Kusama is a robust open infrastructure for creating decentralized apps using Substrate and the same codebase as its cousin — the Polkadot network. High scalability, multi-chain interoperability, high speed, and innovation-friendly are some standout features of the Kusama ecosystem. KSM is the prime governance token of this network. Let us look at the KSM technical analysis. Past Performance On Jul 20, 2021, KSM opened at $163.69. On Jul 26, 2021, KSM closed at $185.27. Thus, in the past week, the KSM price has increased by roughly 13%. In the last 24 hours, KSM has traded between $176.41-$206.48. https://ift.tt/2VbjsQE Day-Ahead and Tomorrow Currently, KSM is trading at $179.41. The price has decreased from the day’s opening price of $185.27. Thus, the market seems bearish. The MACD and signal lines are turning negative. Moreover, a bearish crossover by the MACD line over the signal line has occurred. Thus, the overall market momentum is turning bearish. Hence, we can expect the price to fall further. Currently, the RSI indicator is at 39%. It faced rejection at 34% and rose to the current level. Hence, buying pressures are mounting. High buying activity will exert upward pressure on the KSM price. However, the OBV indicator is upward sloping. Thus, buying volumes are higher than selling volumes. Hence, the price may rise further. In short, the OBV and RSI indicators have given positive signals, while the MACD indicator has given negative signals. Thus, we have to wait and watch if the bulls overtake the market or the bears regain strength. KSM Technical Analysis Currently, the price is above the first Fibonacci pivot support level of $177.90. The price may soon surpass the Fibonacci pivot point of $189.39. After that, we have to wait and watch if the price rises further or falls again. The price has tested and fallen below the 23.6% FIB retracement level of $183.51. It may further fall below the 23.6% FIB extension level of $169.31 as well. If by day close, the price retests and surpasses these levels, the price uptrend is strong enough to sustain till tomorrow.
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