Kusama is a multi-chain network built for its closely related crypto cousin Polkadot(DOT). It is a fast, secure, and scalable network for triggering radical innovation. It is built using Substrate with nearly the same codebase and industry-leading multichain infrastructure Polkadot. Past Performance The opening price of KSM on March 4, 2021, was $245.28. As of March 11, 2021, the closing price of KSM was $329.90. Thus, in the past week, the KSM price has surged by approximately 34%. In the last 24 hours, the KSM price has fluctuated between $320.36 – $336. https://ift.tt/3rIFhlV Day-Ahead and Tomorrow Currently, KSM is trading at $329.05. The price has slightly declined from the opening price of $330.03. However, it is too early to confirm a bearish market outlook. The MACD and signal lines are negative. Thus, the market momentum is bearish. A bearish crossover by the MACD line over the signal line implies a price pullback. Hence, the price may dip further. The RSI indicator is at 48%. It faced a bearish swing rejection at 60% and fell to the current level. Thus, selling pressures are high. Thus, we can expect the KSM price to drop further. The A/D line is rising, but the price is falling. There is a bullish divergence here. Thus, the price downtrend is not strong enough to sustain. Whale accumulations are high enough for a potential trend reversal. Thus, the price pullback may be temporary. KSM Price Analysis Presently, the price has fallen below the Fibonacci pivot point of $328.75. It may fall up to the first support level of $322.78 and resume its upward movement. Watch for a few hours. The price is currently testing the 61.8% FIB retracement level of $326.33. It has fallen below it and may soon fall below the 76.4% FIB retracement level of $324.05 too. By the end of the day, if the price falls below the 138.2% FIB retracement level of 314.38, then probably a price downtrend has set in. In that case, the price fall will continue tomorrow as well.
The post KSM May Fall Below $314 – Technical Analysis appeared first on Cryptoknowmics-Crypto News and Media Platform.
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