Serum could reach the USD 1,120 and USD 1,721 resistance level but might drop to USD 0.912 and USD 0.725. While the Moving Average of SRM indicates a bearish trend, the Relative Strength Index suggests an almost oversold state.
Statistics, price models, RSI, and RVOL, among other information, allow forecasting the Serum (SRM) price for 2022.
SRM is trading at around USD 0.855921 and has accumulated a 1.6% loss over the last 24 hours. While its daily trading volume is above USD 61.48 million, its market capitalization is about USD 316.99 million. It occupies 125th place in the cryptocurrency ranking, according to CoinGecko.
In addition, SRM has a circulating supply of 372,782,297 coins and trades on cryptocurrency exchanges like Binance, OKX, and Bybit.
The Prediction of the Price of SRM for 2022
The weekly chart shows that the price of SRM outlined the ascending triangle pattern. That occurs thanks to movements allowing a horizontal line along the swing highs and an ascending line along the swing lows. The trend lines of a triangle must break through at least two highs and two lows.
Serum, trading at around USD 0.855921, could reach the USD 1,120 and USD 1,721 resistance. If the trend suffers a pullback, the price of SRM might drop to USD 0.912 and USD 0.725.
The RVOL, MA, and RSI of the SRM Price
The Relative Volume (RVOL) of SRM indicates how the trading volume has changed over time. That index is below the cutoff line, showing that there are weak participants in the trend.
In addition, the Moving Average (MA) of SRM is slightly below 50 MA (in the short term), indicating a bearish trend. Therefore, there might be a trend reversal at any time.
Meanwhile, the Relative Strength Index (RSI) of SRM is at 41.13, suggesting it is almost in an oversold state. However, this makes traders feel confident to trade without any fear.
The ADX and RVI of the SRM for 2022
The Average Directional Index (ADX) of SRM helps measure the overall strength of the trend. That indicator is the average of the values of the expanding price range.
This system attempts to determine the strength of price movement in positive and negative directions. SRM is in the range of 27,874, revealing a significant trend.
The Relative Volatility Index (RVI) of SRM measures the constant deviation of price changes over time. That indicator, below 50, indicates lower volatility and confirms a possible sell signal.
The prices of ETH, BTC, and SRM move in a similar trend, indicating that ETH and SRM will increase or decrease alongside BTC. That proves that the value of the pioneering cryptocurrency has always affected the rest of the market.
Bitcoin is trading at around USD 21,249 and has accumulated a 0.8% loss over the last 24 hours. While its daily trading volume is above USD 28.81 billion, its market capitalization is about USD 406.43 billion, according to CoinGecko.
By Alexander Salazar
