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- The KSM price after trying to recover is falling continuously over the daily graph. The KSM price slumped 18.37% in just 3 days and is still falling.
- The Crypto asset has fallen below 20, 50, 100 and 200-days Daily Moving Average.
- The KSM/BTC pair is at 0.002353 BTC with a loss of 2.46%
Sister of the Polkadot project, Kusama is an experimental blockchain designed to provide an interoperable and scalable framework for developers, with the features that are not yet available on Polkadot. Kusama is unusual among blockchain platforms since it is predominantly built for developers that want to launch bold, ambitious projects, with a fast evolving pace of development.
The KSM price after trying to recover is falling continuously over the daily graph. The KSM price slumped 18.37% in just 3 days and is still falling. The bears are dominating the market single sidedly. Analysts believe if bulls didn’t come forward to rescue the coin, then it will be very difficult for the coin to make a recovery. The coin needs to attract buyers in order to prevent the system from collapsing. The price is moving below the exponential moving average currently.
The current price for one KSM coin is trading at $71.42 with a loss of 1.49% in its market capitalization in the last 24 hrs. The coin has a trading volume of 98 million with a loss of 44.27% in the 24 hrs trading session and a market cap of 606 million which is at loss of 1.17% in it. The volume market cap ratio is 0.1627.
Short term Analysis
Analyzing the graph for the short term (4 hrs) we can conclude for the same bearish rally as on the daily graph. The coin needs its bulls to get over the downtrend. Whereas the EMA ribbons are indicating a further downtrend.
The MACD indicator is also indicating the same as after the negative cross by the MACD signal line the gap between the 2 lines is getting broader and the histograms are also bleeding red.
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The relative strength is indicating the increase in selling as the line is moving toward the oversold region and no chances of reversal can be observed. The RSI value is currently below 40.
Conclusion
The KSM price after trying to recover is falling continuously across all time horizon. The coin needs to attract buyers in order to prevent the system from collapsing. The indicators are indicating for a bullish movement further
Technical levels
Resistance levels: $75 and $80
Support levels: $65 and $60
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 the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
