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Kusama Price Analysis: KSM likely to retest support, Bulls losing dominance!

  • KSM bulls losing strength, bears might cherish in the next few days. 
  • KSM might retest critical support levels, bulls might get tested. 
  • KSM/BTC is trading at 0.007027 BTC with an intraday change of +5.06% while the KSM/ETH pair is trading at 0.10088 ETH marking an intraday change of -9.06%.
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Kusama Price is currently trading below the significant 200 and 50 day moving average. Though the price is above the 100 day moving average, the price might retest the 100 day MA if it fails to break the 50 and the 200 day moving average. The 100 day moving average will act as support in the near future. 

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The relative Strength Index (RSI) is referring to bearish momentum with the RSI line failing to stand above the normal zone. The RSI line is currently below the normal zone and might fall to the oversold area if we encounter more selling. 

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The Moving Average Convergence Divergence (MACD) is also indicating a bearish momentum. Both the MACD line and the signal are below the zero line with the MACD line below the signal line thereby the histogram printing red bars signifying selling pressure. 

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The Fibonacci indicator is suggesting an immediate support at the $325.35 price level. The $295.85 and $259.35 are other support levels. The resistance levels indicated by the Fibonacci are the $354.85, $396.85 and $450.35. 

NOTE: The moving averages 50, 100 and 200 are in colour Yellow, White and Red.

The MACD line is coloured Blue while the signal line is coloured Red. 

The important support and resistance levels to keep an eye on are: 

SUPPORT: $325.35, $295.85 and $259.35

RESISTANCE: $354.85, $396.85 and $450.35.

TAKEAWAY: Considering all the technicals mentioned above, if the price continues the present momentum, we might see a pullback in the price of Kusama thereby testing crucial supports in the form of 100 day moving average and the ones suggested by the fibonacci indicator.