KSM Technical Analysis: Increased Selling Pressure Ready To Crack $60

KSM price shows a bullish failure to surpass the resistance trendline resulting in a higher price rejection and warns of a $60 fallout. Key technical points: The KSM market value decreased by 4.96% today at press time. The lack of a bullish candle in the declining stage represents high selling pressure. The 24-hour trading volume of Kusama is $64.21 Million, indicating a drop of 35%. Past Performance of KSM As evident from the KSM/USD chart, in April, we saw the price decrease of KSM price by 67% due to the increased selling pressure near the $200 mark. The falling prices lose the bearish momentum resulting in an upwards trend at the support level of $60. The bullish reversal retested the $80 mark but failed to surpass it due to the high selling pressure near the resistance trendline. Source- Tradingview KSM Technical Analysis The sideways movement that runs from $60 to the $80 level exhibits the bullish breakout failure and increase in the underlying bearish sentiments. Additionally, the higher price rejection in the prior KSM daily candle near the trendline supports the high-momentum ongoing downtrend and warns against the $60 fallout. The downward trend of the 50, 100, and 200-day EMAs remains in the bearish alignment, which shows an impressive bearish trend in motion. But, the trendline breakout could lead to an uptrend that retests the 50-day EMA, resulting in a new breakout entry. The RSI slope displays a diagonal trend ...