Crypterium prices have dropped by more than 50 per cent since hitting the dollar mark on March 24. However, today’s trading session looks poised to reverse the bearish trend. This is after the prices rose by more than 17 per cent in the early trading session before dropping to the current gains of about eight per cent. The prices, however, looks poised to continue with the upward trend, as will be shown in the analysis below.
Why is Crypterium poised to rise?
The month of March has seen Crypterium prices rise surge by over 700 per cent. Much of this rise has come amidst a barrage of positive news that has seen investors gain confidence in the cryptocurrency.
In March, Crypterium was listed on almost all major cryptocurrency exchanges. This has included listings on Coinbase, Huobi and Crypto.com. The listing has also seen the volume of Crypterium traded rise exponentially as more investors and users can easily buy the cryptocurrency now.
The day to day usage of cryptocurrency has also allowed cryptocurrency users who mostly sit on the fence to invest in Crypterium. This is because the token aims to stimulate token holders to use cryptocurrency in their daily lives. The company behind the token also use it to attract new users to their platforms, such as the MetaFi ecosystem.
Crypterium Price Prediction
Looking at the four-hour chart, the prices of Crypterium have been on a steady decline since hitting the dollar mark. However, the last few candlesticks are showing signs of recovery. The chart also shows the William Alligator indicator showing signs that the cryptocurrency may be reversing to a bullish trend.
Therefore, my Crypterium price prediction is the prices will be trading above the $0.58 resistance level in the coming hours or days. My analysis also shows a high chance that the current upward trend will continue past the resistance level. If that happens, there is a high likelihood that the prices may be trading at around the dollar mark in the coming days.