- The RSI line shows a steady decline in value concerning the KSM coin price
- The KSM/BTC pair was trading at 0.007917 BTC with a loss of 2.36%
- The 24hr trading volume in KSM coin is $14.6 Million
The remarkable rally for the KSM coin entered a retracement phase after reaching a peak at $0.29 on September 12. Thus minor pullback has also managed to break down from the ascending trendline, which used to provide vital support to this coin. Till now, the price has plunged to the 0.5 FIB level, i.e., around 35% fall. However, The KSM chart shows a long lower price rejection candle at this level, indicating the presence of intense buying pressure.
Concerning the EMA’s, The KSM the coin price trading above the crucial EMA of 100 and 200, indicating a bullish trend in this coin. The coin price is currently obtaining good support from the 100 EMA line.
The RSI value (BEARISH) is 47, indicating a bearish sentiment within the KSM coin. Moreover, the RSI line also shows a steady downtrend in its chart.
KSM Coin Displays A Symmetrical Triangle Pattern
The KSM coin shows the formation of the symmetrical triangle pattern in the 4hr time frame chart. This pattern provides a short break to the coin price and helps to prepare another strong move. The Crypto traders interested in this coin can use this pattern for an entry opportunity when the price gives a decisive breakout from either trendline.
The moving average convergence/divergence indicator (BEARISH) shows that both the MACD and the signal line are moving below the neutral area(0.00), indicating bearish momentum in the KSM coin. These lines are also on the brink of crossing above the middle, which suggests a possibility of a bullish breakout of the above pattern.
Conclusion: from the technical perspective, the KSM coin indicates the bullish trend is still intact. And as mentioned, the price is trying to sustain above the 0.5 FIB level, encouraging the market buyers to continue their uptrend. If the triangle pattern gives a bullish breakout, it will trigger a great long opportunity for these traders.
Support- $306
Resistance: $355