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KUSAMA PRICE ANALYSIS; Will the coin reverse from the base of the channel

KUSAMA PRICE
  • The coin is trading at $202.40 around 4.42% down from the previous level 
  • The coin is reversing from the support and facing rejection from 20DEMA
  • The coin is trading at 0.006077 around 1.5%down concerning Bitcoin and 0.9934 around 1.05% up for Etherum 
Tradingview

The function of the coin is to provide a massively interoperable and scalable framework for developers. The market capitalization of the coin is around $1,707,595,953 and the circulating supply of 8,470,098.06 KSM. The volume of the coin is decreasing from last 1 week and the 24 hr volume of the coin is 8,470,098.06 KSM.

CHART ANALYSIS

On charts, we see that the coin is forming a channel pattern and trading in a downtrend. The base of the channel is acting as support which is at $189. The coin made an all-time high of $ 620 and fell from the all-time high to its support level. 

Indicator Analysis

Tradingview

According to the indicator analysis, we find out the coin is trading below its all exponential moving average. The price is facing rejection from 20 DEMA and 50DEMA is trading very close to the 200 DEMA if they cross each other we can see death cross and more fall in the coin 

RSI is neutral trading near 40.48. No sign of any divergence in the coin.

In MACD we see that the MACD line above the Signal line showing some temporary bullishness in the coin 

MAJOR SUPPORT AND RESISTANCE 

S1= $196.55 AND S2= $153.08

R1= $256.02 AND R2= $294.09