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Tag: Kusama

Kusama (KSM) – Where will it move Now?

According to coinmarketcap, the total supply of KSM is around 9.6M KSM and around 8.47M of the KSM are in circulation at the moment. It holds the 60th rank according to market cap and has a market dominance of 0.10%.

At the time of writing, KSM is being traded at the price of $273.01 with an increase of almost 0.57% in the last 24 hours. The maximum and minimum today are $280.56 and $267.95 respectively. The daily trading volume has increased by almost 22.38%. KSM had created its ATH in May 2021 and reached a price of almost $625. The price during the crash dropped down to a price of almost $142 in the month of July 2021. Overall the price is moving to higher highs. In November, we saw an increase of almost 6%. This month, we have seen a decrease of almost 30.31%.

Technical Analysis

We can see that Kusama has been bullish at one point. The price was creating higher highs and higher lows. Soon after, the price of KSM failed to create another high and confirmed the reversal in the structure. This lead to a drop in the price.

A point of interest is the daily order block that has been created above the current price. This happened when the drop in the price started to happen and we saw massive red candles getting printed.

After the drop, the price of KSM went into a descending correction. Now we can expect is that the price can move out of this descending correction. From there, we can look for a retest. If the retest holds, we can expect a move towards the daily order block. When the price reaches that point, we can expect a reaction from the price. If it holds, the price can have a shot towards the last higher high.

Price Prediction – Kusama (KSM)

KSM is a good investment and is going to provide great returns. Wallet investor considers KSM to be a really good investment as well. According to them, in a year the price is expected to reach a value of $576.134. In five years the price is expected to reach a value of $1771.100. Traders on the other hand are very bullish on the price and think that it wouldn’t be long before KSM moves up to create a new ATH.

December 24, 2021
Kusama (KSM) coin – Parachain auction to push KSM towards $600?

Kusama (KSM) has been trending downwards after showing some bullish momentum in early July. At the time of writing, Kusama stands at a price level of $181.93. The price has fallen by 8% in the past twenty-four hours while the trading volume has fallen by 4%. Kusama has been one of the worst performing cryptocurrencies in the weekly timeframe. The cryptocurrency has fallen by 24% in the past seven days.

The market outlook for cryptocurrency is bearish. Out of the total twenty-six technical indicators, fifteen are giving out a signal of sell with nine indications standing at a neutral position and. Only two indicators suggesting a buy.

Kusama (KSM) had been operating on a coherent wave count. The cryptocurrency has completed the first two waves of the series which were marked by bearish momentum. The third wave of the series is expected to take the cryptocurrency to new heights. The fourth wave lies at the target price of $382. This may be a more bullish scenario but with the parachain auction on the network ending soon, anything can be expected from Kusama’s network.

The analysis might not be too off as the future prediction for Kusama are very bullish. According to the estimates of Wallet Investor, Kusama is expected to have a price level of $651 in a year’s time while the five-year projection places the cryptocurrency at a staggering price of $2392.

Kusama (KSM) parachain auction

Kusama is parallel to a test network for Polkadot. The blockchain is meant for experimental purposes to boost innovation and increase interoperability of the blockchain. The widely-anticipated parahcain launch of the Kusama network started earlier this month. The parachain auction on Kusama started on July 8^th. Projects bid by buying KSM to get their names on the few available parachain slot. The first three auctions resulted in Karura, Moonriver, and Shiden Network winning slots. The remaining two auctions will be marked by high competitiveness as the projects’ bids are quite close to each other unlike the first three where the winners were distinct.

July 14, 2021
Kusama (KSM) coin towards $500 as parachain auction nears?

Kusama (KSM) is on an uptrend since the establishment of its market crash low. The cryptocurrency is soaring high partly due to the parachain auction to be held soon on the network. At the time of writing, Kusama coin stands at a price level of $422. The price has increased by 5% in the past twenty-four hours while the daily trading volume has declined by 5%.

Kusama (KSM) Technical Analysis

The market sentiment for Kusama (KSM) is bullish. Out of the twenty-six technical indicators, fifteen are giving out a signal of buy with nine standing at a neutral position and only two indications of sell. Both the oscillators and moving averages are bullish.

Kusama (KSM) technical analysis

Kusama coin is highly bullish even though the larger crypto market remains bearish or neutral. In the shorter timeframes, Kusama is moving downwards but the cryptocurrency can find strong support at $380. The analysis suggests that the bulls may soon overtake the cryptocurrency. A major chunk of the technical as well as the fundamentals suggest Kusama to reach higher and break the resistance level at $500. If the price target of $500 is broken, the next potential target at $645 will be activated.

Kusama (KSM) parachain auction

Kusama has been soaring high as the cryptocurrency nears its parachain auction. Kusama and Polkadot, together, are taking the integrability of the blockchain space to the next level. Both the blockchains will connect 100 parachains into Polkadot’s central Relay Chain. However, with a limited number of parachain being facilitated, parachains will be chosen via an auction. With bids touching the sky, the parachain launch will mean sky-high process for KSM and DOT. Karura Network has raised $100 million in a crowd fund to bid on the auction.

June 14, 2021
Kusama (KSM) to break $1,000 soon?

Kusama (KSM) is the highest performing cryptocurrency in the top 100 in the weekly timeframe. The cryptocurrency has increased by 50% in the past week. KSM crypto has been on a straight upward trajectory since 28^th May. At the time of writing, Kusama stands at a price level of $467. The price has increased by 22% in the past twenty-four hours while the daily trading volume has increased by 66%. The sharp increase in the cryptocurrency can be accorded to the Polkadot parachain launch on Kusama and it can be expected to continue increasing as the parachains launch.

Kusama (KSM) Technical Analysis

The market sentiment for Kusama is bullish. Out of the twenty-six technical indicators, fifteen are giving out a signal of buy with ten standing on a neutral position and only one indicator giving out a sell signal. Overall, the oscillators are neutral while the moving averages suggest a strong uptrend.

Kusama (KSM) Technical Analysis

A trader has identified Kusama (KSM) crypto in an ascending channel formation. KSM crypto touched the lower boundary of the channel amidst the market crash but has now entered a safe zone. Kusama is nearing a break out from the zone which will validate the uptrend. Kusama will be facing strong resistance at $560 – a level it has faced multiple rejections from. If Kusama is rejected once again at the resistance level, it may drop to as low as $400. However, in the long-term window, Kusama is expected to rise once again. The trader has set an optimistic price target of $1,683 for the cryptocurrency.

Kusama (KSM) price prediction

Wallet Investor predicts the cryptocurrency at a price level of $1,140 in one year’s time while the five-year forecast places it at $4,465. Digital Coin Price’s projections state Kusama will end the year with a price of $716 but continue increasing to $2,104 in five years’ time.

Given the technical analysis and price predictions for Kusama, it can be expected that the future has good things in store for the cryptocurrency. The parachain launch will definitely boost the value of Kusama by many folds.

June 3, 2021
Kusama (KSM) coin renewed bullish momentum

Kusama (KSM) peaked at $594 in the bull run. As the crypto market crashes, Kusama coin fell to a low of $262. However, as the market cooled down KSM crypto began showing signs of bullish movement again. At the time of writing, Kusama stands at a price level of $339. The price of the cryptocurrency has been going upwards in the past twenty-four hours while the daily trading volume has declined by 20%.

Kusama (KSM) Technical Analysis

Despite the slightly bullish moment, the market sentiment for Kusama is largely bearish. Out of the twenty-six technical indicators thirteen are giving out a sell signal, nine are standing at a neutral position while only four are indicating towards buy. The oscillators are majorly neutral while the moving averages are bearish.

Kusama (KSM) Technical Analysis

Kusama (KSM) is identified to be still operating in an upward channel formation in the longer timeframes. The cryptocurrency broke out of the channel to the upside during the peak of the bull run but has stayed inside the channel since August 2020. The brutal market correction also did not result in a downside break out – hinting the lower boundary to be acting as a strong support.

What is Kusama (KSM)?

Kusama is cited as Polkadot’s “Wild Cousin”. The Kusama blockchain runs in parallel with Polkadot’s like a parachain would but it is not a parachain. It is Polkadot’s canary network and serves as a testing ground for projects that are to be deployed on Polkadot.

Kusama and Polkadot are launching their parachain auction which is also the last phase of the Polkadot blockchain. Parachains are layer-1 solutions that will run in parallel will Polkadot and Kusama. The parachain auction is a hallmark step in the interoperability of blockchains and may push both the networks ahead.

May 26, 2021