- The Kusama (KSM) closed the previous day’s trade at INR 3611.2 with a market capitalization of INR 33.03 billion and a circulating supply of 8,470,098.06 KSM
- The asset is at the lowest levels and hence waiting for the bulls to uplift the price towards the safe zone
- Yet the bears still appear to dominate the rally that may drag the price another 15% to 20% by the end of June further a decent recovery may be expected
Price Comparison Table
|Crypto-Asset||Start-Month Price (May)||Mid-Month Price (May)||End-Month Price (May)||% Change|
|Kusama(KSM)||INR 10143.5||INR 6261.1||INR 6189.2||-63.89%|
* As of 14-June-2022
Check latest prices, charts, and data of KSM/USDT
Kusama (KSM) Technical Analysis at a Glance
The Kusama price after being rejected from INR 15000 a couple of times since the beginning of 2022, has dived deep into a bearish well. Further, the asset attempted very hard to hold INR 5000 levels for nearly a month. However, the recent market crash dragged the price to 14-month low levels at INR 3600.
The technicals and the price actions are pointing towards an extreme bearish trend to prevail for a longer time ahead. If the bearish trend continues, the price could drop hard below the last point of defense at around INR 2500 which may be pretty brutal for the asset ahead.
|Short-Term (1hr)||The KSM price had dropped hard and hence a notable flip was recorded of-let, however, the bulls may get exhausted soon may drag the price lower|
|Mid-Term (4hr)||The previous downtrend appears to have reached today’s bottoms and hence a significant short-term bounce may be expected|
|Long-Term (D)||The month-long consolidation landed the price to the lower support where a flip may not induce a significant momentum and hence could continue consolidation|
Technical Indicators & Pivot Levels
|Technical Indicators||Value(1D / 1M)||Action (1D / 1M)|
|Relative Strength Index(RSI)||27.76 / 48.66||Sell / Neutral|
|MACD(12,26)||-11.29 / 3.58||Sell / Buy|
|Average Directional Index(ADX)||33.84 / 54.26||Sell / Sell|
|Bull-Bear Power||-26.13 / -210.65||Sell / Sell|
|Moving Average(MA)-50||INR 6912.50||INR 18321.75||INR 7218.37|
|Moving Average(MA)-200||INR 13855.43||INR 7731.79||INR 1804.01|
|Resistance||INR 6459||INR 13,770||INR 27,106|
|Support||INR 2549||INR 2089||INR 1145|
|Average True Range(ATR)||6.22||30.78||163.91|
The Kusama(KSM) price is extremely bearish in all the time horizons, as the bears have capitulated the asset to a larger extent. However, in the hourly time frame, one can expect a short-term bounce, but in the larger perspective, bears appear to be pretty dominant. As the asset is less volatile, no specific price actions may be expected. After undergoing huge selling pressure, the buyers could jump in a couple of months as MACD is somewhat bearish in the monthly time frame.
KSM Price and Technical Analysis for May-July
- Kusama price is currently trading at a 14-month low position, draining all the profits gained during the 2021 bull run
- Considering the current market conditions, the KSM price is expected to continue with its bearish trend and plummet to the lower possible levels
- The price is expected to slice through the lower FIB levels at 0.61 at INR 3400 to encounter a bearish close to June’s trade by attaining the levels at INR 2700
- Further, a significant rebound could uplift the price above the same FIB levels in an attempt to achieve the 0.38 FIB levels at INR 4500, but woefully, may face rejection just below these levels
- The KSM price may dive deeper down, slicing the lower support at INR 2500 to hit INR 2300 by the end of July
- However, the prices may enter a notable recovery phase and display a consolidated trend throughout the month before igniting a significant uptrend later
How to Invest in Kusama(KSM)
Investing in Kusama or any of your desired crypto is pretty simple and safe on CoinDCX. Along with the best deals in the market, you unlock the world of lucrative in-App benefits and attractive benefits that coils help you make wise decisions at the right time.
To begin with, just download the CoinDCX App on your Smartphone and enter the required details. Once your profile is verified, just fund your wallet and buy a Kusama (KSM) token.
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Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. In case you have any queries, write to [email protected].
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