Kusama Price Projection: KSM Price Jump From $520.0, May Fall Back

Kusama price jumps from the support of $520.0
  • Kusama price jump from $520.0 to $526.12 on Wednesday’s trading session
  • The 24-hour volume in KSM is at $403,826,312 with a 16.08% decrease
  • The KSM/BTC pair was trading at 0.009046 BTC with a loss of 1.18%

The 4-hour technical chart highlights Kusama price jump with strong sustainability. According to pivot points, KSM’s critical support level is placed at $520.0. Whereas if it moves up, the key resistance level to watch is $570.0. While diving into the weekly chart of a 4-hour time-frame, it completes a bullish pin bar candlestick pattern representing bullish reversal with medium reliability.

SMA-21 & 50 acts as another strong support in the coin. SMA-21 (purple) is moving above the SMA-50 (white), which projects a bullish trend. The price is trying to sustain above SMA-21. Investors may perceive a positive crossover in the SMA, and the price will also follow positive direction.

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RSI indicator (BULLISH), with a value of 54.86, indicates a buy signal in the coin. Moreover, Investors can see a downward slope from 62 to 54 in the index, and it may plunge in future trading sessions.

The volume of (16.489K) represents a moderate buying volume which is below the Volume MA (18.989K) of 20-days. High buying pressure is required in KSM to drive its price to higher levels.

Kusama Price Jumps 20% on Weekly Timeframe

Kusama price traded at $526.12 with a loss of 2.57% in the last 24-hour and 16.41% up in the weekly time-frame. Furthermore, Kusama price jumps from the support of $520.0. In contrast, the market capitalization stands at $4.47 billion. Technically, investors can perceive a positive crossover in SMA, and the price is fighting to sustain above the 21-SMA. RSI index showcases a downward slope. Moreover, the price movement can be towards the support of $520.0 in future trading sessions.

Resistance: $570.0

Support: $520.0

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Nikhil Ingolehttp://themarketperiodical.com
Mr, Nikhil Ingole is a cryptocurrency technical analyst with over seven years of technical analysis trading experience in Forex and Indian stock market. As a commerce graduate, he has taken a keen interest in blockchain's future potentials in the financial industry. He possesses strong technical, analytical skills and is well known for his financial market's informative analysis. Other than crypto, Nikhil Loves to watch his favorite football team and keep up to date with the latest Formula 1 racing.

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