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Kusama Price Analysis: – The bulls couldn’t break the resistance and bears came. Will the bulls make a comeback or will the bears break support?

  • The trading volume of KSM Coin in the last 24 hours at the time of writing this article is + 0.02%
  • The price of KSM / BTC and KSM / ETH at the time this article was written is 0.005955 BTC and 0.07177 ETH, respectively.
  • The 20MA acts as a resistor

Long-term view: –

In the daily chart time analysis, the price is consolidating as the bulls and bears fight for a breakout. In the current consolidation phase, the 20MA acts as a support and the 50MA acts as a resistance. Let’s look at the technical indicator to see if the price breaks the support or is heading for resistance. First, the MACD shows green histograms as the MACD line is above the signal, but the MACD line changes direction and can soon be heading towards the signal line. When the cross is complete it will be bearish. It will be a sell signal for the traders. In addition, the RSI is in the neutral zone at 48 and the RSI line is sideways, which means that bulls and bears are having a good fight in the order book. Finally, the 20MA is below the 50MA and the 50MA is below the 100MA, which means that the moving average is showing a bearish move.

Trade view

Short term view: –

In the 4 hour time interval the 50MA acts as a resistor, the MACD shows red histograms as the MACD line is below the signal line, but the MACD line goes towards the signal line and when the cross is complete then it is a buy signal for dealers. Additionally, the RSI is in the neutral zone at 45 and the RSI line is pointing towards the oversold zone of 30, which means that the bears are winning the battle against the bulls in the order book. After all, the 20MA is above the 50MA and both are above the 100MA which is a bullish moving average sign.

Trade view

Conclusion: – In the long and short term the price is close to the support and the bulls are trying to push the price up but this will not be possible as the 4 hour chart is showing bearish movement, the MACD is showing red histograms and the RSI is pointing towards the oversold area of ​​30 which is a bearish sign. So this trend will soon be visible on the daily chart and the price will move towards the support and possibly break it.

Resistance: – $ 324, $ 369

Support: – $ 261, $ 237

DISCLAIMER – The views and opinions of the author or the persons mentioned in this article are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading in crypto assets carries the risk of financial loss.

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