Kusama Cryptocurrency Forecast
High volatility in Kusama cryptocurrency price on Wednesday which ended trading at $27.70
(Updated on May 01, 2024)
The Kusama cryptocurrency price gained 0.108% on the last trading day (Wednesday, 1st May 2024), rising from $27.67 to $27.70. During the last trading day the cryptocurrency fluctuated 11.26% from a day low at $27.01 to a day high of $30.05. The price has fallen in 7 of the last 10 days and is down by -17.53% for this period. Volume fell on the last day by -15 million shares and in total, 3 million shares were bought and sold for approximately $70.07 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The cryptocurrency lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $27.51 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the cryptocurrency is expected to fall -23.12% during the next 3 months and, with a 90% probability hold a price between $21.15 and $36.47 at the end of this 3-month period.
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KSMUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 0.108%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The cryptocurrency should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Kusama cryptocurrency holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $29.21 and $36.64. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Kusama cryptocurrency
Kusama finds support from accumulated volume at $27.67 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $3.04 between high and low, or 11.26%. For the last week, the cryptocurrency has had daily average volatility of 6.69%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (KSMUSD) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Kusama to open at $28.25, and during the day (based on 14 day Average True Range), to move between $24.66 and $30.74, which gives a possible trading interval of +/-$3.04 (+/-10.96%) up or down from last closing price. If Kusama takes out the full calculated possible swing range there will be an estimated 21.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $27.67 (0.11%) than the resistance at $29.75 (7.40%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Kusama cryptocurrency A Buy?
Kusama holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this cryptocurrency. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.691 Sell Candidate Upgraded
Predicted Opening Price for Kusama of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $28.25 ( 2.00%) | $27.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KSMUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 31.29 | 12.97 % | |
| R2 | 30.13 | 8.78 % | ||
| R1 | 29.41 | 6.19 % | ||
| Current price: | 27.70 | |||
| Support | S1 | 27.09 | -2.19 % | |
| S2 | 26.37 | -4.78 % | ||
| S3 | 25.21 | -8.98 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 33.30 | 20.22 % | |
| R2 | 30.22 | 9.09 % | ||
| R1 | 29.75 | 7.40 % | ||
| Current price | 27.70 | |||
| Support | S1 | 27.67 | -0.108% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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