This price level was once the support price for the Serum market from November 10 to November 12. But the bears captured the bullish support and now they have made it theirs. Since the bearish price breakout, the bear market has been strong even in today’s market, they are overrunning the bulls market.
Serum Protocol Market Price Statistic:
- SRM/USD price now: $0.25
- SRM/USD market cap: $67,687,420
- SRM/USD circulating supply:263,244,669.00
- SRM/USD total supply: 1,092,844,982
- SRM/USD coin market ranking: #255
- Resistance: $2.0, $3.0 $4.0
- Support: $0.5, $0.3, $0.2
Serum Market Price Analysis: The Indicators’ Point of View
The resistance shifted from $0.828 to $0.318. And at this new level, the bull market continues to fail to break the new resistance level. The bands and the Moving Average of the Bollinger indicator are now moving downwards because of the selling pressure. However, at the support level, the bulls are unyielding to the selling pressure. They continue to maintain their position. That may be the reason why the MACD continue to carry a bullish recovery sentiment. And of fact, the bulls are trying to recover their price but it is just that they can’t conquer the $0.318 price level and at that same level, the bulls and bears are currently in a tug-of-war.
SRM/USD 4-Hour Chart Outlook
According to the Relative Strength Index from this standpoint, the market remains stagnant at the point of equilibrium. The price stand between the buyers and the sellers as the momentum of RSI measures 54. This confirms that the market is currently in a deadlock situation. Considering the massive pressure that sellers are putting on the market, we can say the price will fall more.
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