In recent weeks Serum has been struggling against USDT (tether) and has risen above $0.8. The price of Serum is still range bound. The price of Bitcoin (BTC), fluctuated for weeks between $19,000.500 and $20,000 with the price locking on its next move. This choppy movement (SRM) has affected most altcoins including Serum. (Source: Binance)
Weekly Chart: Price Analysis for Serum (SRM).
SRM prices have had trouble replicating their recent bullish move which saw them rally to $3.5 when they were fueled by a positive bullish sentiment.
SRM continues to struggle to keep its feet on the ground after it fell from $13 an all-time high. The price is continuing to decline with no sign that there will be a significant rebound. SRM’s weekly low of $0.8 could rise to $1.2 with the latest indicators.
SRM’s price is currently facing resistance at $1. We may see a price increase if this price region flips.
SRM could break off at its $1 resistance if it maintains the bullish structure.
Weekly resistance for the price of SRM – $1.
Weekly support for the price of SRM – $0.75.
The Daily SRM Price Analysis (1D) Chart
SRM’s price rallied after it hit a daily low. However, SRM is refusing to move out of a range channel. If the price of SRM breaks above this bullish channel in the daily timeframe, it will be confirmed as bullish and trend higher.
SRM’s price has struggled since then to regain its bullish trend as it trades below daily Exponential Moving Averages 50 (EMA), 200 (EMA). Prices of $0.9 and $1.6 are the resistance levels to SRM’s price.
Daily resistance for the SRM price – $0.9.
Daily support for the SRM price – $0.75.
Comparison of SRM Prices for The Four-Hourly Chart (4H)
The price of SRM is bullish in the fourth quarter, after it formed a hidden bullish divergence. It bounced off its downtrend and rallied from $0.74 to $0.81.
SRM prices are trading at or above the 50 EMA and below the 200 EMA. Support is provided by the $0.78 price at 50 EMA, and resistance is provided by $0.85 at 200 EMA.
SRM has to break the 200 EMA of significant volume to increase its chances of rising to $1.
Relative Strength Index (RSI for SRM) below 55 is shown on the 4H Chart. This indicates a low buy order volume SRM prices.
Four-Hourly resistance for the SRM price – $0.85.
Four-Hourly support for the SRM price – $0.75.
Featured image from zipmex. Charts From