Serum Price Prediction 2021 – Will SRM Hit $15 Soon?

Serum Price Prediction 2021 - Will SRM Hit $15 Soon?
  • Bullish Serum SRM price prediction ranges from $5.46 to $12.57.
  • The SRM price might also reach $15 soon.
  • SRM bearish market price prediction for 2021 is $1.45.

In Serum SRM price prediction 2021, we use statistics, price patterns, ADX, and much other information about SRM to analyze the future movement of the cryptocurrency. 

Serum, also known as the $SRM token, is a game-changing token that will rebuild the DeFi network and the decentralised derivatives market. It has a user-friendly interface with a full limit order book Dex, full liquidity, and cross-chain interoperability.

Serum is a decentralised exchange (DEX) and ecosystem that brings decentralised finance unprecedented speed and low transaction costs. It is based on Solana and has no permissions.

Current Market Status of Serum (SRM)

According to Coingecko, the price of Serum coin is $4.02 with a 24-hour trading volume of $36,524,671 at the time of writing. However, SRM dropped to 5.41% in the last 24 hours.

Moreover, SRM has a circulating supply of 50,000,000 SRM. Currently, SRM trades in cryptocurrency exchanges such as Binance, OKEx, FTX, HitBTC and CoinTiger. 

Serum SRM Price Prediction 2021

Serum (SRM) holds the 191th position on CoinGecko right now. Serum SRM price prediction 2021 explained below with a daily time frame. 

SRM/USDT Showing Ascending Scallop
SRM/USDT Showing Ascending Scallop (Source: Trading view)

Ascending scallops pattern is observed during a bullish rally. This pattern appears to be in the shape of a J that is slightly tilted to the right. A breakout above the pattern’s highest high is considered an upward breakout, while a breakout below the pattern’s low is considered a downward breakout.

More so, the theory explains that at the start of the pattern, there is a price drop. The drop is smaller, and it reverses back, resulting in a wider bottom. Following the reversal, the price continues to rise, and the entire pattern appears as a tilted J.

Currently, SRM is waving at its wider bottom with the entry point at $3.08. After this small price drop, SRM would continue to rise which will appear as tilted J. With this pattern, SRM will soon reach $7.32. If the trend reverses, then the price of SRM may fall to $3.75.

Serum (SRM) Support and Resistance Level

The below chart shows the support and resistance level of Serum (SRM).

SRM/USDT Support and Resistance Level
SRM/USDT Support and Resistance Level (Source: Trading view)

From the above two time frames, it is clear the following are the resistance and support level of SRM.

  • Resistance Level 1 – $5.46
  • Resistance Level 2 – $8.10
  • Resistance Level 3 – $12.57
  • Support Level 1 – $3.75
  • Support Level 2 – $2.30
  • Support Level 3 – $1.45

The chart depicts the bullish performance of SRM over the previous month. However, if the trend continues to rise then SRM has a chance of overtaking the resistance level at $12.57 soon. On the contrary, if the trend reversed then SRM might drop to $1.45 presenting a bearish signal.

Serum (SRM) Average Directional Index (ADX)

Let us now look at SRM’s Average Directional Index (ADX). In Particular, the ADX assists traders in determining the strength of a trend rather than its direction. It can also be used to determine whether the market is changing or if a new trend is beginning. It is, however, linked to the Directional Movement Index (DMI).

Moreover, the oscillator has a range of 0 to 100. In addition, a high value represents a strong trend, while a low value represents a weak trend. Furthermore, it is frequently combined with directional indicators.

SRM/USDT ADX
SRM/USDT ADX (Source:Trading View)

The above chart represents the ADX of SRM which made an uptrend crossover at the end of April. Currently, the range of ADX is at 15, so it indicates a weak trend.

Conclusion

The SRM is one of the cryptos that keeps its ground against the bearish market. In addition, our long-term SRM price prediction for 2021 is bullish. It has a good chance of breaking through its current all-time high (ATH) of $12.98 this year. However, this will only happen if many previous psychological barriers are broken.

Furthermore, with the advancements and upgrades on the SRM ecosystem, the performance of SRM would rise reaching $12.57 very soon. But, it might also reach $15 if the investors believe that SRM is a good investment in 2021.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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