Kusama Price Projection: Downward Trend at KSM, A Start?

The Kusama price fell from the $ 570.0 resistance

  • The Kusama price fell from $ 568.0 to $ 477.30 on Thursday
  • The 24-hour volume in KSM is $ 724,408,009, an increase of 78.67%
  • The KSM / BTC pair traded at 0.008072 BTC with a loss of 12.53%.

The 4 hour chart shows that Kusama is on a downward trend. The critical support levels of KSM are set according to the pivot points $ 466.80 and $ 413.80. Conversely, when it goes up, the most important level of resistance to watch is $ 570.0. Diving into the weekly chart of a 4 hour timeframe completes a bearish gyro candlestick pattern, which is a bearish reversal with low reliability.

EMA- (8,13,21,55) acts as another strong support in the coin. EMA-8 (blue) cuts below EMA-13 ​​& 21 (green yellow), which projects the start of a bearish trend. The price also falls under EMA-55 (red). Investors can see a negative crossover in the EMA and the price will follow a negative trend as well.

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RSI indicator (BEARISH), with a value of 40 indicates a sell-signal in the coin. In addition, investors can see a downtrend from 62 to 40 in the index and collapse in future trading sessions.

The volume of (28.25K) represents a purchase volume that is greater than the volume MA (23.54K) of 20 days. At KSM, a lot of pressure to buy is required to bring the price to a higher level.

Kusama price fell 12.38% in daily timeframe

The Kusama price was trading at $ 477.30, down 12.38% over the past 24 hours and up 14.20% over the weekly timeframe. Additionally, the Kusama price fell from the $ 570.0 resistance. In contrast, its market capitalization is $ 4.02 billion. Technically, investors can perceive a negative crossover on EMA and the price drops below the 55-EMA. The RSI index is sloping down. Additionally, the price movement may head towards the USD 466.80 support in future trading sessions.

Resistance: $ 570.0

Support: $ 466.80

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