Kusama (KSM) Price Enters Correction Phase After Brief Rally Surpassing $150

Kusama (KSM) Price Enters Correction Phase After Brief Rally Surpassing $150

  • Kusama has been up 6.16% in the last 24 hours.
  • The price may not go below certain levels, even if purchasers run out of options.

The canary network for the Polkadot blockchain, Kusama, has expanded significantly. A previous bull run in 2021 saw the asset rise more than 2,000 percent to levels over $600 from only $30 levels. Although the market has been in a downward trend, the KSM price has rebounded beautifully and regained above $150 again. Bears cut-price below $120; however asset is attempting to re-establish robust uptrend and has made a minor regain and is now trading around $146, which can be the correction phase.

KSM/USDT: Source: TradingView

Buyers Waiting for the Right Opportunity

Even if the latest breakthrough has yet to be substantiated and the price of KSM remains contained inside a sizeable bearish channel, the odds of an upward trend remain high. Furthermore, the price has been lingering around the lower support since the beginning of the month, refusing to break through the $116 support levels. As a result, the price may not go below certain levels, even if purchasers run out of options. The price of KSM might also continue to rise, prompting a further flip.

The DOT price has been showing significant bullish momentum, but this looks to have been rejected or let go of. One of the bearish patterns, the triangle, had declined a few days before. However, the asset ignites a reversal back towards the triangle after recording a powerful bullish candle. It’s no secret that buyers are doing all they can to prevent the deal from falling apart, but sellers have the upper hand. According to CoinMarketCap, the Kusama price today is $146.41 USD with a 24-hour trading volume of $117,608,748 USD. Kusama has been up 6.16% in the last 24 hours.

The post has appeared first on thenewscrypto.com

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