- Kusama price booms from $390 to $502 on Thursday’s trading session
- The 24-hour volume in KSM is at $858.84 Million
- The KSM/BTC pair was trading at 0.01342 BTC with a gain of 4.20%
The daily technical chart highlights that the Kusama price movement is in a bullish trend. According to pivot points, KSM’s critical support level is positioned at $385. Whereas if it moves up, the pivotal resistance level to watch is $562. While diving into the chart deeply, it completes a bullish engulfing candlestick pattern representing bullish reversal with high reliability.
The Ichimoku Cloud, consisting of lead 1 & lead 2 with a displacement value of 1. It functions as a pivot level and a leading indicator in the asset price change. Investors may witness the price breaches above the red Moku Cloud and now moves above the green Moku Cloud, so until the price resides above the green Moku Cloud, it will assure a bullish trend in KSM.
CCI indicator (BULLISH), with a value of 157, designates a buy signal in the coin. Moreover, Investors can notice a higher slope from -32 to 157 in the index, which may surge in future trading sessions.
The volume of (468.55K) represents a considerable buying volume bar above the Volume MA (282.06K) of 20-days. Investors may observe heavy volume has been loaded in KSM to drive its price to higher levels.
Kusama Price Action In Favour Of Bulls
Kusama price traded at $502 with a gain of 13.8% in the last 24-hour period and 10.5% up in a week. Furthermore, the Kusama price surges from the support of $385. In contrast, the market capitalization stands at $4.18 billion. Technically, investors can perceive price resides above the green Moku Cloud. CCI index showcases an upward slant. Moreover, the price move can stay towards the resistance of $562 in projected trading sessions.