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Kusama price analysis: KSM price elevates up to $357 after bullish sequence

TL;DR Breakdown

  • Kusama price analysis shows bulls at the lead.
  • Price has increased up to $356.67 today.
  • Support levels are at the $299.36 value.

The bullish momentum is on the rise once again as the price heightened up to the $356.67 level during the day, as both the one day and four hours Kusama price analysis are confirming the recent progression in price. The past few weeks observed constant variations in the price movement, but today the bulls have taken control of the market. A drop in price is to occur in the coming hours as the hourly price chart is predicting a bearish trend.

KSM/USD 1-day price chart: KSM rejoins $357.67 level after upsurge follows

The price is going high as the bullish momentum has been constantly intensifying since the past few days. The bullish trend has taken the price above $357 and the downtrend has been reversed. A crossover between SMA 20 and SMA 50 took place this week, which is again indicating the bullish lead. The moving average indicator (MA) is keeping its value at $345 as the overall progress has been reasonable.

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

The volatility has been on the decreasing side which means further uptrends are to follow in the future. Moving on, the Bollinger band values are as such that the upper band is at $379.6 whereas the lower band is at $299.4. The Relative Strength Index (RSI) score is now balancing itself at 53 after the rise in price.

Kusama price analysis: Cryptocurrency steps down to $357 after facing disadvantage

The four hours Kusama price analysis is confirming a drop in price as the bears made a comeback in the past few hours. The cryptocurrency is going through a loss as the price has been curtailed up to $356.67. The price was progressing quite smoothly during the earlier part of the day, but now the bears are exerting control once again. Other important indicators include the moving average indicator, and its value is settled on the $353 mark for now.

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

Although a crossover between SMA 20 and SMA 50 occurred previously, the current scenario is not going so favorable. The Bollinger bands Indicator also stands significant, and its upper value is sitting at $367.34 while the lower one is at $317. The bearish momentum has caused a decline in the RSI score as well as it has moved down to 58.43.

KSM/USD technical indicators chart. Source: TradingView

The overall trend is on the bullish side as the cryptocurrency has been enjoying greater profit for the past few weeks. More indicators are on the bullish side, as 14 indicators are on the buying position, ten indicators are on the neutral position and only two are on the selling one.

The moving averages indicator is favoring the bulls as well with a strong bullish signal. The buying position is holding 13 indicators, while the selling and neutral positions have one indicator each. The Oscillators are showing a neutral trend, as there are nine oscillators present on the neutral level, one on the buying level and another one on the selling level.

Kusama price analysis conclusion

The given one day and the four hours Kusama price analysis is dictating that a rise in price has occurred today as well. The price can be seen standing at $357 level, after the bullish comeback. If the cryptocurrency succeeds in maintaining its support above $299, a further uptrend is to follow in the coming week as well.

Disclaimer. The information provided is not trading advice. 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.

This post was last modified on October 8, 2021 3:42 pm

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

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