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Kusama price analysis: Bullish momentum rescues price to $368 level

Kusama price analysis Bullish momentum rescues price to level

TL;DR Breakdown

  • The price levels have reached $368.2.
  • Kusama price analysis shows bullish recovery.
  • Support is eminently strong at $321.1.

The bulls have been able to make a successful comeback during the day and have restored the bearish momentum. The price underwent an abrupt drop earlier this week, but now the price is advancing after regaining stability. Overall, the bulls have been leading the market for the past two weeks, and today the uptrend has been resumed. The price is expected to move forward then its current level i.e. $368.2 soon.

KSM/USD 1-day price chart: Cryptocurrency to chase its next target after regaining balance

The price is headed upwards once again as the bulls have returned according to the one-day Kusama price analysis. The bulls lost their momentum in the past few days as the cryptocurrency faced a significant amount of loss due to bearish resistance. But now the price has resettled on its former height i.e. $368.19 and is expected to cross it in the coming days as well. The moving average (MA) value is now on the $378.4 level.

Kusama price analysis: Bullish momentum rescues price to $368 level 1
KSM/USD 1-day price chart. Source: TradingView

It is expected that the upward trending line will be restored in the upcoming days. The Bollinger bands average is going at $363.6, whereas the upper band of the Bollinger bands Indicator is at $406.1 and its lower band is at $321.06. The Relative Strength Index (RSI) is showing an average figure of 51.32.

Kusama price analysis: Bullish momentum revitalized as KSM value recovers

The four hours Kusama price analysis is confirming that the bulls have made a recovery according to the latest updates. The bullish momentum has been restored and the price has regained its balance above the $368 point. The bulls have been progressing efficiently since the past few hours, and an increase in price has been observed in the last four hours as well. The price has crossed the moving average limit as well i.e. $367.4.

Kusama price analysis: Bullish momentum rescues price to $368 level 2
KSM/USD 4-hours price chart. Source: TradingView

The SMA 20 curve is expected to soon go above the SMA 50 curve if the bulls keep advancing. The decreasing volatility has changed the upper Bollinger band value to $399.90 and the lower Bollinger band value to $349. The RSI score has been uplifted to 43.90 as well after the latest upturn in price.

Kusama price analysis: Bullish momentum rescues price to $368 level 3
KSM/USD technical indicators chart. Source: TradingView

The general overview of the price movement, during the past few months, shows that the bulls have been leading for the most part. More bullish trends have been observed as there are 13 indicators on the buying side, while four indicators are on the selling and nine indicators are on the neutral side.

The moving averages indicator is further confirming the upward trend by giving a strong bullish signal. We can see 12 indicators standing on the buying position, two indicators on the selling position, and only one indicator on the neutral position. The Oscillators are indicating a neutral trend as there are eight oscillators on the neutral position, two on the selling position, and only one oscillator on the buying position.

Kusama price analysis conclusion

The bulls have made a return today as green candlesticks are seen ruling the one-day candlestick chart. The improvement in price has been considerable and the price has reached the $368.2 position once again. Although the bulls encountered overwhelming pressure from the bearish side previously, they have managed to secure their win again, and further improvement is also expected.

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.
Arnold Kirimi

Arnold Kirimi

Arnold is a crypto and blockchain enthusiast. A communications expert with interest in hard-hitting journalism, he is always on the hunt for the latest events in the cryptocurrency world. He is inspired by what Bill Gates said, “Bitcoin is a technological tour de force.”

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