Casper Price Soars 64% as Open Interest Hits a 5-Month High Ahead of Casper 2.0 Upgrade

Highlights:

• Casper price surges 64% to $0.016 as investor confidence rises and trading volume spikes 3554%.
• Casper Network has hinted at a coming upgrade, raising optimism in the CSPR token.
• Casper open interest soars over 300%, hitting a 5-month high of $6M. 

The Casper price is among the spot gainers today, boasting a 64% surge to $0.0165 in the past 24 hours. The bulls have put their best foot forward, as its daily CSPR trading volume spiked 3554% in the same period. This recent price movement indicates intense market activity and investor confidence in Casper. 

What’s Behind the Casper Price Surge?

On April 28, Casper hit the $0.023 mark before retracing to the $0.016 level, as the bulls show immense strength. According to Caper Network, “Casper 2.0 is more than an upgrade —it’s a leap forward for the Casper Network and a defining step toward bridging the real-world economy with Web3.”

For anyone asking why $CSPR pushed so much today, it's because people are realizing that the new team in charge of Casper is not slowing down.

We have watched as the @Casper_Network has completely shifted focus and started pushing major updates.

I stated before that the names… https://t.co/BDUj4lfjh3

— Nick | Crypto Crusader (@NCashOfficial) April 28, 2025

As many traders and investors eagerly anticipate the upcoming upgrade on May 6, the CSPR token is set to soar further. This is because the upcoming upgrade is set to boost the network’s security, speed, and developer experience. 

Casper Price Outlook

The bullish sentiment is evident in the CSPR token, as the bulls have the upper hand in the market. This is evident as they have flipped the 50-day and 200-day moving averages into immediate support. The Casper price could soar further with the support levels of $0.014 and $0.012 remaining steady. The $bulls could reclaim the $0.018 mark in such a case. 

However, the Casper technical indicators signal overbought conditions. Starting with the Relative Strength Index at 82, it shows that the token is severely overbought. This may trigger a slight retracement to allow the bulls to sweep through liquidity. With that said it may be advisable for traders and investors to watch out for a reversal to avoid the bull trap carefully.

On the other hand, the MACD momentum indicator has hurtled toward the positive territory. Moreover, the green histograms are increasing, indicating intense buying activities.

Meanwhile, with the overbought condition, early profiteering may soon kick off in the Casper market. This will cause a slight correction in the Casper price toward a $0.013 safety net. If the selling pressure mounts, a deeper correction toward $0.012, which aligns with the 200-day MA, will act as the key support. If this level gives way, the CSPR token will dive deeper, potentially to $0.010, invalidating the bullish thesis. Until then, the CSPR token still boasts a bullish outlook. 

Casper Derivatives Analysis

On-chain metrics show a parabolic rise in Casper volume and open interest. The open interest has risen about 311% to $6.91M, hitting a 5-month high. Moreover, its volume has flipped bullishly, soaring 14,248% to $318.82M. 

CSPR’s long liquidations surpass the shorts, hinting at a bearish outlook. In the past 24 hours, the long liquidations hit $1.41M while the short liquidations accumulated to around $881.60K.This indicates that the bullish traders are facing intense pressure as their positions are being forcefully closed. Meanwhile, with the token sitting around the overbought territory, a slight correction won’t be a surprise in the Casper price.