- Kusama price is trading above all the vital moving averages (MA) and looking strong at present levels
- The coin rebound sharply after testing the significant support line of 200-DMA and currently trying to sustain above all SMA of 20&100
- The pair of KSM/BTC is jumped over +6.45%, standing at 0.01064 BTC, whereas the pair of KSM/BTC is also trading positively with intraday gains of +5.08%
After taking support from the 200-DMA, Kusama price rebound is now placed above all vital moving averages. Meanwhile, the coin is looking strong and experiencing good buying interest from the lower levels. The closing of day candles above all essential moving averages will boost the confidence of bulls.
Volume traction over the monthly chart seems lower as it is falling gradually. Which has slipped below the average line and needs to improve in the upcoming trading sessions. Similarly, we can see higher levels in forthcoming trading sessions if the coin manages to sustain above all DMA with supportive volume action. Support on the lower side is $340 and $275, while resistance on the higher side is $445 and $490.
Kusama Price is Forming Rounding Bottom Pattern
Kusama price over the weekly time horizon is forming the rounding bottom pattern with gradual recovery from the lower side. The coin at the chart is now reaching the critical levels of make or breakpoint. As the breakout from the pattern gives bulls confidence, the technical parameters suggest an overbought situation. Currently, the digital asset is trading at $396 with an intraday gain of +7.45%, and a healthy retracement is can be seen. Likewise, the volume/market cap ratio is standing at 0.1005, and the coin’s positioning is at 33rd rank according to coinmarketcap.
Relative Strength Index (CAUTION): Kusama token RSI is presently projecting caution over the weekly chart, trading at 65 levels near the overbought territory.
Moving Average Convergence Divergence (NEUTRAL): Currently trading with the bullish or positive crossover on a daily chart. The buyer’s signal line (green) is stronger than the seller’s line (red) and can negatively crossover.
Support levels: $340 and $275
Resistance levels: $445 and $490.
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