- Price has declined up to $417.85.
- Kusama price analysis shows bearish trend.
- Support is still secured at $337.84.
The latest Kusama price analysis confirms that a bearish trend has been following for the past few days. The price has been devalued to a great extent, which has brought unfavorable consequences for the cryptocurrency. A drop in price was recorded in the last 24 hours as well, and the KSM/USD coin value has been lowered to $417.85. The bulls also made a failed attempt to regain their position, but the bearish trend proved overpowering.
KSM/USD 1-day price chart: Bears restrict price movement above $417.85
The one-day Kusama price analysis is showing a bearish trend for the day as the price has covered downward movement. The latest bearish attack has resulted in the price going below the $417 edge. This has cast quite a negative impact on the overall market value of KSM/USD. The price has been constantly declining since the past week, and today’s trend has been no different. The moving average (MA) in the one-day price chart is $452.44.
The short-term trending line is also moving descendingly; a further indication of a downtrend. The upper and lower Bollinger band values have been altered due to the shift in trends as well, as now the upper value is $503 and the lower value is $338. The Relative Strength Index (RSI) score has moved down to 51 as well.
Kusama price analysis: Price takes bullish turn hinting at further recovery
The four hours Kusama price analysis is showing slightly positive results for the cryptocurrency. The price has increased in the last four hours and has returned to its former height i.e. $418.45. The bearish trend had been at its peak during the past few hours, but the last four hours have proved encouraging for the buyers. The moving average value is standing at $433 whereas the Bollinger bands average is at $442.3.
The SMA 50 curve is still traveling higher than the SMA 20 curve as the dominating trend has been bearish. The upper Bollinger band is now touching the $472.05 position whereas the lower Bollinger band is at $412.5. The improvement in price has increased the RSI score to 38.31.
The overall indication regarding the price trends is towards the neutral side, as the number of indicators on the selling and buying sides are balancing each other out. We can see 10 indicators standing on the neutral position, while eight indicators each are present on the selling as well as buying position.
The moving averages indicator is displaying slightly encouraging results for the cryptocurrency. There is a buying signal with eight indicators at the buying level, six indicators at the selling level, and only one indicator at the neutral level. The Oscillators, on the other hand, are showing a negative trend as there are two indicators on selling position, nine indicators on neutral position, and zero indicators on buying position.
Kusama price analysis conclusion
The one-day and four hours Kusama price analysis is confirming that a downtrend has been dominating the market since the past week. The same trend has continued for today as well, as the price has been devalued to $418. Although the four hours price chart is giving a positive hint, the overall market trends have been bearish.
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