Kusama Price Analysis: Bulls expect a reversal which could take KSM price up to $90
- Kusama price is showing a double top formation on the 4-hours price chart.
- Bears are turning aggressive for a sell-off near the key span A of the Ichimoku indicator.
- The price of bitcoin pair with Kusama coin is trading with a gain of 7.8% at 0.002372 satoshis.
Kusama Coin registered a dramatic decline after receiving rejection at the $200 ideological round level. The $200 mark is an important resistance area which has been retested twice in 2022. The bulls continue to reject the bounce-back in terms of the daily price chart.
Recently KSM price broke below the $50 area and reached the latest low of $43 Mark on June 13, 2022. At the time of writing, Kusama Coin is trading at the $48 mark amid a battle between Bulls and Bears.
KSM on 4-hours price chart
Kusama coin is showing a double top pattern against the USDT pair on the 4-hours chart and there is a neck to neck formation following the $65 area. KSM price recovered a bit from its recent lows but again failed to manage the cost above the red clouds of the Ichimoku Indicator.
The bull has resistance at $50 mart. Also, the bears are turning aggressive for a sell-off near the key span A of the Ichimoku indicator. Hence buyers need to push KSM price above this zone as soon as possible.
KSM on daily price chart
Meanwhile, the marker cap of KSM fell by 1.3% in the last 24 hours to $409 million as per CMC. Moreover, the price of bitcoin pair with Kusama coin is trading up 7.8% at 0.002372 satoshis.
In terms of the daily graph, the 20 EMA will be the most recent bullish barrier for buyers. The rest like the 50 and 100 EMAs are well above the current price.
Stoch RSI is in an oversold zone, buyers expect a bounce in Kusma coin.
Investors pray for a trend reversal in the Kusama coin near its annual low. But the bears still have a short term dominance point near the $50 mark.
Support level – $70 and $60
Resistance level – $100 and $115
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.