Kusama Cryptocurrency Forecast

Kusama cryptocurrency price down 0% on Thursday
(Updated on May 16, 2024)

KSMUSD Signals & Forecast

There are mixed signals in the cryptocurrency today. 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 $27.99 and $29.90. A break-up above any of these levels will issue buy signals. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Wednesday, May 15, 2024, and so far it has fallen 0%. 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).

Support, Risk & Stop-loss for Kusama cryptocurrency

There is no support from accumulated volume below today's level and given the right condition the cryptocurrency may perform very badly in the next couple of days.

In general the cryptocurrency tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the cryptocurrency During the last day, the cryptocurrency moved $0 between high and low, or 0%. For the last week the cryptocurrency has had daily average volatility of 3.30%

Kusama is oversold on RSI14 (23). Some cryptocurrencies may drop long and hard while being oversold on RSI before turning, which increases the general risk.

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 Friday 17th

For the upcoming trading day on Friday, 17th we expect Kusama to open at $27.30, and during the day (based on 14 day Average True Range), to move between $25.14 and $29.46, which gives a possible trading interval of +/-$2.16 (+/-7.93%) up or down from last closing price. If Kusama takes out the full calculated possible swing range there will be an estimated 15.85% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $29.75, some $2.45 (8.97%) from the current price of $27.30, our system finds the risk reward not very attractive.

Is Kusama cryptocurrency A Buy?

Kusama holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this cryptocurrency.

Current score: -2.091 Sell Candidate Unchanged

Predicted Opening Price for Kusama of Friday, May 17, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.