Our RARE price prediction has just flipped bearish as the price has broken below its support of $0.40. This level acted as a very strong support area as the price bounced off quite a few times. Nevertheless, due to the ongoing crypto slump, SuperRare is now in an accumulation phase below the key support. RARE price dipped to the fresh lows of $0.135 last week, as Bitcoin price fell to $24,500 amid an unprecedented sell-off in crypto markets.
RARE is the native cryptocurrency of the SuperRare NFT marketplace. The platform enables the seamless buying and selling of NFTs from the world’s top artists. Several notable artists have already sold their art pieces as NFTs on the platform.
According to SuperRare news today, the SuperRare Gallery is now open. This would also include a debut exhibition known as Vision From Remembered Futures at the first-ever physical SuperRare PopUp gallery. The event would take place in SoHo, New York. During the event, 15 SuperRare artists would be exploring the themes of humanism and Sci-Fi inspired by cyberpunk landscapes. As per the team, it would be a futuristic reflection on the human condition and its ever-expanding relation to machines.
Technical analysis of the RARE price chart shows that the coin is yet to show any reversal signals. At the time of writing, RARE crypto is trading at $0.238, which is 93.5% below its October 2021 ATH of $3.64. This abrupt price decrease could also be attributed to the low adoption stats of the platform. SuperRare has a market cap of $34 million, which makes it one of the top 600 cryptocurrencies on Coingecko.
Any bullish RARE price prediction seems to be off the table until the price breaks above $0.40 level once again. If the fear persists in the markets for another few weeks, then SuperRare price might even dip below $0.10. Nevertheless, a retest of previous support at $0.40 also seems to be on the cards.
This post was last modified on May 20, 2022, 08:18 BST 08:18