KSM Technical Analysis: EMAs Challenge Reversal Rally From $150 

Key technical points:

Past Performance of KSM

KSM coin price shows a short-term downtrend influenced by the 100-day EMA, failing to crack the $150 mark. Furthermore, the price action shows a lower high formation under the influence of the bearish aligned EMAs resulting in an increased underlying bearishness. 

Source-Tradingview

KSM Technical Analysis 

The recent reversal in KSM coin price from the psychological level creates the double bottom pattern but fails to surpass the 50-day EMA. The bullish pattern shows a neckline at the $180 mark. 

The crucial daily EMAs maintain a falling trend in a bearish alignment, with the 50-day EMA, is providing resistance to the reversal rally. Hence, a breakout of the EMA will result in a price jump to the 200-day EMA.  

MACD Indicator: The fast and slow lines undermine a bullish crossover attempt to continue the downtrend further and approach the zero line. Moreover, the bearish histograms continue the downtrend reflecting a surge in underlying bearishness.

RSI Indicator:  The RSI slope shows a sideways trend while breaching the halfway line multiple times to jump within bullish and bearish territories. However, the bullish divergence in the double bottom offers the increased possibility of an uptrend.

In a nutshell, the KSM technical analysis forecasts a bullish breakout of the double bottom pattern. 

Upcoming Trend 

KSM coin price shows a bullish pattern formation thanks to the psychological level at the $150 mark. The breakout of the bullish pattern’s neckline at the $180 mark will highlight a bullish entry spot with a target of $200. However, short-term traders can find entry opportunities at the current price with a neckline target. 

Resistance Levels: $180 and $200

Support Levels: $150 and $135