- Kusma Coin is bullish on the hourly price chart.
- Weekly price action is forming a double bottom formation.
- The KSM pair price is down 2.7% at 0.002484 satoshis against BTC.
Kusama Coin (KSM) appears to be bullish this week, as the Weekly candle is in the green zone by 3.1%. The daily price of the KSM currency has begun to rise once more. Consumers recently witnessed violence in the previous month (August), with buyers losing more than 25% of the cost.
Since early September, buyers have been aggressive. As a result, the KSM currency has gained over 19% since its 30-day low. As of press time, the cryptocurrency is trading at 52.17 against the USDT pair.
After reversing twice from the recent lows at $43, weekly price action is forming a double bottom formation, which could take KSM’s price towards the conceptual round level of $100. But if the bulls fail to manage the $50-support level, it fails to form a bullish pattern turning point.
Meanwhile, the market cap of Kusama Coin increased by 5.5% in the last 24 hours to a record $442 million. However, trading volume has been rising over the past week and speculators saw an 18% increase to $28.2 million last night. Moreover, the KSM pair price is down 2.7% at 0.002484 Satoshis against BTC.
KSM Fluctuates Under Wide Horizontal Range
On the daily price scale, the Kusama coin remains inside a wide horizontal range of resistance between $43 and $70. But the RSI indicator is hovering over the semi-line, which suggests an upcoming bullish rally in KSM price.
Conclusion
Despite the weekly uptrend, Kusma Coin (KSM) remains in a broad horizontal range. Simultaneously, the RSI indicator started moving above the semi-line.
Support level – $45 and $40
Resistance level – $70 and $100
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish any financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.