KSM coin price shows a recovery rally starting from the $150 mark against the 50-day EMA to reach $200. Will buyers surpass the psychological barrier?

Key technical points:
<ul>
 	<li style="font-weight: 400">The daily-RSI creeps into the nearly overbought zone</li>
 	<li style="font-weight: 400">The KSM coin price has ascended by 12% within the last three days</li>
 	<li style="font-weight: 400">Finally, the 24-hour trading volume of Kusama is $106.16 Million, marking a 16% fall</li>
</ul>
<h2>Past Performance of KSM</h2>
KSM coin price sustains above the psychological barrier at $150 and has gained 12% in the last three days. The recovery rally challenges the 50-day EMA and is ready to undermine the 25% fall within a week, starting from the $200 mark with a morning star pattern. Hence, the reversal rally proposes a jump to the $200 mark.

<img src="https://s3.tradingview.com/snapshots/w/W4wKpoVs.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/W4wKpoVs/" target="_blank" rel="nofollow noopener">Tradingview</a>
<h2>KSM Technical Analysis </h2>
KSM coin price shows a reversal rally ready to complete the daily chart's inverted head and shoulder pattern. Furthermore, the rally increases the chances of a bullish breakout with a potential of reaching the $240 mark.

A cluster of EMAs(20, 50, and 100) maintains a bearish formation in the daily chart, with the 50-day EMA falling under bullish pressure. Hence, the upcoming bullish rally projects a jump to $200. 

RSI Indicator: The RSI slope shows a bullish comeback rally starting from the nearly oversold zone and approaching the 50% line. The upcoming trend also comes with the falling 14-day average with an increasing possibility of reaching the overbought territory.

MACD Indicator: The MACD and signal lines lose the downtrend momentum as they reach the zero line, increasing the possibility of a bullish crossover. Hence, the indicator projects a high probability of bullish pattern completion.

In a nutshell, the <a href="https://www.cryptoknowmics.com/news/ksm-technical-analysis-bullish-pattern-aims-300/">KSM</a> technical analysis highlights the possibility of a bullish continuation to the $200 mark.
<h2>Upcoming Trend </h2>
The KSM/USD pair grows in underlying bullishness as the buyers regain trend control near the $150 mark. The bullish recovery increases the chances of an uptrend reaching the $200 mark. Moreover, if the buyers retain trends to control, the breakout rally will surpass the $240 mark.

Support Levels: $150 and $115

Resistance Levels: $200 and $240

KSM Technical Analysis: Bullish Continuation Preps $200 Breakout

KSM coin price shows a recovery rally starting from the $150 mark against the 50-day EMA to reach $200. Will buyers surpass the psychological barrier?

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

KSM Technical Analysis: Bullish Continuation Preps $200 Breakout

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