Kusama Price Analysis: The bears have taken control of the price. Will the Bulls make a comeback on the support?
- The trading volume of KSM Coin in the last 24 hours at the time of writing this article is + 48%
- The price of KSM / BTC and KSM / ETH at the time this article was written is 0.00703BTC and 0.09683ETH, respectively
- The price will break the resistance
Long-term view: –
In the daily chart time analysis we can see that the price has broken the resistance and now the bears are trying their best to push the price down. Let’s look at technical analysis to see if price will hold on support that was once on resistance. First, we can see the MACD showing the green histograms, which means that the MACD line is above the signal line and there is no indication that the lines will change direction anytime soon. Additionally, we can see the RSI, which is in the neutral zone at 66, and the RSI line is pointing towards the oversold zone of 30, which means that the bears are winning the battle against the bulls. Finally we can see the moving average as the 20MA is above the 50MA and both 20MA, 50MA are above the 100MA which is a bullish sign.
Short term view: –
In the 4 hour time interval we can see that the price has encountered resistance and now the bears are pushing the price down after an excellent uptrend. First, we can see the MACD showing the green histograms as the MACD line is above the signal line, but the MACD line is now changing direction and can cross the signal line. Additionally, the RSI is in the overbought area of 70 near 73 and now the RSI line is pointing towards the oversold zone, which means the bears are winning the battle against the bulls. Finally we can see the moving average as the 20MA is above the 50MA and both 20MA, 50MA are above the 100MA which is a bullish sign.
In both the long and short term, we see price now falling to the support from which the bulls can try again and push the price up, but they will need significant volume for that, if that fails the bears will break the support and lower the price. Right now the trend is bearish.
RESISTANCE: – $ 463, $ 482
SUPPORT: – $ 419, $ 401