- The price of KSM is trading at $22.86. The Kusama price is observing a rise of +3.39% in the last 24 hours.
- The 24H trading volume was at $ 6.593 million.
- The Kusama year-to-date return is -53.31%.
Kusama coin is a network of blockchains that authorizes developers to research and launch their projects. The coin is used for staking, fees and governance, on the network. The coin’s price has been crashing since its high in May 2021, but it has recently introduced its first and second batches of para chains, accompanied by Coinbase for staking rewards, and released its roadmap for 2022.
Trend Investigation
By considering trend and price information history, we can say that Kusama(KSM) is in a downtrend. The price has crashed by -9.57% within a week & we can say that Kusama is underperforming right now.
Kusama Trading Downwards
Technical Analysis (1D Timeframe)
KSM Price Analysis
EMA20&50: The KSM price is currently below the 20 and 50 EMAs, which indicates that the price will crash soon. If sellers continue to lower the price, it could drop further in a week. So, selling is suggested.
EMA100 & 200: The price of Kusama(KSM) at present is trading below 100 and 200 EMA which suggests the price could fall shortly. If the sellers continue to push the price downwards, it could fall more in its value within a week. Hence, indicating sell.
MACD: Based on this chart, we can see that the Kusama(KSM) coin is in a downtrend as the MACD line is below the signal line and both are negative and below the zero line. Therefore, it is indicating bearish momentum. The MACD line is at -1.30 and the signal line is at -1.07.
RSI: The 14 SMA has a value of 39.83 points and the RSI line is around 42.11. This indicates that the Kusama(KSM) market is in a bearish zone. The RSI is suggesting that the market may be losing steam.
Stoch RSI: The Stochastic RSI fluctuates between 0 to 100, with readings below 20 it is considered oversold and those above 80 reflect overbought conditions. The current %d line is at 14.40 and the %k line is at 24.70. It is indicating that Kusama(KSM) is in an oversold zone.
Supertrend: With the help of just two parameters period and multiplier this indicator works fabulously. At period value 20 and multiplier value 2, it shows signals of buy and sell. As shown in the chart it’s bearish.
A possible technical analysis based on these indicators & trendline:
- Based on these indicators, Kusama(KSM) has been in a downtrend, making lower highs and lower lows.
- The MACD line is below the signal line and zero. The MACD indicator shows a bearish crossover of the MACD line and the signal line, indicating a possible continuation of the downward momentum.
- The rsi indicator is hovering around the 40-50 level, suggesting a lack of clear direction as of now.
- The price is also below all EMAs, indicating strong resistance. The EMA’s indicate a bearish trend. The EMA’s (20, 50, 100, and 200) are all sloping downwards, confirming the bearish trend. The EMA-20 and EMA-50 are acting as a dynamic resistance.
Most of the indicators point to a bearish scenario for Kusama(KSM). Kusama(KSM) coin is trading at $22.86 as of today. The Kusama(KSM) coin has been in a downtrend since reaching it’s (ATH) of $623.23. The coin has recently bounced from its all-time low of $0.534. To conclude, the Kusama(KSM) coin is in a bearish trend and it needs a lot of buyer interest to break above resistance levels to reverse the trend. If it fails to do so, it may retest lower up to the support zones.
As per the trendline, it seems it’s respecting the trendline and it’s facing rejection exactly from the drawn trendline on the chart. From the point where it declined from the trendline, it’s been bearish but from the last couple of days. we can say, it’s taking support on the support zone. If it fails to sustain the price may reach the given nearest supports, if the supports are breached it can go downwards more soon. So, the price of Kusama(KSM) can continue to Fall.
Conclusion
According to the analysis, the indicators are supporting the bears. If the price continues to move under the seller’s control, it is expected to fall shortly from the current levels. Presently, the sentiments of investors and traders are bearish regarding the price of Kusama(KSM) in the 1D timeframe.
Technical Levels:
- The Nearest Support Zone – is $20.01 then $17.99
- The Nearest Resistance Zone – is $26.56 then $28.58
Disclaimer
In this article, The views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
