Kusama price analysis: Bears stop the bullish trend to keep Kusama below $450

The Kusama price analysis shows that selling pressure has built from the bearish side. The market followed the bullish trend for the entire last week as the coin gained significant value during this time, and a correction was due for continuing further upside later on.

The Tides have turned today as the bears have halted further up move today, and the crypto pair has started a correction. However, support is present at $418 and may stop the price slippage below this point.

KSM/USD 1-day price chart: Kusama rejected at $450

The 1-day price chart for Kusama price analysis shows bears are defining the price curve today. The KSM/USD is correcting after the bullish recovery of yesterday. KSM/USD pair is trading hands at $436 at the time of writing. The past week overall proved successful for the crypto pair as it gained 17.25 percent value over this time, as the price elevated to the five-month high on 3rd November. But today, the trend has been different as the bears are defining the price function by dragging the price down. The moving average (MA) is standing at $416 below the price level.

KSM/USD 1-day price chart. Source: TradingView

The volatility for the given price chart of KSM/USD is on the increase as the Bollinger bands are expanding on to more and more area, with the Upper band at $459 and the lower band at $331, making an average at $395, representing support for the correcting price. The relative strength index (RSI) is also confirming the downtrend for today as it is on a steep downwards curve at index 62, indicating high selling activity in the market.

Kusama price analysis: Recent developments and further technical indications

The 4-hour price chart shows that bearish momentum has been gaining strength over the past few hours despite the price breakout being in the upwards direction today. No sign of bullish efforts has emerged as the last candlestick is red in color, indicating continuous bearish activity.

KSM/USD 4-hours price chart. Source: TradingView

The Bollinger Bands on the 4-hour chart have been keeping their average at $442, which now indicates resistance for the KSM/USD pair, whilst the upper band is at $457, and the lower band is at the $427 mark, which represents support for the crypto pair. The RSI has fallen near the centerline of the neutral zone at index 51 and continues to move down with time.

As the overall environment is bullish for Kusama and the coin has been continuously marking higher highs since the altcoin season started, the technical indicators for Kusama price analysis are yet bullish, as around 15 technical indicators suggest buying of KSM assets, and only three indicators suggest selling off of KSM assets, however eighth technical indicators stand neutral and do not favor either buying or selling, out of a total of 26 technical indicators.

Kusama price analysis: Conclusion

The Kusama price analysis shows that the coin is correcting today and may continue to follow a downtrend for today as bears rule the market. The support present at $418 is strong enough to keep the crypto afloat above, we can assume safely for the Kusama to soon get some bullish help, and the price may not go below $430.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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