Serum (SRM) Price Looks Set After Hibernation, Can Price Go To $1?
08 Setembro 2022 - 7:03PM
NEWSBTC
Serum (SRM) has struggled against tether (USDT) in recent weeks,
rising above $0.8 as the price of Serum (SRM) remains range-bound.
For weeks, the price of Bitcoin (BTC) fluctuated between $19,500
and $20,000, with the price stalling on the next movement. Most
altcoins, including Serum, have been affected by this choppy
movement (SRM). (Source: Binance) Related Reading: Polkadot Watch:
Will DOT Succumb To Sharp Sell-off In Next Few Days? Serum (SRM)
Price Analysis On The Weekly Chart The price of SRM has had
difficulty replicating its recent bullish move, which saw the price
rally to $3.5 as the price rallied with a good bullish sentiment.
SRM has struggled to stay afloat after falling from an all-time
high of $13, as the price continues to fall with no sign of a major
bounce. With the current indicators, SRM could be poised to rally
from its weekly low of $0.8 to around $1.2. The price of SRM is
encountering resistance at $1; if the price of SRM flips this
region, we may see the price rise to new heights. If the price of
SRM maintains this bullish structure, we could see the price of SRM
breaking off of its first resistance at $1 with more buy
volumes. Weekly resistance for the price of SRM – $1. Weekly
support for the price of SRM – $0.75. Price Analysis Of SRM On The
Daily (1D) Chart After rallying from its daily low, the price of
SRM was rejected and is struggling to break out in a range channel.
A break above this bullish channel on the daily timeframe will
confirm its bullish strength to trend higher. The price of SRM has
since struggled to regain the bullish pattern as it trades below
the 50 and 200 Exponential Moving Averages (EMA) daily. The prices
at $0.9 and $1.6 correspond to the 50 and 200 EMA acting as
resistance to the SRM price. Daily resistance for the SRM price –
$0.9. Daily support for the SRM price – $0.75. SRM Price Analysis
On The Four-Hourly (4H) Chart In the 4H timeframe, the price of SRM
remains bullish after forming a hidden bullish divergence, with the
price bouncing off its downtrend line and rallying from $0.74 to
$0.81. The price of SRM is trading above the 50 EMA but below the
200 EMA. The price at the 50 EMA is $0.78 and acts as support,
while the price at the 200 EMA is $0.85 and acts as resistance. SRM
must break above the 200 EMA with significant volume in order to
have a chance of trending higher to a price of $1. The Relative
Strength Index (RSI) for SRM is below 55 on the 4H chart,
indicating a moderate buy order volume SRM price. Four-Hourly
resistance for the SRM price – $0.85. Four-Hourly support for the
SRM price – $0.75. Related Reading: Bitcoin Price Drops 6% While
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