Kusama Price Prediction – Will KSM Price Hit $700 Soon?

This Kusama (KSM) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our KSM price analysis and prediction.

There are various cryptocurrencies that rose to a new all-time during this 2021 bull run. In contrast, some crypto assets also faced a price drop. As a result, many digital currency traders are worried about whether it is time to hold or sell their digital assets. This is also the same situation that crypto traders could experience in KSM.

Nevertheless, the crypto market is consolidating lately, and many cryptocurrencies are losing their previous profits. Will KSM experience the same price volatility? We’ll find out shortly in this KSM price analysis 2021 article. But first, let’s have a look at what KSM is.

What is Kusama (KSM)?

Kusama is self-described as Polkadot’s wild cousin. Moreover, Kusama is an experimental blockchain firm that is developed to provide a massively interoperable and scalable framework for developers.

More so, the Kusama is built on Substrate, a blockchain building kit created by Parity Technologies. Even more, the Kusama has almost the same codebase as Polkadot which is one of the most successful interoperable blockchains.

By deploying on Kusama, fast-paced projects benefit from access to a highly scalable, interoperable sharded network. Added to this, Kusama describes itself as a canary network.

Even more, the platform is developed to provide a testbed for developers seeking to create and deploy their own blockchain and can be utilized as a preparatory network before launching on Polkadot via many projects opt to stick with Kusama for their product.

Now that we have an idea about KSM, do you think KSM will be profitable crypto in 2021? Join me and let us see the charts in this KSM price analysis and KSM price prediction.

Kusama (KSM) Current Market Status

As of the time of writing this Kusama price analysis, KSM trades at $456 with a 24-hour trading volume of $161,300,986. The price of KSM has decreased by 4.49% in the last 24 hours.

Furthermore, KSM has a current circulating supply of 8,470,098.06 KSM. Currently, the top cryptocurrency exchanges for KSM are Binance, Huobi Global, OKEx, FTX, and CoinTiger.

Now, let’s proceed to the next part of this KSM technical analysis for 2021.

Kusama (KSM) Price Analysis 2021

Currently, KSM holds 50th place on CoinGecko. But will the latest upgrades, development, and changes in the KSM blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this KSM price prediction article.

The above chart shows the Ascending Channel pattern of KSM. This is a bullish pattern that is formed by joining higher highs and higher lows. Based on the graph above, BitTorrent was able to defend its position well against the bears in the early days of the month.

In other words, KSM is gearing itself for a possible bullish rally in the days to come. If this happens, the crypto might go beyond its resistance level and reach the bullish price. Of course, this is most likely to happen if the bullish market continues to reside with Kusama.

Conversely, if the bulls turn against the crypto, the price of KSM might fall. In short, KSM might break out from its uptrend position and nosedive to a bearish price.

The Relative Strength Index (RSI) is above 61.51, which means that KSM is in neither an overbought nor oversold state. Hence, traders may trade safely without any fear. Keeping all this in mind, traders can be aware and move away from unexpected losses due to the crypto market’s wild swings.

Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of KSM.

Since the start of 2021, KSM’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations, consolidation, and corrections right away. Taking this into consideration, KSM has a competitive market this 2021.

Kusama (KSM) Price Prediction 2021

The chart below shows that Kusama has performed great over the past few days. Moreover, the KSM price is over 17% in the last 7 days. If this trend continues, KSM might run along with the bulls, overtaking its $627 resistance level and climb higher.

Conversely, if the investors turn against the crypto, the bears might take over and dethrone KSM from its uptrend position. In simpler terms, the price of KSM might plummet to almost $359, a bearish signal.

Meanwhile, our long-term KSM price prediction 2021 is bullish. It has a high possibility of surpassing its current all-time-high (ATH) at about $623.75 this year. However, that will only happen if it breaks many psychological resistances that occurred previously.

Kusama (KSM) Price Prediction 2022

If this bullish trend continues, Kusama will reach $725 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $850. Then this rise will slow down, but no major falls are expected. With upcoming, partnerships, and developments reaching $623 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

Kusama (KSM) Price Prediction 2023

If KSM holds the support level around 200-MA, the long-term moving average of 200 days firmly, buyers will then have ample time and stability to forge the next attack mission on the vital level at $1000, making it not plummet but play consistently.

Kusama (KSM) Price Prediction 2024

As per the latest upgrades, developments, KSM price prediction, and new project forecasts of the platform, KSM investors could expect many partnerships and integrations around 2024. Moreover, this might boost the price of KSM in the crypto market, and it will be the best investment as the price can spike and reach around $1250.

Kusama (KSM) Price Prediction 2025

In the next four years, KSM price could race up to $2000. However, reaching this level could not be so difficult for KSM as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that KSM has a high possibility of reaching new ATH soon in the next five years as per the prediction.

Conclusion

Kusama has a bright future ahead of it in 2021. With the ongoing developments happening within the KSM ecosystem, as well as in the overall crypto market, we may see KSM reach new heights.

Bullish KSM price prediction 2021 is $627. As said above, it may even reach $700 if investors have decided that KSM is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

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Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.