search icon
      blog search icon

      Kusama (KSM) – Where will it move Now? - Stocks Telegraph

      By Ammar Mukhtar

      Published on

      December 24, 2021

      4:42 AM UTC

      Kusama (KSM) – Where will it move Now? - Stocks Telegraph

      According to coinmarketcap, the total supply of KSM is around 9.6M KSM and around 8.47M of the KSM are in circulation at the moment. It holds the 60th rank according to market cap and has a market dominance of 0.10%.

      At the time of writing, KSM is being traded at the price of $273.01 with an increase of almost 0.57% in the last 24 hours. The maximum and minimum today are $280.56 and $267.95 respectively. The daily trading volume has increased by almost 22.38%. KSM had created its ATH in May 2021 and reached a price of almost $625. The price during the crash dropped down to a price of almost $142 in the month of July 2021. Overall the price is moving to higher highs. In November, we saw an increase of almost 6%. This month, we have seen a decrease of almost 30.31%.

      Technical Analysis

      We can see that Kusama has been bullish at one point. The price was creating higher highs and higher lows. Soon after, the price of KSM failed to create another high and confirmed the reversal in the structure. This lead to a drop in the price.

      A point of interest is the daily order block that has been created above the current price. This happened when the drop in the price started to happen and we saw massive red candles getting printed.

      KSM - 1D

      After the drop, the price of KSM went into a descending correction. Now we can expect is that the price can move out of this descending correction. From there, we can look for a retest. If the retest holds, we can expect a move towards the daily order block. When the price reaches that point, we can expect a reaction from the price. If it holds, the price can have a shot towards the last higher high.

      Price Prediction – Kusama (KSM)

      KSM is a good investment and is going to provide great returns. Wallet investor considers KSM to be a really good investment as well. According to them, in a year the price is expected to reach a value of $576.134. In five years the price is expected to reach a value of $1771.100. Traders on the other hand are very bullish on the price and think that it wouldn’t be long before KSM moves up to create a new ATH.

      More From Stocks telegraph