{"id":998,"date":"2021-05-25T01:22:15","date_gmt":"2021-05-25T05:22:15","guid":{"rendered":"https:\/\/www.hodlin.com\/blog\/?p=998"},"modified":"2021-05-25T01:22:18","modified_gmt":"2021-05-25T05:22:18","slug":"kusama-price-analysis-ksm-tanks-42-percent","status":"publish","type":"post","link":"https:\/\/www.hodlin.com\/blog\/kusama-price-analysis-ksm-tanks-42-percent","title":{"rendered":"Kusama Price Analysis: KSM Tanks 42%. Will It Retest $150?"},"content":{"rendered":"\n

The crypto market is bleeding, and Kusama<\/a> is no exception.<\/strong><\/p>\n\n\n\n

\"Kusama
Kusama Price Tanks On May Crash<\/figcaption><\/figure>\n\n\n\n

Fundamentally, the coin is propped by positive news. However, Kusama price analysis shows sellers have the upper hand if technical candlestick arrangement guide.<\/p>\n\n\n\n

Week-to-date, KSM is down 42 percent but encouragingly stabilizing on the last trading day. Accompanying this rebound is a spike in participation. Although trading volumes shrunk over the weekend, the influx of traders pushed participation to $617 million.<\/p>\n\n\n\n

Kusama Market Overview<\/h2>\n\n\n\n

The KSM price<\/a> analysis show that it’s changing hands at $303.<\/p>\n\n\n\n

At spot levels, the coin is up 10 percent versus the greenback on the last trading day.<\/p>\n\n\n\n

Week-to-date, KSM is down 42, 28, and 13 percent against the USD, BTC, and ETH, respectively. Meanwhile, as aforementioned, volumes have more than doubled to $617 million<\/p>\n\n\n\n

From the daily chart, the KSM\/USDT price is trading within a bear breakout pattern following May 23 losses.<\/p>\n\n\n\n

Technically, KSM\/USDT’s consolidation of the last few trading weeks is proving to be distribution. At this pace, therefore, the path of least resistance could be southwards in the medium term.<\/p>\n\n\n\n

A possible reaction point in the immediate term stands at $150\u2014the 78.6 percent Fibonacci retracement level of the Q1 2021 trade range.<\/p>\n\n\n\n

Kusama Market Movers<\/h2>\n\n\n\n

Kusama is an independent blockchain, considered Polkadot’s cousin. It is because, from the network, tests can be done before activation in Polkadot.<\/p>\n\n\n\n

Bearing similar properties as Polkadot, Kusama is equally scalable and interoperable. Kusama is a canary network, offering a low barrier to entry for deploying parachains. Accordingly, developers are free to launch dApps, gaining access to features that aren’t deployed in Polkadot.<\/p>\n\n\n\n

KSM holders approved the proposal to activate Kusama parachains on May 17.<\/p>\n\n\n\n

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Proposition #110 is now up for voting on @kusamanetwork<\/a> – if passed, this will add the very first parachain into Kusama(!) pic.twitter.com\/qEpAI2yyuO<\/a><\/p>— Gavin Wood (@gavofyork) May 17, 2021<\/a><\/blockquote>