Kusama Looks Bullish, Can Price Break Weekly Resistance Of $50?

  • Kusama (KSM), is bullish in a longer timeframe.
  • Kusama (KSM), Kusama price eye a reclaim 50 Exponential moving average (EMA), on the daily timeline. 
  • Kusama (KSM), the price, aims to surpass 50 EMA during the fourth quarter.

Kusama has struggled recently, but it has displayed great strength and bounced up in a higher and lower timeframe. Kusama’s (KSM), price is struggling to stay bullish. The price dropped from an all time high of $600, to $38, and the price continues to fall with no hope for a rebound against USDT. Data from Binance 

Kusama (KSM), Price Analysis on The Daily Chart 

KSM’s price has declined from $600 down to $38, a 70% drop from its peak, but it still showed great strength. The daily low was $38. Now the high is $43. Price eyes major resistance around $50. To trend higher, the KSM price must break this resistance and stay above it. 

The KSM price on the daily charts looks solid despite some volatility on the crypto market. With eyes on breaking the $50 daily resistance, the KSM price is expected to remain strong. KSM must move above the $50 region and remain there in order to show more bullish sentiment. KSM could retest $40-$45 if it is rejected.

REEF’s price is trading at 0.0048$ below its resistance; the price of REEF needs to hold above $0.007 to avoid the price from going lower due to the sell-off. The REEF price could hold at this level, indicating more confidence in a rally toward its resistance of $0.007 or breaking above it.

Weekly resistance at the KSM price- $50

Daily support for the price of KSM – $38.

KSM Price Analysis on the Four-Hourly Chart (4H)

KSMUSDT Four-Hourly Price Chart| Source: KSMUSDT On Tradingview.com

KSM’s 4H price chart shows that after hitting a low price of $38, it bounced back to $43, and is now trying to surpass the 50 Exponential Moving Averages (EMA).

The price of KSM currently trades at $43. This is just under the 50 Exponent Moving Average (EMA), which is trying to break this area and keep it above the region. It acts as resistance for KSM’s price. Price of KSM at $43 is the resistance level at 50 EMA. 

We expect that the KSM price will retest $40 if it fails to recover this area. This would allow for greater demand and push the price higher.

KSM’s Relative Strength Index is (RSI), above 50 on the 4-hourly chart. This indicates decent volume of buy orders. 

Daily resistance for the KSM price – $45.

Daily support for the KSM price – $38.

Featured Image from Capital and Charts From Tradingview

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