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- After declining for a few days, the KSM price is presently rising in line with the conventional cryptocurrency on the daily price chart.
- The technical indicators appear to be manipulative over the daily price chart.
- The KSM/BTC pair is at 0.002712 BTC which is at a gain of 0.71%.
The KSM price after falling for some days is now recovering following the traditional cryptocurrency over the daily price chart. The bears made the price fall 15% in just 3 days and following the BTC the whole crypto market is at an uplift. This uplift is helping bulls which is necessary for the coin as the KSM price is moving near its all time low once again. If the bulls didn’t make a consistent effort the coin may face a collapse soon.
The trading volume for KSM is still at a decrease of 7% which should be the prime concern of the bulls now, to make this recovery continuous the volume should be pumped which in turn will pump the price. The KSM price made a recovery from a lower low of $60.15. The ones who are willing to enter the market can bounce in now as the price is once again back to its all time low.
The current price for one KSM coin is moving at $63.04 which is at a gain of 2.53% in its market capitalization in the last 24 hrs. The coin has a trading volume of 34 million which is at a decrease of 7.34% in the 24 hrs trading session and has a market cap of 535 million. The volume market cap ratio is 0.06525.
What do Technical Indicators Suggest for KSM?
While observing the hourly price chart we can observe an initiation of bearish movement, which may soon reflect over the daily price chart.
The MACD over the daily chart shows the sellers signal line is moving above the buyers line and the red histograms are increasing with time indicating the increase in bearish dominance. The relative strength index on contrary to MACD is climbing and showing the manipulative behavior of technical indicators. The RSI value is above 50 currently.
Conclusion
The KSM price after falling for some days is now recovering following the traditional crypto over the daily price chart. If the bulls didn’t make a consistent effort the coin may face a collapse soon.The KSM price made a recovery from a lower low of $60.15. Observing the hourly price chart can give us an idea about initiation of bearish movement and the technical indicators appear to be manipulative this time.
Technical levels
Resistance levels: $69.2 and $72.9
Support levels: $57.49 and $51.19
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.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
