KSM Technical Analysis: Will Buyers Bring Market Value Above $100?

KSM price chart shows a trendline breakout rally struggling to approach the $100 mark due to the excessive selling at $80. Key technical points: The KSM market value increased by 8.63% in the last 24 hours. Price action hints at a rounding bottom breakout. The 24-hour trading volume of Kusama is $148 Million, indicating a hike of 43%. Past Performance of KSM KSM Prices have been caught in a bearish spiral that accounts for a 70% decline and a lower high pattern. The declining market value as the downtrend gained momentum made a resistance trendline stopping every bullish attempt under control and preventing any trend reverse. But the bullish stronghold at $60 helps the market regain bullish strength and pushes it above $80 leading to the trendline breakout. Source- Tradingview KSM Technical Analysis The trendline breakout rally struggles to push the KSM market value above the $82 resistance level despite the increase in trading volume we saw yesterday. This indicates a large supply dump ready above $82 from traders and investors looking to book their profits. The Daily Moving Averages – 20, 100, and 200-days maintain a bearish alignment and showcase a falling trend. However, the trendline breakout rally surpasses the 20 DMA and projects a likelihood of approaching the 50 DMA. The RSI indicator displays a significant increase in the bullishness of the underlying trend as the slope rises above the 14-day average and reaches the ...