Kusama Price Drops Abruptly as Polkadot Turns Red

Pratik Chadhokar
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 possesses strong technical analytical skills. He is well known for his entertaining and informative analysis of the Financial markets.
  • 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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Source:tradingview

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.

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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Source:tradingview

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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