KSM Technical Analysis: Reversal From $60 Ready To Cross 100-day SMA

The Kusama (KSM) prices showcase a post-retest reversal from the 50-day SMA, preparing a bull run to the 100-day SMA at $82. Key Technical Points: The KSM prices jumped by 2.63% in the last 24 hours. The Kusama price takes a bullish turnaround with a morning star pattern formation. The 24-hour trading volume of Kusama is $80.52 million, indicating a hike of 78.86%. Past Performance of KSM As mentioned in our previous analysis, the Kusama (KSM) prices exceed the $60 mark and retest it with an evening star pattern. The prevailing reversal rally restarts with a successful post-retest reversal from $60, resulting in a bullish engulfing candle. Moreover, the bull run accounts for a price jump of 40% from the reversal point at $46 to the CMP at $65. Source – Tradingview KSM Technical Analysis The spike in the intraday trading volume trend reflects an increase in buying pressure supporting the possibility of KSM prices reaching the $82 mark. Hence, the uptrend shows a growth potential of 25% to reach the 100-day SMA as it sustains above the 50-day SMA. The RSI and the MACD indicators show over-the-top bullish support as the buying pressure grows drastically. The RSI slope rises gradually in the nearly overbought zone with the 14-day SMA support to breach the 70% barrier. Moreover, the MACD indicator shows a bullish of fast and slow lines continuing with the intensifying bullish histograms. In a nutshell, the KSM technical analysis sh...