Kusama Price Analysis: KSM coin shows inverted flag pattern in daily time frame

  • The KSM coin chart shows that the 50 EMA and 200 EMA are on the verge of giving a death crossing
  • The KSM / BTC pair traded at 0.006229 BTC with a loss of 1.51%
  • The 24-hour trading volume at KSM is $ 91.3 million.

The KSM coin price offers another excellent opportunity for KSM trading with its inverted flag pattern in the daily time frame. The pattern is currently floating within a channel and is preparing to break out of the support trendline. Hence, traders can wait patiently for this breakout which provides excellent direction for the KSM coin.

At the time of this writing, the KSM coin is trading below all of the major EMAs 20, 50, 100 and 200, indicating a strong downtrend. Additionally, the graph also shows that the 50 EMA and 200 EMA are on the verge of a death crossover, which should bring more sellers to market.

The RSI (NEUTRAL) The value stands at 41, which indicates a bearish momentum in the coin.

KSM Coin Crypto Chart in the 4 hour timeframe

Source – KSM / USD on Tradingview

The KSM coin price shows a clear picture of the inverted flag pattern on the 4 hour timeframe. Currently, the price is on the support trendline, providing a kind of double bottom pattern that indicates the continuation of the price by moving towards the overhead trendline.

The MACD indicator (NEUTRAL) shows that both the MACD and the signal line are hovering around the neutral zone, with several intersections of these two lines, indicating a neutral price sentiment. In addition, the histogram also shows small faded red-green bars, which indicate an unclear dynamic.

Conclusion: From a technical point of view, the general market sentiment of the token is sharply declining. In addition, the pattern also shows another bearish pattern, i.e. an inverted flag pattern; This pattern could provide an excellent short opportunity for traders interested in KSM coins.

support– $ 193

resistance– $ 218

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