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Serum buyers lead the charge when writing, adding 14 percent on the last trading day. From the daily chart, SRM crypto prices may retest $1 in a bullish continuation formation.
Past Performance of Serum
After surging to as high as $13.5 in September 2021, Serum prices sank 94 percent to $0.72 in June 2022. Technically, Serum bears are still in charge, but there could be hope for bulls if prices clear $1. There are hints of recovery, with SRM crypto adding 14 percent in a possible bullish breakout formation.
Serum Technical Analysis
Even though bears are overly in charge from a top-down analysis, the spike in participation and the wide-ranging bar of July 8 is overly supportive of buyers. Serum buyers are in control at spot rates, adding 14 percent, printing a bullish engulfing formation. Traders may find entries to load above $0.73 while targeting $1 and later $1.21 above the middle BB. Supporting this preview is the bullish divergence pattern with the stochastic indicator, which rose as TRB coin prices dropped.
What to Expect from SRM?
Serum bulls have a chance at spot rates. Since SRM token prices are firm above $0.73 and breaking above the middle BB, traders can load in smaller time frames targeting $1 in the short term.