Kusama Price Prediction — Will KSM Hit $600 Soon?
- Bullish KSM price prediction is $382 to $518.6.
- KSM price will also reach $600 soon.
- KSM bearish market price prediction for 2021 is $142.37.
In Kusama (KSM) price prediction 2021, we use statistics, price patterns, RSI, RVOL, and much other information about KSM to analyze the future movement of the cryptocurrency.
KSM Current Market Status
According to coingecko, the price of KSM is $390.35 with a 24-hour trading volume of $132,620,160 at the time of writing. However, KSM has increased to 1.3% 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, Mandala Exchange, OKEx, FTX, and CoinTiger.
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 2021
Kusama holds the 59th position on CoinGecko right now. KSM price prediction 2021 explained below with a daily time frame.
The above chart shows the “Falling Wedge pattern”. Generally, the Falling wedge is a bullish pattern that starts from the top high and contracts as the price falls. However, this price movement forms a downward cone. When the highs and lows of a trend converge. This shows that due to the huge volume of trade during this time, the price of KSM will continue to rise and in the near future it will surpass its all-time high price ever.
Currently, KSM is at $386.09. If the pattern continues, the price of KSM might reach the resistance level to $382 and $515. If the trend reverses, then the price of KSM may fall to $301.
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 | $417.05 |
| Resistance Level 2 | $518.6 |
| Resistance Level 3 | $626.55 |
| Support Level 1 | $260.45 |
| Support Level 2 | $142.37 |
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 $626.55.
Accordingly, if the investors turn against the crypto, the price of the KSM might plummet to almost $142.37, a bearish signal.
Kusama Price Prediction 2021 — 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, 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 52.48. This means that KSM is in a neither overbought nor oversold state. However, this means a major price reversal of KSM may occur in the upcoming days.
Kusama Price Prediction 2021 — 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. ADX is a component of the Directional Movement System. This system attempts to measure the strength of price movement in the upward and downward directions using DMI indicators with ADX.
The above chart represents the ADX of Kusama. Currently, KSM lies in the range at 37.07, so it indicates a strong 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 is above the 50 level, indicating that the direction of volatility is high. In fact, KSM’s RSI is at the 52.48 level thus confirming a potential either buy or 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 is moving at the upward trend. But, the recent trend of BTC and KSM moves in a downward direction.
Conclusion
With continuous improvements in the Kusama network, we can say that 2021 is a good year for KSM. For this reason, the bullish price prediction of Kusama in 2021 is $518.6. On the other hand, the bearish KSM price prediction for 2021 is $142.37.
Furthermore, with the advancements and upgrades on the KSM ecosystem, the performance of KSM would rise reaching $515 very soon. But, it might also reach $600 if the investors believe that KSM is a good investment in 2021.
FAQ
Kusama is a blockchain platform designed to provide developers with a large-scale functional and scalable framework.
KSM has listed on many crypto exchanges which include Binance, Mandala Exchange, OKEx, FTX, and CoinTiger.
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 2021.
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 $600 soon.
Kusama (KSM) price is expected to reach $570 by 2022.
Kusama (KSM) price is expected to reach $780 by 2023.
Kusama (KSM) price is expected to reach $950 by 2024.
Kusama (KSM) price is expected to reach $1250 by 2025.
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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