Kusama (KSM) Eyes To Replicate Aave’s Strength, Can Price Flip $45 Resistance?

  • KSM’s price struggles to hold above key support as price trades in a downtrend channel as price eyes a possible breakout. 
  • KSM continues to struggle as prices get rejected in a downtrend price channel after losing support to bears. 
  • The price of KSM trades below $45 for the first time after a while as the price continues its movement below 50 and 200 Exponential Moving Averages (EMA) on the daily timeframe. 

Kusama (KSM) hasn’t looked as strong as it should, as the price has lost its key support and has tested it several times against tether (USDT). With the price of Aave attempting to gain traction, it was expected that Kusama (KSM) would follow suit, but the crypto market has a way of turning things around. With so much uncertainty in the crypto market, this could be a significant factor, as the price of Bitcoin (BTC) and other crypto assets such as Ethereum (ETH) have seen a slight setback in their price movement, with the price of KSM experiencing a delayed movement. (Data from Binance)

Kusama (KSM) Price Analysis On The Weekly Chart

Most projects have fared poorly in the bear market, with many experiencing price declines of more than 50%, discouraging most traders and investors from stockpiling these assets.

With Bitcoin’s dominance (BTC.D) increasing, the price of most crypto assets may suffer. If BTC.D rises above 45%, altcoins will fall further with each minor price rejection for BTC.

Following a rally to a high of $600, the price of KSM encountered resistance to trend higher to a new all-time high, as the price has struggled to replicate such price action, with the price experiencing more of a downtrend than an uptrend.

The price of KSM saw a rejection to a weekly low of $43 as the price has since struggled to bounce off from this low to a high of $60. 

Weekly resistance for the price of KSM – $45.

Weekly support for the price of KSM – $30.

Price Analysis Of KSM On The Daily (1D) Chart
Daily KSM Price Chart | Source: KSMUSDT On Tradingview.com

In the daily timeframe, the price of KSM continued to struggle as bulls could not defend the key support region of $45.

After falling to a low of $37, where the price formed good support, KSM rallied to a high of $47, where it was rejected, and has since moved in a downtrend channel with no buy volatility.

The price of KSM needs to break out of its downtrend in order to trend higher; if this structure holds, the price could drop to $30.

Daily resistance for the KSM price – $45.

Daily support for the KSM price – $37-$30.

Featured Image From zipmex, Charts From Tradingview 

Kusama Looks Bullish, Can Price Break Weekly Resistance Of $50?

  • Kusama (KSM) looks bullish on a lower timeframe.
  • Kusama (KSM) price eyes a reclaim of 50 Exponential Moving Average (EMA) on the daily timeframe. 
  • Kusama (KSM) price aims to break above 50 EMA in the 4H timeframe.

Kusama (KSM) has had a tough time recently but has shown great strength bouncing up in higher and lower timeframe. Kusama (KSM) price has struggled to remain bullish as the price fell from an all-time high of $600 to $38, with the price maintaining a downtrend with little hope of a relief rally or bounce against tether (USDT). (Data from Binance) 

Kusama (KSM) Price Analysis On The Daily Chart 

Despite a decline in its price from $600 to $38, over 70% decline from its all-time high, the price of KSM has shown great strength as it bounced from its daily low of $38 to a high of $43 as price eyes a major resistance at around $50. The price of KSM needs to break and hold above this resistance for the price to trend higher. 

The price of KSM on the daily chart looks strong despite seeing some volatility across the crypto market, with eyes set on breaking the daily resistance of $50. KSM price needs to break and hold above this region to assume more bullish sentiment; if the price gets rejected, we could expect the price of KSM to retest $45-$40.

REEF’s price is trading at 0.0048$ below its resistance; the price of REEF needs to hold above $0.007 to avoid the price from going lower due to the sell-off. If the REEF price holds this region, there could be more belief of a rally to its resistance at $0.007 and possibly breaking and holding above this region.

Daily resistance for the price of KSM- $50.

Daily support for the price of KSM – $38.

Price Analysis Of KSM On The Four-Hourly (4H) Chart
Four-Hourly KSM Price Chart | Source: KSMUSDT On Tradingview.com

The 4H timeframe shows the price of KSM, after touching a low of $38 price bounced to a region of $43, where it attempts to break above the 50 Exponential Moving Average (EMA).

On the 4H timeframe, the price of KSM is currently trading at $43, just below the 50 Exponential Moving Average (EMA), trying to break and hold above this region, acting as resistance for the KSM price. The price of $43 corresponds to the resistance at 50 EMA. 

If the price of KSM fails to reclaim this major area, we expect the price to retest the region of $40 for more demand to push the price to a higher height.

The Relative Strength Index (RSI) for KSM is above 50 on the four-hourly chart, indicating decent buy order volume. 

Daily resistance for the KSM price – $45.

Daily support for the KSM price – $38.

Featured Image From Capital, Charts From Tradingview