Kusama Price Analysis: Bulls Manage KSM Price Above 20-DMA, Can Buy Crypto Here?

• Kusama Coin underperforms under a broad horizontal range of $45 to $68.
• After accumulation, the bulls finally manage to hold the price above the 20-day SMA.
• KSM pair price with bitcoin is up 4.56% in green zone at 0.002531 Satoshis.

Kusama Coin (KSM) again started an upward move in the daily price scale. Buyers recently witnessed a horrific bloodbath in the last month (August), where buyers lost more than 25% of the cost. The bulls later attempt to reverse the previous bearish trend in an uptrend.

Buyers have been looking aggressive since early September. As a result, the KSM token is up 6.1% so far. Thus, against the USDT pair, the altcoin is trading at the $50 mark at the time of writing. The USDT pair is attracting a high-low formation on the daily price scale.

The weekly price action is showing a type of double bottom formation near the 2022 lows. Nevertheless, the KSM coin has been underperforming under the broader horizontal of $45 to $68 for the past several weeks. Buyers will have to exert heavy buying pressure near key resistance levels.

The market cap was recorded at $425 million in the last 24 hours, up 4.5% in the green according to CMC. After accumulation, the bulls finally manage to hold the price above the 20-day EMA. Moreover, the price of KSM pair with Bitcoin is up 4.56% in Green Zone at 0.002531 Satoshis.

RSI is Going to Reach a 50-Mark 

on a daily value scale, the RSI indicator is approaching a semi-line with a high-low formation. Moreover, MACD seems to be flat in a negative zone.

Conclusion

Kusma Coin is looking at a 20-day moving average on the daily price scale. Now it has changed from the second sale to the buyer’s hedge zone.

Support levels – $45 and $40

Resistance level – $70 and $100

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 any financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Steve Anderrson

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.