Home
News
•KSM/USD is currently priced at $53.53 and has increased by 3.60% over the past day
•The technical indicators suggest a positive outlook for the near term
•The trading volumes have decreased by 10.58% over the past day
Short Term View: KSM Coin is amongst the most abuzz as bulls lead the charge
The KSM price today is $53.53 USD with a 24-hour trading volume of $28,082,857 USD. KSM Coin is up 3.60% in the last 24 hours. The trading volumes have decreased slightly over the past day whereas the Volume to Market Cap Ratio stands at 0.06194 for the altcoin.
KSM Coin has been falling since reaching an all-time high price of $623.75 on May 18, 2021. The asset has shown signs of recovery recently as it is currently transacting above the 20,50 SMA on the four-hour chart, amid significant buying pressure. The buyers’ bullish objective is set at $58. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at $65. An alternative scenario of moving into a downward trend without a local increase in KSM price will take effect only after testing the local mark of $50 and fixing the price below it.
Long Term View for KSM Price
The RSI for KSM Coin is currently transacting at 48.35 as the RSI line has moved above the 14-day average line, which lends credence to the bullish bias. The bulls will be aiming to cross the halfway mark to further establish their dominance in the market. On the other hand, the presence of green histograms on the daily chart gives ammunition to the bulls as the MACD and signal lines continue to head towards the positive territory.
Conclusion
In the short term, the generally bullish sentiment for KSM Coin is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements. The next couple of days will provide us with an insight into the future course of the coin.
Support: $50-$45
Resistance: $58-$65
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.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
