- Kusama is currently trading at $22.68 with a rise of 3.25% in the 24 hours.
- Its live market cap is $191994719.
Kusama a blockchain network for the public runs on the same code as Polkadot. It is intended to be a canary build for the Polkadot network. It is an experimental blockchain built to give developers a scalable framework. Kusama is also known as the “wild cousin of Polkadot” and was introduced by Gavin Wood, one of the co-founders of Polkadot. Polkadot and its shared blockchain and open governance provide a scalable framework for business.
Without any fork and supporting cross-chain messaging Kusama gives power to the developers to perform on-chain upgrades. Kusuma’s circulating supply is 8.47M tokens and its total supply is 10 Million.
By analyzing the price data of the KSM coin, it is observed that it is in a downtrend. The price inclined by 2.83% in the last seven days and we can say that the EthereumPoW coin’s performance is good. It tanked -96.04% from its peak price of $621.71 in spam for 24 months. The current market sentiments are not so good about the KSM. No huge volume is present in the Kasuma coin. As of now, there is no buyer interested in buying the Kasuma coin. There is bearish dominance in the market.
Kusama Price Analysis
The price of Kasuma coin (KSM) has slipped below 50 and 200 EMA, which suggests that the price is in a bearish trend. If the sellers continue to push the price down, the coin’s value may fall even further in the upcoming week. The bears are not in the mood to give power to the bulls right now.
The technical indicator MACD is also on the negative side and giving us a bearish signal. The MACD line at -1.04 and signal line at -0.68 are below the zero line which suggests the MACD is in negative territory and giving the bearish signals.
The current value of RSI trades near 36.78 points and the 14 SMA line is currently trading below the median line around 44.48 points which shows bearish sentiment in the market. As the price is heading toward overbought territory, the market is experiencing bearish sentiment currently which is a negative sign.
Technical Levels:
- Support – The current support level of Kusama is $20.23.
- Resistance –The current resistance level of Kusama is $30.36.
Conclusion
Kusama’s price presently shows a negative scenario for the near future. Major indicators like EMA, RSI, and MACD are showing negative signs for the coin, and investors are also not showing any big buying interest. This could be due to the negative performance of the coin. Due to the adverse performance of the KSM investors are afraid to invest. The coin is not showing any recovery signs right now.
Disclaimer
The following analysis is provided for informational purposes only and should not be considered as financial, Investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss. Please consider your own circumstances and risk profile before making any investment decisions.
