- The price of the KSM coin is currently in a downtrend that may push it to a low of $ 240 in the future. In contrast, it saw a 5.1% loss in the intraday session.
- The technical indicators of the Kusma price point to a strong downward momentum for the coming days. Meanwhile, the KSM / BTC pair has dropped more than 3% in the past 24 hours
Why invest in KSM coins?
The price of the KSM coin is currently experiencing a bearish momentum on the daily chart that may push it to a new low. The Kusma price has seen a loss of more than 3% in the past 24 hours and is trading near the $ 289 level. The asset is also coined as the wild cousin of polkadot. It’s an experimental blockchain platform to provide a better experience. Parity technologies are the brains behind Kusama and Polkadot. The KSM / BTC pair is also posting a loss on the daily chart which may soon return to the uptrend. One can invest in KSM because of the positive signal and the price breakout
The price of the KSM coin has fallen more than 53% from its all-time high. Kusama ranks 52nd in the CMC and has a market dominance of more than 0.12%. The volume to market capitalization of the Kusama price suggests a consolidated price momentum for the coming day. If the ratio rises above 0.8, there is strong bullish momentum.
Technical indicators suggest a strong upward momentum in the KSM coin price
Source: trade view
The weekly technical chart of the Kusama coin price suggests strong upward momentum for the coming days. The price is currently observing a correction mode on the daily chart. KSM’s bullish momentum may stall near the $ 400 level. Price support during the downtrend can be seen at $ 200. The Kusama price is currently trading above the 50 and 100 daily moving average, with the likelihood of a positive crossover in the future. The coin’s 100 DMA is currently at $ 268 and serves as a temporary support. KSM price may soon hit a new high of $ 500 in the coming days. The KSM / BTC pair may also make a new high in the future
diploma
The KSM coin price is currently in a consolidation, but may soon return to the uptrend. The KSM / BTC pair may also experience strong bullish momentum going forward. An investor should exercise due diligence before investing.
Technical levels
Main grant: $ 250
Main Resistance: $ 400
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