- Bullish KSM price prediction ranges from $535 to $961.
- KSM price might also reach $1K soon.
- KSM bearish market price prediction for 2021 is $165.
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 Current Market Status
As of the time of writing this Kusama price analysis, KSM trades at $361.93 with a 24-hour trading volume of $241,652,854. The price of KSM has decreased by 0.49% in the last 24 hours.
Now, let’s proceed to the next part of this KSM technical analysis for 2021.
Kusama Price Analysis
Currently, KSM holds the 33rd 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.
In the chart above, which is set in a daily time frame, we can see the Head and shoulder pattern. A head and shoulders pattern is a chart formation that presents as a baseline with three peaks, the outside two are close in height and the middle is highest. Moreover, a head and shoulders pattern explains a specific chart formation that predicts a bullish-to-bearish trend reversal. However, this is the result of the high trade volume that occur in that period.
The Relative Strength Index (RSI) is above 45.19, which means that KSM is in neither 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 Price Prediction
The chart below shows that Kusama has performed great over the past few days. Moreover, the KSM price is over 25% in the last 7 days. If this trend continues, KSM might run along with the bulls, overtaking its $961 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 165, 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 this year. However, that will only happen if it breaks many psychological resistances that occurred previously.
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 $961. As said above, it may even reach $1K if investors have decided that KSM is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.
Users can obtain KSM tokens by purchasing them from cryptocurrency exchanges such as Binance, or Huobi Global.
KSM is a good investment in 2021. However, KSM has a high possibility of surpassing its current ATH at about $623 this year.
Yes, it’s very much possible that KSM might reach $1K in the near future as per the current bullish trend.
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.