- KSM Token price has reversed from $240 and might soon hit the $190 mark
- KUSAMA is trading above all the daily EMAs, forecasting bullish crossovers.
- The KSM/BTC pair is trading at 0.007875 BTC with an intraday fall of -0.26%
KSM Token price broke above the $350 mark, leading to a solid bullish engulfing candlestick formation. As a result, the token price increased more than 50% in the past week due to the increased buying pressure.
The crypto asset price has struggled to stay above $350 since the jump of nearly 50%. However, coin prices are now retracing back as a retest that may shortly drive the prices higher back.
The KSM Token trades at $377, decreasing -0.57% in market capitalization over the past day, suggesting that the price will continue to rise as it approaches the retest.
KUSAMA’s intraday trading volume has increased by 26%, indicating that investors with bullish intentions are less interested in the stock.
Bulls Excited With Dip In KSM Token Price
The technical chart for the 4-hour reveals that trading volume increased in the KSM token price. Thus, bullish momentum continues to drive the price action. The formation of bullish candlesticks continues to be a sign of this.
Technical analysis of KUSAMA’s price action indicates that a bullish breakout may have difficulty rising above $410- $450. Furthermore, if prices breach the 20-period EMA, the bearish tendency may drop below 30% to 50%.
As RSI approaches the overbought area, bullish momentum is unmistakable by the RSI indicator.
The ADX indicator designates a rush in momentum for the price trend.
The trend is strengthening, and overall bullishness is increasing, according to ADX & RSI.
Conclusion – KSM Token price reversed from the $410 and now heads back to the $350 mark. Investors could see the $350 marks pushing the price back up again to hit the $450 mark.
Support – $350 and $325
Resistance – $450 and $475