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Kusama price analysis: KSM rejoins $338 level as bullish momentum reignites

TL;DR Breakdown

The price heightened up to $337.96.Kusama price analysis favors the bulls.Support is surviving at $313.52 level.

The Kusama price analysis suggests the price is going up once again as the bullish momentum is overpowering the bears at present. The bulls are trying to find their way to recovery, and after consistent efforts, they have been able to bring the price above $337. The past few days proved unfavorable towards the cryptocurrency value as the price underwent decline on various instances. Yet, today an increase in price has been detected which is an encouraging sign.

KSM/USD 1-day price chart: Price retouches $338 after overcoming major loss

The price is on the rise once again as it can be confirmed from the one day Kusama price analysis. The bulls have been able to recover successfully as the price levels are now touching the $338 height. The past few days proved fatal for the coin value as its value went down quite regularly. But now the bulls are back on track, and are on their way towards the moving average (MA) value which is at $342.42.

KSM/USD 1-day price chart. Source: TradingView

The volatility has been decreasing quite rapidly which means that further uprise in price can be expected in the future. Whereas the upper and lower values of the Bollinger bands indicator are as follows; the upper band is settled at $363 while the lower band is at $313.52. The Relative Strength Index (RSI) score has been maintained up at 47.75 as well.

Kusama price analysis: KSM price stoops down to $338 as a result of bearish trap

The price is going down in the four hours Kusama price chart as the bearish candlesticks have returned. The price has dropped up to $337.90 in the last four hours, thus strengthening the downtrend. The bears have been ruling consistently since the past few hours, and it is expected that the price will experience fall again. The price is below the moving average value as well which is currently settled at $349.

KSM/USD 4-hours price chart. Source: TradingView

A crossover between SMA 50 and SMA 20 is to be expected in the approaching hours which is also a bearish indication. The upper Bollinger band is resting at the $365 position while the lower Bollinger band is at $334. The RSI score has also decreased up to 43.44 as result of bearish slide.

KSM/USD technical indicators chart. Source: TradingView

The overall trend since the past few months has been bearish as the price receded down to new lows. The technical indicators chart is further confirming that with a total of 13 indicators on the selling position, nine indicators on the neutral position and four indicators on the buying one.

The moving averages indicator is strongly favoring the sellers as well with a bearish signal. There are 11 indicators that are present on the selling position, three indicators on the buying, and only one indicator on the neutral position. The Oscillators are giving a neutral hint for the day with eight oscillators on the neutral mark, two oscillators on the selling mark and only one on the buying mark.

Kusama price analysis

As per Kusama price analysis, the price has undergone improvement today as it returned back to the $338 level in the last 24-hours. This is an encouraging sign for the buyers as the price has been traveling low for the past week. A downtrend is to follow in the upcoming hours as the hourly prediction is displaying favorable results for the sellers.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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