- The price of the KSM token has fallen almost 20% in the past 24 hours, which has brought the uptrend down.
- KSM Token is supported by the daily 50 EMA with a long tail projecting a lower price rejection.
- The KSM / BTC pair is trading at 0.1156 BTC with an intraday decline of 7.83%.
KSM Token managed to find support near the 50 EMA in the daily technical chart with a long tail rejection indicating a regeneration of buying pressure.
The coin’s price fell nearly 20% making continuous red candles in the 4-hour chart. The price has reached a new high lower in the uptrend, implying that investors may soon see a higher high.
The trade volume associated with the fall has started to decline and is below the 20 MA, projecting an underlying losing decline. The crypto asset may soon reach the $ 600 level again, completing the resumption of the fall. EMAs are rising, implying an underlying uptrend.
The KSM token is trading at $ 405 with an intraday decline of 12.05% in market cap. As mentioned, volumes are down, with a 26% drop in the last 24 hours. Right now, the token ranks 29th in cryptocurrency based on market capitalization.
Golden crossover in the parallel channel of the KSM token
The KSM token recently found support near the $ 345 level after facing resistance from the $ 500 level. However, the uptrend of the parallel channel remains intact.
The price of the coin is ready to begin the journey upward. Coin prices may soon recover from the fall and start setting new highs.
The KSM price showed trade volume growth in the recent bullish candle formed, suggesting that the bulls are back in action. Investors are looking for a great place to enter here.
The coin’s price may encounter resistance at $ 550 and $ 600 in the upward return trip. However, in the event of a fallout, the support levels are $ 375 and $ 275.
The 50 EMA (yellow) is above the 200 EMA (white) within the 4 hour time frame, implying an uptrend.
However, the coin price has gone over 50 to support the 200 EMA. Nonetheless, the coin’s price still looks bullish.
The RSI (Bullish) indicates increasing bullish momentum as the RSI line hits higher highs while trading at 49.
ADX (Stagnant) projects remain in trend momentum as price takes support near 200 EMA. We can expect an increase in trend dynamics as the uptrend restarts.
Conclusion – The KSM token goes higher with a lower low formation. The recent low offers a great entry opportunity for investors. The coin’s price may soon reach $ 600 and go even higher to reach new highs.
Support – $ 375 and $ 275
Resistance – $ 550 and $ 600