Market Overview: Kusama/Tether (KSMUSDT) on 2026-01-18

Summary
• KSMUSDT broke key support near $8.00, falling to $7.65 amid bearish momentum.
• Volume expanded in the early morning, confirming the bearish breakdown.
• RSI and MACD show oversold conditions, hinting at potential short-term bounce.
• Bollinger Bands have widened, indicating increased volatility in the 24-hour period.

Kusama/Tether (KSMUSDT) opened at $7.95 on 2026-01-17 at 12:00 ET, reached a high of $8.01, a low of $7.63, and closed at $7.68 as of 12:00 ET. Total volume amounted to 50,148.68 KSM, with notional turnover of $391,456.32 over the 24-hour period.

Structure & Formations

Price action shows a bearish breakdown below the $8.00 psychological level, with a notable bearish engulfing pattern forming at the 2026-01-17 20:15 ET session. Key support levels now include $7.70 and $7.63, while resistance remains at $7.85 and $8.00. A bullish engulfing pattern appears near the 7.65–7.68 range, suggesting a potential short-term bounce.

Moving Averages

The 20- and 50-period moving averages on the 5-minute chart show a clear bearish crossover, reinforcing the downtrend. On the daily chart, the 50-period MA is below the 200-period MA, indicating a longer-term bearish bias.

MACD & RSI

The MACD line has turned negative and is trending downward, aligning with the bearish price action. The RSI has entered oversold territory below 30, hinting at a potential near-term correction or pullback.

Bollinger Bands

Bollinger Bands have widened significantly over the 24-hour period, reflecting heightened volatility. Price has traded mostly below the 20-period lower band, especially in the overnight session, indicating bearish pressure.

Volume & Turnover

Volume increased sharply between 00:15 and 01:45 ET, confirming the breakdown below $8.00. However, turnover has not risen proportionally, suggesting that the move could be driven by large, directional trades rather than broad market participation.

Fibonacci Retracements

On the 5-minute chart, the price appears to be testing the 61.8% Fibonacci retracement level of the recent $8.01–$7.63 move at $7.75. On the daily chart, the 50% retracement of the prior $8.00–$7.60 move is at $7.80, which could serve as a near-term resistance level.

Price could see a short-term bounce from current oversold conditions but remains under pressure near $7.65. A close above $7.80 would signal a potential reversal in sentiment. Investors should remain cautious and watch for a breakdown below $7.60, which could trigger a deeper correction.