- Kusama price analysis shows bullish dominance.
- Support for KSM/USD is present at $402.
- Resistance to be met at $429.
The Kusama price analysis reveals that the cryptocurrency is in bullish mode. The price of KSM/USD had increased today as well after a steep jump of yesterday when it hiked from $371 to $409. Kusama broke above the psychological mark of $400 yesterday. The next resistance for KSM/USD is present at $429; in contrast, support is present at $402. Yesterday’s jump helped KSM/USD to continue marking the higher highs, which it seems to be marking for the entire last month as the overall price trend line is upwards.
KSM/USD 1-day price chart: Bulls march towards the resistance of $429
The 1-day price chart for Kusama price analysis shows the price is traveling upwards today as KSM/USD pair is trading at $415 at the time of writing. KSM/USD price moved above the moving average yesterday, marking a bullish crossover. The KSM has gained a value of 14 percent over the last 24 hours and shows an improvement of four percent in price value over the last week. The market cap has improved by 13.6 percent and the trading volume increased by 98 percent during the last 24 hours.
The volatility for KSM/USD pair has started to increase as the Bollinger bands started expanding today after converging slowly prior. The upper band is at $414, which represents support for KSM and the lower band is at $333, making an average at $374.
The relative strength index (RSI) is in the upper half of the neutral zone, trading at index 63 near the overbought zone. But chances are less for it to enter the overbought region.
Kusama price analysis: Recent developments and further technical indications
The 4-hour Kusama price analysis shows the KSM price is on an upward trend from the last 26 hours, and no bearish intervention has been observed during this time, as the price flow was constantly upwards. This helped the cryptocurrency gain significant value as the price went high to the extent of marking a monthly high.
The volatility is quite high on the 4-hour chart as well as the volatility indicator shows vast expansion with the upper Bollinger band at the $412 mark and the lower band at the $344 mark, making an average at the $378 mark. The RSI has entered the overbought region from yesterday and is trading on an upwards curve at index 73 in the 4-hour chart, indicating overwhelming buying activity in the market for KSM/USD.
The technical indicators for Kusama are strongly on the bullish side as 15 technical indicators suggest buying of KSM assets, and only two indicators oppose the idea and are giving sell signals; however, around nine technical indicators stand neutral and don’t favor either side of the market.
Kusama price analysis conclusion
The Kusama price analysis suggests the cryptocurrency is highly bullish, and such a continuous upwards trend has never been observed during past months. After continuing to go up for such a period of time, there are imminent chances for a correction to take place in the coming hours, as the RSI on the 4-hour chart has already entered the overbought zone and can give a sell-off call any time, therefore cautious trading is advised beyond this point.
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