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Kusama price analysis: Selling pressure halts bullish momentum at $334, whats next?

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Kusama price analysis is bullish today.
KSM found strong support at $317.
Strong resistance is present at $336.

The Kusama price analysis shows price breakout was upwards today. Bulls covered a good range from $317 to $338. But the resistance present at $336 does not seems like an easy mark to maintain because selling pressure is quite powerful at this stage, and KSM/USD has come down to settle at $334 at the time of writing.

The overall broader crypto market today is bullish as most of the crypto assets are reporting gains over the last 24 hours, including the king Bitcoin, Ethereum, Tether, and most altcoins show improvement today. The Binance Coin and Axie Infinity are the top gainers, with eight and 10 percent gains, respectively.

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KSM/USD 1-day price chart: Bulls feel defenseless as bears reject further growth

The 1-day Kusama price analysis shows price spike was very swift at the start of today’s session, but selling pressure is enormous in the market for KSM/USD, and the price is dropping again after touching the $338 level.

Kusama price analysis: Selling pressure halts bullish momentum at $334, whats next? 1
KSM/USD 1-day price chart. Source: Tradingview

The volatility is mild but slightly increasing, as the Bollinger band values are as follows; the upper band is at the $457 mark, and the lower band is at the $283 mark. The mean average line of the Bollinger bands is above the price level.

The relative strength index (RSI) is present in the lower half of the neutral zone and shows a score of 46, but the indicator’s movement is still upwards, which shows the support above $317 is strong enough and can counter the selling activity, which started in the recent hours.

The MACD is still bearish as the price trend line has not changed yet, and the histogram still supports the bearish side as is evident from the light but taller bars; however, the indicator shows declining bearish momentum. The MACD has remained bearish since 16th September, when the price trend diverted towards the lower side.

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Kusama price analysis: Bulls to rely on $317 support again

The 4-hour price chart for Kusama price analysis shows bears have over the market again as selling pressure is increasing with time and the KSM/USD is losing value. The hourly price movement is again taking shape as that of the last two days, where the price goes up near the upper limit of Bollinger bands and then again revert back towards the lower band, and today seems no different. Though today’s price function is still in greens, bears are pulling the price down fast.

Kusama price analysis: Selling pressure halts bullish momentum at $334, whats next? 2
KSM/USD 4-hours price chart. Source: Tradingview

The volatility is mild on the hourly charts, but at the same time, the price swing is high as it is again traveling down towards the mean line of the Bollinger bands, and there are imminent chances of it crossing it down towards today’s support level. As can be seen in the 4-hour chart, the relative strength index (RSI) has taken a downward curve as well, hinting at a drop to follow in the coming hours.

Kusama price analysis: Selling pressure halts bullish momentum at $334, whats next? 3
KSM/USD technical indicators chart. Source: Tradingview

Overall technical indications show mixed market sentiment as 10 technical indications favor selling of KSM/USD assets, and eight technical indications support buying of the crypto assets, thus favoring the selling side marginally. In comparison, eight technical indications stand neutral and don’t favor any side of the market. Among the short-term moving averages, only MA10 supports the buying decision. And among oscillators, the Momentum oscillator supports the buying side along with two other oscillators.

The Kusama price analysis: Conclusion

The Kusama price analysis suggests instability for KSM/USD. Today we expect KSM/USD pair price to drop down to $317 support again; even a little lower can also be expected. But as can be seen, the Kusama price function has defined a movement pattern during the past few days, and the price is moving in the same channel, so we can assume the play is over for intraday traders as of today, but for those who are holding assets till tomorrow, there exist brighter chances.

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Kusama Parachain Auctions: DeFi Protocol Genshiro Wins the 15th Auction

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Kusama parachain auctions are running smoothly, and the team has announced the conclusion of the 15th auction with DeFi conglomerate Equilibrium’s sister network Genshiro as the winner.

The official Twitter account of Kusama made the announcement on Monday, November 22. With the conclusion of the 15th parachain auction, Genshiro will be onboarded as the 16th Kusama parachain at the start of lease period 17 on November 27.

The announcement reads:

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According to the data provided by auction tracker Polkadot.js, these more than 4.8K stakeholders locked 47,425.5262 KSM tokens in Genshiro crowdloan. The 16th has also begun on Monday in which 6 parachain projects are competing for the next parachain slot.

As Crypto Economy reported, these auctions are part of the third batch of parachain auctions, in which 24 auctions will be held on a weekly basis. Winning parachains will be connected to their slots at the beginning of the next lease period. Now the auctions for parachain slots 12 to 15 have ended, Picasso, Bit.Country, Quartz, and Genshiro will be onboarded at the beginning of lease 17 on November 27, for the period ending on November 7, 2022. The next 5 parachains will be connected at the start of lease 18.

Genshiro is a sister network of Polkadot-based DeFi conglomerate Equilibrium. The protocol is comprised of a money market and a cross-chain DEX and aims to be a cross-chain DeFi one-stop shop to allow users to lend, borrow, stake, swap, trade, and earn.

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On the other hand, parachain auctions for the main Polkadot chain have also begun. As reported, the first auction commenced on November 11 and ended on November 18 with Acala, the DeFi hub of Polkadot, reserving the first Polkadot parachain slot. In the auction, over 81K participants contributed more than $3.2 worth of DOT tokens to the Acala crowdloan.

The Polkadot and Kusama architecture will be composed of as many as 100 parachains that are connected to and secured by a central Relay Chain. Parachains are independent purpose-built blockchains connected to the Polkadot or Kusama Relay Chains via an open, permissionless auction. To win a place on Realy Chain, parachains must outbid each other in auctions to earn a lease, both for the initial launch and again for renewal once the lease period expires.

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Kusama price analysis: Bearish slope indicates downfall in price up to $418 low

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  • Price has declined up to $417.85.
  • Kusama price analysis shows bearish trend.
  • Support is still secured at $337.84.

The latest Kusama price analysis confirms that a bearish trend has been following for the past few days. The price has been devalued to a great extent, which has brought unfavorable consequences for the cryptocurrency. A drop in price was recorded in the last 24 hours as well, and the KSM/USD coin value has been lowered to $417.85. The bulls also made a failed attempt to regain their position, but the bearish trend proved overpowering.

KSM/USD 1-day price chart: Bears restrict price movement above $417.85

The one-day Kusama price analysis is showing a bearish trend for the day as the price has covered downward movement. The latest bearish attack has resulted in the price going below the $417 edge. This has cast quite a negative impact on the overall market value of KSM/USD. The price has been constantly declining since the past week, and today’s trend has been no different. The moving average (MA) in the one-day price chart is $452.44.

Kusama price analysis: Bearish slope indicates downfall in price up to $418 low 1

The short-term trending line is also moving descendingly; a further indication of a downtrend. The upper and lower Bollinger band values have been altered due to the shift in trends as well, as now the upper value is $503 and the lower value is $338. The Relative Strength Index (RSI) score has moved down to 51 as well.

Kusama price analysis: Price takes bullish turn hinting at further recovery

The four hours Kusama price analysis is showing slightly positive results for the cryptocurrency. The price has increased in the last four hours and has returned to its former height i.e. $418.45. The bearish trend had been at its peak during the past few hours, but the last four hours have proved encouraging for the buyers. The moving average value is standing at $433 whereas the Bollinger bands average is at $442.3.

Kusama price analysis: Bearish slope indicates downfall in price up to $418 low 2
KSM/USD 4-hours price chart. Source: TradingView

The SMA 50 curve is still traveling higher than the SMA 20 curve as the dominating trend has been bearish. The upper Bollinger band is now touching the $472.05 position whereas the lower Bollinger band is at $412.5. The improvement in price has increased the RSI score to 38.31.

Kusama price analysis: Bearish slope indicates downfall in price up to $418 low 3
KSM/USD technical indicators chart. Source: TradingView

The overall indication regarding the price trends is towards the neutral side, as the number of indicators on the selling and buying sides are balancing each other out. We can see 10 indicators standing on the neutral position, while eight indicators each are present on the selling as well as buying position.

The moving averages indicator is displaying slightly encouraging results for the cryptocurrency. There is a buying signal with eight indicators at the buying level, six indicators at the selling level, and only one indicator at the neutral level. The Oscillators, on the other hand, are showing a negative trend as there are two indicators on selling position, nine indicators on neutral position, and zero indicators on buying position.

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Kusama price analysis conclusion

The one-day and four hours Kusama price analysis is confirming that a downtrend has been dominating the market since the past week. The same trend has continued for today as well, as the price has been devalued to $418. Although the four hours price chart is giving a positive hint, the overall market trends have been bearish.

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Kusama price analysis: Bears stop the bullish trend to keep Kusama below $450

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  • The Kusama price analysis reveals the latest trend has been bearish.
  • Bears have drawn the KSM/USD price levels to $436.
  • Support for KSM is present at $418.

The Kusama price analysis shows that selling pressure has built from the bearish side. The market followed the bullish trend for the entire last week as the coin gained significant value during this time, and a correction was due for continuing further upside later on.

The Tides have turned today as the bears have halted further up move today, and the crypto pair has started a correction. However, support is present at $418 and may stop the price slippage below this point.

KSM/USD 1-day price chart: Kusama rejected at $450

The 1-day price chart for Kusama price analysis shows bears are defining the price curve today. The KSM/USD is correcting after the bullish recovery of yesterday. KSM/USD pair is trading hands at $436 at the time of writing. The past week overall proved successful for the crypto pair as it gained 17.25 percent value over this time, as the price elevated to the five-month high on 3rd November. But today, the trend has been different as the bears are defining the price function by dragging the price down. The moving average (MA) is standing at $416 below the price level.

Kusama price analysis: Bears stop the bullish trend to keep Kusama below $450 1
KSM/USD 1-day price chart. Source: TradingView

The volatility for the given price chart of KSM/USD is on the increase as the Bollinger bands are expanding on to more and more area, with the Upper band at $459 and the lower band at $331, making an average at $395, representing support for the correcting price. The relative strength index (RSI) is also confirming the downtrend for today as it is on a steep downwards curve at index 62, indicating high selling activity in the market.

Kusama price analysis: Recent developments and further technical indications

The 4-hour price chart shows that bearish momentum has been gaining strength over the past few hours despite the price breakout being in the upwards direction today. No sign of bullish efforts has emerged as the last candlestick is red in color, indicating continuous bearish activity.

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Kusama price analysis: Bears stop the bullish trend to keep Kusama below $450 2
KSM/USD 4-hours price chart. Source: TradingView

The Bollinger Bands on the 4-hour chart have been keeping their average at $442, which now indicates resistance for the KSM/USD pair, whilst the upper band is at $457, and the lower band is at the $427 mark, which represents support for the crypto pair. The RSI has fallen near the centerline of the neutral zone at index 51 and continues to move down with time.

As the overall environment is bullish for Kusama and the coin has been continuously marking higher highs since the altcoin season started, the technical indicators for Kusama price analysis are yet bullish, as around 15 technical indicators suggest buying of KSM assets, and only three indicators suggest selling off of KSM assets, however eighth technical indicators stand neutral and do not favor either buying or selling, out of a total of 26 technical indicators.

Kusama price analysis: Conclusion

The Kusama price analysis shows that the coin is correcting today and may continue to follow a downtrend for today as bears rule the market. The support present at $418 is strong enough to keep the crypto afloat above, we can assume safely for the Kusama to soon get some bullish help, and the price may not go below $430.

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