Kusama price projection: KSM price jump from USD 520.0, may fall back

The Kusama price jumps from the USD 520.0 support

  • The Kusama price jumps from $ 520.0 to $ 526.12 on Wednesday
  • The 24-hour volume in KSM is $ 403,826,312, down 16.08%
  • The KSM / BTC pair traded at 0.009046 BTC with a loss of 1.18%.

The 4-hour technical diagram shows the Kusama price jump with strong sustainability. The critical support level of KSM is included according to the pivot points $ 520.0. 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 time frame completes a bullish pin bar candlestick pattern that is a bullish reversal with medium confidence.

SMA-21 & 50 acts as another strong support in the coin. SMA-21 (purple) moves above the SMA-50 (White), which projects an upward trend. The price tries to keep above SMA-21. Investors can see a positive transition in the SMA and price will follow a positive direction as well.

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RSI indicator (BULLISH), with a value of 54.86 indicates a buy-signal in the coin. In addition, investors may see the index drop from 62 to 54 and plummet in future trading sessions.

The volume of (16,489K) represents a moderate purchase volume, which is below the volume MA (18,989K) of 20 days. OMG needs a lot of buying pressure to bring the price to a higher level.

Kusama price jumps 20% in weekly timeframe

The Kusama price was trading at $ 526.12, down 2.57% in the past 24 hours and up 16.41% over the weekly timeframe. Additionally, the Kusama price jumps from the USD 520.0 support. In contrast, its market cap is $ 4.47 billion. Tech-wise, investors can see a positive transition in SMA and the price is struggling to stay above the 21-SMA. The RSI index is sloping down. Additionally, the price movement may head towards the USD 520.0 support in future trading sessions.

Resistance: $ 570.0

Support: $ 520.0

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