SuperFarm (SUPER) Technical Analysis: Will SUPER Price hit $1 By the End of the Day?

Key Takeaways

• The SUPER price closed the previous day’s trade at $0.76 with a market capitalization of $296.81 million and a circulating supply of 404,410,904.42 SUPER
• The asset after a huge drop may attempt a parabolic recovery and gain more than 30% to reach above the danger zone by the end of the monthly trade

SuperFarm(SUPER) Technical – Analysis for Today: 09 April 2022

The SuperFarm price since the beginning of the month maintained a descending trend. This may be challenged during the later hours of trade. As the price is finding the right momentum, to begin with, a strong flip and a decent buying volume may assist to do so. The price which is now hovering along the lower support may surge a little high. And hence it may test the immediate resistance at $0.77 by the end of the day’s trade. 

SuperFarm(SUPER) Technical Analysis at a Glance

SUPER price amid the recent rally raised high to hit the ATH around $2 during the previous rally. However, an acute sell-off slashed the price by nearly 75% which appears a tedious job to recover. After multiple attempts to break out from the descending trend, the recent attempt may also result in another drop. And hence the price may revisit the lower support at $0.57 before igniting a gigantic rally towards the north.

Technical Indicators & Pivot Levels

Technical Indicators

Pivot Levels

Oscillators

The next move of the SuperFarm price is pretty uncertain as most of the indicators are either bearish or neutral. And hence the price may continue consolidating as the RSI, ADX, Bull-Bear power, etc are all neutral in both time frames. Moreover, the MACD indicates a ‘sell’ signal with an accumulated selling volume. 

The volatility is pretty less while the price is trading below the average levels. Additionally, the SUPER price is testing the key levels along with the 50-day MA in the short term and a flip from here may validate an uptrend. Conversely, the support levels are also very close and with a bearish move, these levels may also be tested and cleared.

SUPER/INR Technical-Analysis for Short-Term

Source: Tradingview

• The price from the mid-March displayed a huge upswing gaining more than 60% to reach the monthly highs above $0.9
• After the huge sell-off, the price is now testing the lower support and attempting a flip after a tough fight with the bears
• The price may rebound and reach the immediate resistance at $0.833 and later experience a significant drop as the price is swinging within a rising expanding channel
• The lower target for the asset in an extended descending trend is around $0.57. However, the price may halt the trend and consolidate for a while before these levels accumulate strength to pull a massive leg up later

Additional Read: What is SuperFarm?

SUPER/INR Technical Analysis for Long-Term

Source: Tradingview

• After dropping hard by more than 70%, SUPER price again attempted to flip the bearish trend which appears to have gone in vain
• The price after a parabolic recovery close to $0.9 is again dropping significantly forming the handle of the cup and handle pattern
• A breakout from the neckline at $0.89, indicates a clear uptrend toward the immediate resistance somewhere around $1.3 is pretty possible
• However, to do so, the price appears to be primed to ignite a rebound after a minor pullback just below $0.7 levels

Where & How to Buy SuperFarm(SUPER)

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