Crypterium dropped by 18 per cent in yesterday’s trading session. This was a continuation of the long-term bearish trend that has seen the prices drop by 30 per cent in May and 71 per cent between April 1 to date.
However, even with these drops in the past two months, Crypterium remains among only a few cryptocurrency projects that have gained in markets in 2022. It opened the year, trading at $0.12. The following months saw an unprecedented growth of the crypto, with the month of March seeing a price gain of 355 per cent.
However, the following two months after the month of March started a strong bearish move. After the global cryptocurrency industry entered a bearish phase, this resulted in most cryptocurrencies losing their value. For Crypterium, the prices dropped by 71 per cent, and the prices have not recovered since.
Crypterium price is down by almost a percentage point in today’s trading session. Today’s drop is a continuation of yesterday’s 18 per cent drop. However, the current volatility has not been in the market in the past few days. Crypterium price has also trended sideways, with the past seven trading sessions alternating between the bulls and bears.
Looking at the chart below, Crypterium has been trading for weeks within a descending channel. On May 12, the prices touched the lower trend line of the descending channel. This resulted in the formation of the bearish flag, which has seen prices rise slightly. However, today and yesterday’s session show the prices are ready to resume the bearish flag.
Therefore, my Crypterium price prediction is I expect the prices to continue falling for the next few trading sessions. There is a high likelihood of the prices hitting the $0.141 price level. This is the recently set price lows, and if the prices break below that level, then we should expect the prices to trade at the $0.11 price level soon.
However, if the prices return above $0.20, my trade analysis will be invalidated. It will also mean a likelihood that prices may continue with the upward move.
This post was last modified on %s = human-readable time difference 15:36