Kusama Price Drops Abruptly as Polkadot Turns Red

  • KSM after making high of $60.04 drops to the level of $23.34 as the low over the monthly chart
  • It has a circulating supply of 8,470,098 KSM coins and the total supply is 9,651,217 KSM
  • The volume traded in the last 24-hours is $29,955,160 and the market capitalization is at $247,560,209
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Over the monthly chart, the coin has a high of $60.04 act as the 52-week high while the coin has a low of $23.39 act as the 52-week low. After touching the level of $23.39 the price recovery is observed in the coin. It traded at the level of $29.23 with the loss of -4.65% in last 24-hours. However, it gains 26.43% in the last seven days as it recovers from the low.

The market capitalization stands at $249,772,543 and the volume traded in the last 24-hours is $30,121,335. The circulating supply is 8,470,098 KSM coins and the total supply is 9,651,217 KSM as the demand over the circulating is less. We can see a future downfall in the crypto asset.

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Kusama is an early, unaudited, and unrefined release of Polkadot. Kusama aims to serve as a proving ground, allowing teams and developers to build and deploy a para chain or try out Polkadot’s governance, staking, nomination, and validation functionality in a real environment.

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The moving average of the coin gives the crossover of 5 DM over 10 DM as the price recovery is seen from its low. We can expect a bullish move only if the price candle closes above the 30 DM and sustain above the level of $30.60.

5 DM: 30.16

10 DM: 30.69

30 DM: 30.52 

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Pratik Chadhokarhttp://www.thecoinrepublic.com
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.

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