in

Kusama price analysis: Bears encounter defeat at $380 as bulls fight back

Kusama price analysis: Bears encounter defeat at $380 as bulls fight back 1


TL;DR Breakdown

  • The price has increased up to $383.
  • Kusama price analysis confirms bullish recovery.
  • Support is still available at $318.3 point.

The latest Kusama price analysis is confirming that the price has covered upward movement in the last 24-hours. The bearish pressure increased in the past few days, but the bulls managed to escape by taking price higher. The uptrend has been resumed as the bullish momentum overpowered the bearish attempts for lead. The price heightened up to the $382.72 level today as a consequence of the bullish return.

KSM/USD 1-day price chart: KSM value receives a boost above $382.7 level

The price is going high once again as the green candlestick has returned to the price chart. Although the cryptocurrency faced substantial loss in the last few days, the price is now moving in the ascending direction again. The KSM/USD price has reached a $382.72 position today, which is a moment of encouragement for the buyers. The price is above the moving average (MA) value as well which is currently settled at $362.32.

KSM/USD 1-day price chart. Source: TradingView

The SMA 20 curve is now traveling higher than the SMA 50 curve, which is another confirmation of the uptrend. The upper Bollinger band is touching $384.3 point whereas the lower Bollinger band is touching the $318.3 mark for now. The Relative Strength Index (RSI) score has also improved up to 58.51 level today.

Kusama price analysis: KSM price drops to $383 level amidst an ongoing upswing

The price is going down according to the four hours Kusama price analysis. The bulls had been leading quite consistently in the earlier hours, as an uptrend was at its peak. The price almost crossed the resistance present at $385, but the bears intervened by bringing the price down to $382.72. The price is still standing above the moving average indicators’ value, which is present at the $374.64 position in the four hours price chart.

Kusama price analysis: Bears encounter defeat at $380 as bulls fight back 2
KSM/USD 4-hours price chart. Source: TradingView

The Bollinger bands average has increased up to $373.75 after the rise in price in the prior weeks. Meanwhile, the upper value of the Bollinger bands Indicator is now standing at $385.04 while their lower value is found at $362.47. The RSI curve is has descended to 61.48 level because of the sudden drop in price.

Kusama price analysis: Bears encounter defeat at $380 as bulls fight back 3
KSM/USD technical indicators chart. Source: TradingView

The price has moved to a higher level if we compare the current scenario with the situation observed a few months back. The technical indicators chart for KSM/USD is thus giving out a positive hint for the buyers. There are 15 indicators on the buying position, nine indicators on the neutral, and only two indicators on the selling position.

The moving averages indicator is giving out a strong bullish signal for the day as well. This is why there are 13 indicators that are standing on the buying position, while both of the selling and neutral positions are holding one indicator each. The Oscillators, on the other side, are going neutral as there are eight oscillators at the neutral level, two oscillators at buying level, and one oscillator at the selling level.

Kusama price analysis conclusion

The one-day and four hours Kusama price analysis is confirming that the bullish momentum has been recovered during the day. The price has been able to rejoin the $382.72 position by receiving a bullish push. Although the price underwent a decline earlier, the bulls are yet again in the leading position.

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.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

What do you think?

“How Crypto Lending & Credit Aim to Kill Banks,” Industry Heavyweights to Discuss at LA Blockchain Summit

“How Crypto Lending & Credit Aim to Kill Banks,” Industry Heavyweights to Discuss at LA Blockchain Summit

Attention Traders !! Bitcoin Price May Plunge Below $50k!! This Is When?

Attention Traders !! Bitcoin Price May Plunge Below $50k!! This Is When?