Kusama Price Prediction — Will KSM Hit $550 Soon?
- Bullish KSM price prediction is $144.1 to $520.5.
- KSM price will also reach $550 soon.
- KSM bearish market price prediction for 2022 is $99.9.
In Kusama’s (KSM) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and much other information about KSM to analyze the future movement of the cryptocurrency.
Kusama Current Market Status
According to CoinGecko, the price of KSM is $122.41 with a 24-hour trading volume of $45,421,793 at the time of writing. However, KSM has increased nearly 4% in the last 24 hours.
Moreover, KSM has a circulating supply of 8,980,098 KSM. Currently, KSM trades in cryptocurrency exchanges such as Binance, OKX, Bitget, Bybit, and Mandala Exchange.
What is Kusama (KSM)?
Kusama is a scalable dedicated blockchain network that uses a framework and almost the same code base as Polkadot. The network is an experimental development environment for teams that want to move forward and innovate quickly in Kusama, or are ready to deploy in Polkadot. KSM was founded in 2019 by Gavin Wood, founder of Polkadot, co-founder, and former CTO of Ethereum.
Kusama (KSM) Price Prediction 2022
Kusama holds the 87th position on CoinGecko right now. KSM price prediction 2022 is explained below with a daily time frame.
A descending channel is a pattern formed from two downward trend lines drawn above and below the price indicating the resistance and support levels. It is a bearish pattern defined by a trend line that supports a series of lower lows and a diagonal resistance level that connects low highs.
Currently, KSM is in the range of $122.6. If the pattern continues, the price of KSM might reach the resistance level of $282.8 and $513.6. If the trend reverses, then the price of KSM may fall to $99.9.
Kusama (KSM) Support and Resistance Level
The below chart shows the support and resistance level of KSM.
From the above daily time frame, it is clear the following are the resistance and support levels of KSM.
- Resistance Level 1 – $144.1
- Resistance Level 2 – $200.1
- Resistance Level 3 – $295.1
- Resistance Level 4 – $399
- Resistance Level 5 – $520.5
- Support Level – $114.1
The charts show that KSM has performed a bullish trend over the past month. If this trend continues, KSM might run along with the bulls overtaking its resistance level at $520.5.
Accordingly, if the investors turn against the crypto, the price of the KSM might plummet to almost $114.1, a bearish signal.
Kusama Price Prediction 2022 — RVOL, MA, and RSI
The Relative Volume (RVOL) of KSM is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of KSM lies below the cutoff line, indicating weaker participants in the current trend.
More so, the KSM’s Moving Average (MA) is shown in the chart above. Currently, KSM is in a bearish state. Notably, the KSM price lies below 50 MA (short-term), so it is completely in a downward trend. Therefore, there is a possibility of a reversal trend of KSM at any time.
Meanwhile, the relative strength index (RSI) of the KSM is at level 41.11. This means that KSM is in a nearly oversold state. However, this means a major price reversal of KSM may occur in the upcoming days. So, traders need to trade carefully.
Kusama Price Prediction 2022 — ADX, RVI
Let us now look at Kusama’s Average Directional Index (ADX). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of Kusama. Currently, KSM lies in the range of 18.9, so it indicates a weak trend.
From the above chart, the Relative Volatility Index (RVI) of KSM. RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of KSM lies above the 50 levels, indicating that the direction of volatility is high. In fact, KSM’s RSI is at 41.11 level thus confirming a potential sell signal.
Comparison of KSM with BTC, ETH
The below chart shows the price comparison between Bitcoin, Ethereum, and Kusama.
From the above chart, we can identify the trend of the ETH, BTC and KSM is moving at the same level as the trend. This indicates that when the price of BTC increases or decreases, the price of ETH and KSM also increases or decreases respectively.
Conclusion
With continuous improvements in the Kusama network, we can say that 2022 is a good year for KSM. For this reason, the bullish price prediction of Kusama in 2022 is $520.5. On the other hand, the bearish KSM price prediction for 2022 is $99.9.
Furthermore, with the advancements and upgrades on the KSM ecosystem, the performance of KSM would help to reach above its current all-time high (ATH) $399 very soon. But, it might also reach $550 if the investors believe that KSM is a good investment in 2022.
FAQ
Kusama is a blockchain platform designed to provide developers with a large-scale functional and scalable framework.
KSKSM has listed on many crypto exchanges which include Binance, OKX, Bitget, Bybit, and Mandala Exchange.
With the ongoing developments and upgrades within the KSM platform, it has a high possibility of reaching its ATH soon.
On May 18, 2021, KSM reached its new all-time high (ATH) of $621.71.
Kusama seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of KSM in the past few months, KSM is considered a good investment in 2022.
Kusama (KSM) is one of the active crypto that continues to maintain its Bullish state. Eventually, if this bullish trend continues then Kusama (KSM) will hit $550 soon.
Kusama (KSM) price is expected to reach $660 by 2023.
Kusama (KSM) price is expected to reach $730 by 2024.
Kusama (KSM) price is expected to reach $800 by 2025.
Kusama (KSM) price is expected to reach $850 by 2026.
Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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