Kusama’s price analysis shows that the downside momentum is picking up again as the price experience has declined in the last 24 hours. In the last few days there has been a downward trend with a certain upward movement and even now the price has fallen slightly. This is a pretty scary sign for buyers as the price has dropped to the $347.12 level. Chances of recovery seem slim as hourly forecasts suggest a downward trend.
KSM/USD 1-day price chart: Cryptocurrency enters danger zone as price hangs below USD 347
Kusama’s one-day price analysis shows a bearish trend for the day as prices fall. The bearish momentum has been increasing in recent days and today the trend is no different. The price was lowered to $347.12 after the recent downside price action. If we talk about the moving average (MA) indicator, then its current value is $344.
Volatility decreased slightly, indicating an uptrend going forward. The upper Bollinger Band value is $364.51 while the lower Bollinger Band value is $321.3 for a one-day price chart. Bollinger bands also support the $343 average. Finally, the relative strength index (RSI) is now 50.4.
Kusama price analysis: KSM depreciates to USD 347 after price movement down
The price is falling again as the last four hours have seen a bearish trend. Although the price recovered early for a short time, the latest trend favors the decline. The decline is quite detrimental to the market value of KSM as the price has been lowered to $347.12. The price is currently still below the moving average, which is $347.15 on the four-hour chart.
The average Bollinger Bar is at $347.63, while the upper Bollinger Bar shows a value of $359.50 and the lower Bollinger Bar shows a value of $335.76. The RSI also dropped to 50.37, which is a fairly neutral figure.
The price is relatively higher compared to the progress made in recent months. Therefore, the chart of the KSM/USD technical indicators shows a bullish trend with 15 indicators for long positions, nine indicators for neutral positions and only two indicators for short positions.
The moving average indicators also show strong support for buyers. There are a total of 12 buy position indicators, two short position indicators and only one neutral position indicator. The oscillator gives almost the same signal because there are eight oscillators in a neutral position, three in a buy position, until there is an indicator of a sell position.
Conclusion of Kusama price analysis
Kusama’s price analysis shows that there has been a downward movement in price over the last 24 hours, indicating a downward trend. The price fell to the level of $347.12 due to the steady downtrend that followed in the last few days. The price could drop in the next few hours, as the 4-hour price chart also shows a decline in price.