Downtrend In KSM Is This Just A Beginning?Kusama price traded at $477.30 with a loss of 12.38% in the last 24-hour and 14.20% up in the weekly time-frame. Furthermore, the Kusama price plunged from the resistance of $570.0. In contrast, the market capitalization stands at $4.02 billion. Technically, investors can perceive a negative crossover in EMA, and the price drops below the 55-EMA. RSI index showcases a downward slope. Moreover, the price movement can be towards the support of $466.80 in future trading sessions.
Resistance: $570.0
Support: $466.80
KSMUSDT trade ideas
KSM Jumps From $520.0, May Fall BackKSM price traded at $526.12 with a loss of 2.57% in the last 24-hour and 16.41% up in the weekly time-frame. Furthermore, Kusama price jumps from the support of $520.0. In contrast, the market capitalization stands at $4.47 billion. Technically, investors can perceive a positive crossover in SMA, and the price is fighting to sustain above the 21-SMA. RSI index showcases a downward slope. Moreover, the price movement can be towards the support of $520.0 in future trading sessions.
Resistance: $570.0
Support: $520.0
KSM.USDT (P21.P2.E2).Uptrend.stalkingHi Traders,
Sorry to get this out late but might as well put it out there as its got a trend that keeps on giving.
I just jumped in with this last candle in the making, just lucky, right place right time.
How to trade this?
Keep an eye on this.
Stalk it on the 4 HRLY and look for the next pullback\cradle setup.
All the best,
S.SAri
KSM: utility and governance goldKUSAMA
KSM, the official test net of Polkadot is one of the most fundamentally strong projects in crypto. (research why yourself)
With the launch of their parachains and full testnet we basically see a roll out of Polkadot v1.0 with numerous clients and partners.
Although it is a testnet; it does offer the full Polkadot feature set and is the first one to launch innovations...
LONG TERM
The governance / utility token KSM is an amazing scarce asset with great token economics (most of them released) and is still undervalued in marketcap.
By the end of the year I expect Kusama to be between a 15 and 20bn marketcap, but even more is possible depending on adoption.
Long term KSM tokens will be like governance gold and I expect Polkadot and Kusama to play a major role in Web 3.0, Defi and intra-chain connectivity.
I definitely see KSM and DOT both respectively push projects like ADA, THETA , DOGE, BCH, LUNA and LTC from the top spots.
TOKEN ECONOMICS
Market Cap: $4,155,693,549
24 Hour Trading Vol: $548,112,535
24h Low / 24h High: $413.74 / $501.87
Circulating Supply: 8,980,098 / 10,000,000
Fully Diluted Valuation: $4,627,670,561
Max Supply: 10,000,000
MID / SHORT TERM
In the mid / short term we can see more growth for KSM and I see Kusama outperfom BTC, ETH and other major alts for the next 4 to 6 weeks - with a price target of 600$ (+30%) in that same time.
KSM// Ascending ChannelKSM has been in this ascending channel for the past month, and is arguably one of the relatively less correlated tokens in response to previous BTC drops. KSM has also been very popular among the Crypto community. I believe its apart of the Polkadot Ecosystem, dyor.
From a technical standpoint this would be a great time to re-enter or add positions. Price had a strong bullish impulse and high volume candles rejecting the bottom of the trend-line.
Reasons not to enter...yet:
1. In previous TL touches, price has tested the area multiple times before appreciating.
2. Looking at my previously drawn Fibs from the start of the month, Price is between -27 and -61%, a safe area to enter would be after a strong close above and support above -61%. While it may cut potential profits...preservation of capital to trade another day.
3.We had a series of strong bearish high volume candles. Many short term buyers are probably thinking of taking profit.
Let me hear your thoughts, previous Kusama analysis linked.