KSM’s price struggles to hold above key support as price trades in a downtrend channel as price eyes a possible breakout. KSM continues to struggle as prices get rejected in a downtrend price channel after losing support to bears. The price of KSM trades below $45 for the first time after a while as the price continues its movement below 50 and 200 Exponential Moving Averages (EMA) on the daily timeframe. Kusama (KSM) hasn’t looked as strong as it should, as the price has lost its key support and has tested it several times against tether (USDT). With the price of Aave attempting to gain traction, it was expected that Kusama (KSM) would follow suit, but the crypto market has a way of turning things around. With so much uncertainty in the crypto market, this could be a significant factor, as the price of Bitcoin (BTC) and other crypto assets such as Ethereum (ETH) have seen a slight setback in their price movement, with the price of KSM experiencing a delayed movement. (Data from Binance) Related Reading: Bitcoin Dominance To Regain Control Over Crypto? | BTC.D Analysis October 20, 2022 Kusama (KSM) Price Analysis On The Weekly Chart Most projects have fared poorly in the bear market, with many experiencing price declines of more than 50%, discouraging most traders and investors from stockpiling these assets. With Bitcoin’s dominance (BTC.D) increasing, the price of most crypto assets may suffer. If BTC.D...
