The current cryptocurrency industry momentum remains rather uncertain. Most markets try to consolidate, whereas the casinocoin price is moving up rapidly. Sustaining this level of growth will pose its own set of challenges.
CasinoCoin Price Trend Seems Strong
In the past week, the value of CSC has undergone a complete transformation. From its low of $0.000781 in late December of 2019, the casinocoin price has risen to $0.001223. Such a massive uptrend is not unprecedented in the crypto world, yet it remains an unusual sight for some altcoins.
This trend has been in place for some time now. Over the past 30 days, the casinocoin price gained 232.2%. A very spectacular move, considering how the value of bitcoin has shown very few signs of movement.
What is even more remarkable is the low CSC trading volume. With under 1% of its market cap in trades, the altcoin isn’t doing too well. This seems to indicate how the casinocoin price is being manipulated rather heavily. That doesn’t mean that traders can’t make money, however.
The place to be for trading CSC is Bitrue. This exchange generates over 86% of the overall casinocoin trading volume. The top pair is CSC/XRP, followed by CSC/BTC.
Bollinger Bands: The Bollinger Bands for CSC/XRP are tightening. That often means one of two things. Either the uptrend continues, or a big dump is incoming.
During the previous squeeze, the casinocoin price moved up by nearly 30% in XRP value. This current squeeze seems a bit more bearish, although it is too early to say for sure.
Moving Average: The CSC/XRP market is still above the moving average lines, indicating that this uptrend may not come to a close just yet. For the casinocoin price, this may prove to be a crucial indicator.
Short-term wise, the MA7 and MA30 show signs of potentially turning bearish. Both lines remain well above the MA200, albeit that is not entirely surprising. A small retrace can pave the way for a renewed casinocoin price uptrend.
RSI: For CSC, the current RSI looks to remain range-bound. No major breakout looms on the horizon, although no breakdown should occur either. A status quo seems a very plausible outcome when looking at this indicator, at least for the short-term.