- Kusama crypto’s price stays neutral after a failed trend reversal in the last month
- The CMP of KSM dropped by 1% since yesterday’s closing mark with a positive weekly performance of 2%
- KSM’s struggle to get above the current market price is about to increase as per the indicators
Kusama’s price saw no change in its ongoing trend after entering 2022. The 59th ranked token with a market dominance of 0.11% stayed unchanged while taking its market cap down. The market cap of KSM is down by 1.98% during the intraday session. The 24-hour trading volume underwent a reduction of 14.77%. The overall volume to market cap ratio stands at 0.02515. The KSM/BTC current remains unchanged at 0.005932 BTC, while the KSM/ETH suffered a minor intraday loss of 1%.
The KSM hourly chart shows the current trend and past bullish attempts. The 50, 100, and 200 EMA rallies above the candlesticks in unison to indicate a neutral trend. The formation of a head and shoulders pattern after KSM‘s bullish attempt made itself fall back, making the trend reversal’s bullish action reverse. The volume surged during the bullish attempt, falling again to cancel any inconsistencies.
Kusama’s price to descend gradually says oscillators
The MACD line for the daily chart of KSM has flat-lined just below the zero level to indicate neutrality. The formation of three descending peaks shows the gradual reduction in the token’s price. The RSI graph stays neutral after returning from a sudden spike in demand. It is going to stay the same for some more time.
Conclusion- Kusama will continue suffering from a neutral trend during the intraday session while undergoing bearish momentum in the long run. Day traders may get some returns, while long position holders should look for the final dip as an entry point.
Resistance- 0.008 BTC
Support- 0.0045 BTC
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