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Serum Price Prediction 2021 – Will SRM Hit $8 Soon?

Serum Price Prediction 2021 Will SRM Hit $8 Soon
  • Bullish SRM price prediction ranges from $4.5 to $6.7.
  • The SRM price might also reach $8 soon.
  • SRM bearish market price prediction for 2021 is $2.57.

This Serum (SRM) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our SRM price analysis and prediction.

There are various cryptocurrencies that rose to a new all-time during this 2021 bull run. In contrast, some crypto assets also faced a price drop. As a result, many digital currency traders are worried about whether it is time to hold or sell their digital assets. This is also the same situation that crypto traders could experience in SRM.

Nevertheless, the crypto market is consolidating lately, and many cryptocurrencies are losing their previous profits. Will SRM experience the same price volatility? We’ll find out shortly in this SRM price analysis 2021 article.

Serum (SRM) Overview

CryptocurrencySerum
CoinSRM
Price$7.41
Market cap$220,094,423
Circulating Supply50,000,000 SRM
Total Supply161,000,001 SRM
Trading Volume $72,158,198.76
All-time high$12.89
All-time low$0.11

What is Serum (SRM)?

Serum is a decentralized exchange (DEX) and an ecosystem that enables high speed and low transaction costs of decentralized finance (DeFi). Moreover, it is permissionless and is developed on the Solana blockchain. Moreover, Serum is created to eliminate the vulnerability in the present DeFi space that stays due to incomplete decentralization. More so, it is claimed to be fully decentralized and works on a non-custodial exchange with cross-chain trade support. In addition, there is no need for KYC.

However, Solana is a web-scale blockchain that could hit 50,000 transactions per second. Moreover, this is achieved via a verifiable delay function, known as SHA 265 hash chain, which enables optimistic concurrency control.

Added to this, Serum is developed by the Serum Foundation, backed by a team of experts in cryptocurrency, trading, and decentralized finance (DeFi). The project also has backing from a number of firms.

Now that we are clear about SRM do you think SRM will be beneficial crypto in 2021? Join me and let us see the charts in this SRM price analysis and SRM price prediction.

Serum (SRM) Current Market Status

As of the time of writing this Serum price analysis, SRM trades at $3.31 with a 24-hour trading volume of $71,791,222. The price of SRM has increased by 2.59% in the last 24 hours.

Currently, the top cryptocurrency exchanges for SRM are  Binance, Upbit, CoinTiger, FTX, and OKEx. Now, let’s go to the next part of this SRM technical analysis for 2021.

Serum (SRM) Price Analysis 2021

Currently, SRM holds 159th place on CoinMarketCap. But will the latest upgrades, development, and changes in the SRM blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this SRM price prediction article.

SRM USDT chart showing Falling Wedge pattern
SRM/USDT chart showing Falling Wedge pattern (Source: TradingView)

In the daily frame chart shown above, we can see the Falling Wedge Pattern. Moreover, this could immediately lead to a price breakout. Moreover, the falling wedges slide down and contain a bullish bias.

More so, this bullish bias cannot be analyzed till a resistance breakout occurs. As a continuation pattern, the falling wedge will slide down further, however, the slope would stay against the predominant upward signal. As a reversal pattern, the falling wedge slopes up and with the predominant trend.

SRM Relative Strength Index
SRM Relative Strength Index (Source: TradingView)

The Relative Strength Index (RSI) is above 43, which means that SRM is in a nearly overbought nor oversold state. With this traders need to stay cautious while trading, turning away from further losses.

Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of SRM

SRM 30-day SMA and 50-day EMA
SRM 30-day SMA and 50-day EMA (Source: TradingView)

Since the start of 2021, SRM’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations, consolidation, and corrections right away. Taking this into consideration, SRM has a competitive market this 2021.

Serum (SRM) Price Prediction 2021

The chart below shows that SRM has performed great over the past few days. Moreover, the SRM price shows a bullish trend. If this trend continues, SRM might run along with the bulls, overtaking its $6.7 resistance level and move higher.

SRM USDT Price Chart
SRM/USDT Price Chart (Source: TradingView)

Conversely, if the investors turn towards the crypto, the bears might take over and push SRM from its uptrend position. In simpler terms, the price of SRM might plummet to almost $2.57, a bearish signal.

Meanwhile, our long-term SRM price prediction for 2021 is bullish. It has a high possibility of reaching new heights. However, that will only happen if it breaks many past psychological resistances.

Conclusion

Serum has a bright future ahead of it in 2021. With the ongoing developments happening within the SRM ecosystem, as well as in the overall crypto market, we may see SRM reach new heights.

Bullish SRM price prediction 2021 is $8. As said above, it may even reach its new ATH if investors have decided that SRM is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

How to Buy SRM Tokens?

Users can obtain SRM tokens by purchasing them from cryptocurrency exchanges such as Binance, OKEx, CoinTiger, FTX, and Upbit.

Will SRM Surpass its Current ATH?

SRM is a good investment in 2021. However, SRM has a high possibility of reaching new heights this year.

Can SRM reach $10 soon?

Yes, it’s very much possible that SRM might reach $10 in the near future as per the current bullish trend.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

Crypto trading has enticed Ananthi Reeta to write for CoinQuora. She consistently contributes news and feature articles. She has covered several different blockchain and crypto niches, especially altcoins.