Kusama price analysis: The KSM price should rise again

KSM just broke the resistance trendline with a tall green candlestick over the 4 hour period

– Advertising –

  • The price of Kusama coins rose 20% in the past two days, indicating an upward trend.
  • Kusama’s market cap has also increased by 13%, along with a sudden surge in purchase volume.
  • The expected increase after a major breakout is 20-25%.

The Kusama coin has managed to find support near the Fibonacci level of 0.236 with the help of 20 EMA (blue) in the daily timeframe. The three consecutive green candle holders give an indication of an upward trend, but the small body candles and huge wick in the latest version are not convincing enough. Price could hit previous highs if above the 0.236 Fibonacci level. The 50 ema (yellow) are above 100 EMA (white), which means that the bulls are still active. The market capitalization of the KSM is USD 4,039,224,347 (+ 7.14%) and the 24-hour volume is USD 459,559,088 (+ 53.56%).

Will KSM recapture previous highs?

KSM just broke the resistance trendline with a tall green candlestick within the 4 hour period but a small area of ​​resistance is causing problems for the bulls. However, the breakout of this zone could bring the price to $ 567 and the rejection could bring it to $ 390, which is the immediate support level. KSM price has yet to do a proper retest for the breakout, leading to the possibility of a dip followed by a big uptrend. However, the low level of resistance is fragile and could be reduced with just enough buying pressure.

– Advertising –

The 50 EMA (yellow) is above the 200 EMA (white) in the 4-hour period, which implies a sustained upward trend. The price of Kusama is above the 50 EMA which could be very helpful given the current resistance.

The relative strength indicator doubles up and heads towards the overbought zone, indicating the bearish sentiment among gamers


The breakout of the trendline is bullish news, but the immediate minor resistance could push the price back down. One has to be careful before entering early as volatility is believed to increase.

Support – $ 390 and the levels mentioned

Resistance – $ 567 and the mentioned immediate resistance zone

Join the telegram channel of the coin republic for more information on CRYPTOCURRENCY NEWS and predication.

Comments are closed.