Our RARE price prediction suggests that SuperRare could dip to the $0.40 level once again before another move up. The final line in the sand could be the $0.55 level lying at the 0.786 Fib retracement region. This Fib level comes into play by connecting the January low of 0.377 to the March high of $1.05. Any close below the $0.40 level could send the RARE price in a long bear trend.
RARE is the governance token of the SuperRare NFT platform. The platform allows curated creators to sell their NFTs. Around 12% of SuperRare crypto was airdropped to the creators and the community in 2021 which was worth $150 million. As per the latest RARE news, animator Deekay Motion just sold his ‘Life and Death’ art piece for $1 million. This was the biggest sale on SuperRare NFT within the last 30 days.
The holders of RARE tokens enjoy several privileges on the platform. They can govern the platform and also create new spaces to onboard the creators of their choice. At the time of writing RARE price prediction is trading at $0.576 and its market cap is $86 million. It has a current circulating supply of 145 million coins out of 1 billion total supply.
Technical Analysis of SuperRare price chart shows that the coin has been in a downtrend since its Binance listing. It appears that the whales got rid of their bags by capturing liquidity from the tier 1 exchange listing. Nevertheless, the RARE price seems to have found nice support around $0.40-41 region.
In March 2022, SuperRare price tried to break the downtrend but faced massive rejection from the $1.05 level. It had another rejection from the trendline in April and now the price is around 50% down from the March high. If the RARE price breaks the trendline and consolidates above then $1.24 seems a valid RARE price prediction. This is also 0.382 Fib level that forms by connecting the January low of$0.40 to the November 2021 high of $2.63. However, any lower low than $0.40 could throw this prediction out of the window.
This post was last modified on Apr 09, 2022, 01:18 BST 01:18