• KSM/USD is currently priced at $48.61 and has fallen 1.34% over the past day

• Technical indicators suggest a short-term bearish outlook

• Trading volumes decreased by 1.27% over the past day

Short-term view: Bears feast on gaps as KSM price suffers

The KSM price today is $48.61 with a 24-hour trading volume of $22,666,201. KSM Coin is down 1.34% in the last 24 hours. Trading volumes have declined slightly over the past day as the altcoin struggles to attract buyers at current price levels, while the volume-to-market cap ratio stands at 0.05506 for the altcoin.

On May 18, 2021, the price of KSM reached the high of $623.75 before declining. The altcoin failed to break above this peak, having gone through a series of corrections and slowdowns. KSM Coin is currently in the midst of a downtrend as it is trading below the 20.50 SMA on the four-hour chart. Weakness persists in the market and a continuation of the downtrend could see the KSM price drop below the support level located at $45. A break above the all-important psychological resistance located at $50 is needed to reverse the short-term downtrend, but the slowing momentum suggests that price weakness may persist over the next two weeks.

Long term view for KSM Coin

KSM Price has been stuck in a rut for the past few weeks. However, it eventually gathered enough bearish momentum to show definite price action on the daily chart. The RSI for the altcoin is placed at 37.66, suggesting that the selling pressure is still overwhelming in the market. Weakening sentiment is represented by the decreasing size of the green histograms on the daily chart, which presents itself as a huge incentive for the bears for their efforts. Additionally, the MACD and signal lines also continue to trade in negative territory.

Conclusion

KSM Coin is currently in full downtrend after stagnating for two or three weeks. Buyers will likely stay away until oversold conditions materialize as KSM price continues to decline.

Support: $45

Resistance: $50

Disclaimer

The views and opinions expressed by the author, or anyone named in this article, are for informational purposes only, and they do not constitute financial, investment or other advice. Investing in or trading crypto assets involves the risk of financial loss.