionally, the SRSI (Stochastic Relative Strength Index) indicator, shows that the crypto has reached the overbought zone. Also, a critical studying of this indicator shows that the value increase has reached its terminal stage. This is revealed in the behavior of the indicator lines, as they remain intertwined.
Serum/USD Price Prediction: Serum Price Uptrend May be Weakening
From the shorter time frame chart of 4 hours, it can be deduced that the strength of this uptrend is reducing. On the chart, most of the last four candlesticks have been engulfed by the MA lines. It can be seen that just the last candle passed above the two MA lines. Should the SRSI lines cross each other for a trend reversal, this could bring Serum to a lower support of $1.080. Traders who bought the crypto earlier on around $0.800 take a profit if the price falls below the $1.080 level.
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Image and article originally from insidebitcoins.com. Read the original article here.