RARE Price Prediction: Why SuperRare is Likely to Recover

Rare cryptocurrency has been trading on the market since August 2021. Since its launch, the Rare price has continued to plummet, trading today at only $0.68. Rare is the governance token of SuperRare, a non-fungible token (NFTs) marketplace that bills itself as “Instagram meets Christie’s,”. The platform started as a centralized marketplace for digital work.

However, it would later change and begin the adoption of blockchain technology. SuperRare is an ERC-20 token that is built on the Ethereum network. The token is also governed as a DAO with a 4/7 multi-sig wallet. Today, it is ranked as the 462 largest cryptocurrency based on market capitalization. It also has a market capitalization of over $69 million.

Rare Price Prediction

My Rare price prediction indicates that the prices of the cryptocurrency will be trading at around $1.3 in the coming days. This is based on past price action, its all-time high and low prices, and how the currency is currently performing. Since its launching, the cryptocurrency was able to hit an all-time high of $3.79 on October 11, 2022.

The prices would later drop and reach the all-time lows of $0.3812 on January 22, 2022. Today, the cryptocurrency is trading at 86 percent above its all-time low prices. The prices are also at over 80 percent below their all-time low. This indicates that in the past few months since its launch, Rare has traded within a very wide margin, and this can help us predict where the prices will be in a few days to come.

Looking at the daily price chart below, today’s trading session has seen a small rise in price for the Rare cryptocurrency. The prices are also bouncing off from their all-time low. Therefore, I expect the Rare price to continue with its current upward move until it hits the $1.3 resistance level. At this point, there is a possibility of the currency continuing with its upward move.

Rare Daily Chart