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  • Home Analytics of crypto Rising Bullishness Leading to Range Breakout

    Rising Bullishness Leading to Range Breakout

    by admin

    Crypto News

    KSM coin price experiences an extreme surge in underlying bullishness. The bullish range breakout seems imminent leading to a potential bull run.

    Kusama is unique among blockchain platforms as it is primarily designed for developers looking to launch bold and ambitious projects with a fast-evolving development pace. The same team created it as Polkadot, which is now known as Parity Technologies.

    It is built on a multichain, heterogeneously-sharded design that uses a nominated proof-of-stake consensus system.

    Let us now look at the detailed analysis of Kusama cryptocurrency.

    Past Performance of KSM

    KSM coin price has been moving in a sideways trend since September 20, 2021. The formation of consolidation generally leads to an accumulation of trend momentum. Hence, the breakout of this range will lead to a boom in trend. Moreover, the recent higher low formation indicates a bullish breakout.

    Rising Bullishness Leading to Range Breakout

    KSM Technical Analysis

    KSM cryptocurrency is currently at $345 as of writing. Additionally, the price has fallen by 3.36% in the last 24 hours. Thus, retracing the price back to the support curve. Moreover, the fall was not supported by volume as it fell by 40%.

    The 4-hour chart shows the coin price is trading close to the resistance level of the consolidation. Furthermore, the recent higher low might soon result in a successful bullish reversal.

    As per price action, the KSM Coin price might find support at $415 or $36. However, upon bullish reversal, resistance close to $325 and $300 might push it down.

    MACD and signal lines on the daily chart rise higher, but they are still below the zero line. However, the lines generate a bullish crossover with the recent rise in the bullish histograms. Hence, the indicator gives a strong buy signal.

    The slope for the RSI indicator rises with higher highs above the daily chart’s central line. Therefore, RSI indicates a strong bullish signal.

    Upcoming Trend

    As per the Kusama technical analysis, the situation is incredibly bullish for KSM crypto. Furthermore, the price action indicates a quick bullish reversal leading to the bullish range breakout. Therefore, the breakout of the resistance level can be an excellent bullish entry spot for traders.

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