Kusama Parachains is a decentralized platform that allows individuals to share their unused processing power and earn cryptocurrency for doing so. The project was recently recognized as the winner of the first-ever KSM Challenge, which saw it receive an additional $100,000 in funding from its partners.
Kusama Parachains is a cause for KSM to 2X towards $900. The project was started by the founder of the company, Justin Sun.
In the past several days, Kusama prices have been swinging back and forth. It was clear, though, that KSM purchasers remained in the lead.
The pace was set two weeks ago when the second round of the Kusama Parachain sale was announced—a major event.
As things stand, demand will be strong for the rest of the month, either pushing or sustaining KSM values in a volatile crypto market.
Market Performance and Price Status in Kusama
Kusama is steady at the time of writing, with a week-to-date gain of 2% versus the greenback.
Notably, KSM has successfully recovered the losses of September 7, solidifying the bullish stance of the KSM bulls.
As Kusama traders aim for even greater gains in the weeks and months ahead, ambitious traders may have a chance to scoop the dips and seek quick highs.
KSM is in a bullish breakout pattern on the Kusama daily chart. Trading volumes—a measure of participation—are within average, which is encouraging.
The bull bar on August 31 had more participants than the shock dump on September 7, indicating that traders are more optimistic about Kusama’s medium-term prospects.
If a result, as KSM prices rise, ambitious traders may find attractive entry points, aiming for another 30% increase to $580, the Q1 2021 highs.
The Kusama bulls’ chances are bolstered by a string of higher highs and overall buyer resiliency, as prices are clearly going upward within an expanding channel.
KSM prices have almost quadrupled since late July 2021, with continuous higher highs.
KSM/USDT Trades in a Bullish Breakout Pattern, with Kusama open for $450.
According to a trader on Trading View, Kusama’s upswing is just getting started, and it may be on its way to $450.
The price of KSM/USDT is currently inside a bullish breakout pattern, as seen on the daily chart.
Specifically, the currency broke over a key resistance trend line on August 31, ushering in a new era. Technically, the recent pullback provided a chance for aggressive traders to double down, hoping to profit from the next wave upward.
KSM traders are referring to the August 31 bull bar to print higher, establishing new September 2021 highs, arresting September 7 losses.
As previously said, KSM may eventually rise above $450 to $580 in the longer run, confirming the August 2021 turnaround.
A “Big Rally” by KSM is in the works.
KSM is on the verge of printing new H2 and September 2021 highs, according to one trader, indicating that the currency is primed for a huge surge.
According to the expert, Kusama would likely surge over $580, setting fresh 2021 highs around $640.
The inability of sellers to follow through on the September 7 bearish engulfing pattern solidifies my forecast. The double-bar selling configuration has been confirmed as a result of this.
August 2021 buyers are still in the running because the KSM bulls returned and prices are moving upward. This would keep the rally up towards $640.
Kusama’s long-term goal is $900.
A trader on Twitter is still optimistic.
The LONG TERM chart of #KSMUSDT#KSM seems to be bullish! https://t.co/SWmxjt8dqN
September 8, 2021 — Crypto Finzz (@cryptofinzz000)
He sees a cup-and-handle configuration on the daily chart, according to his research. This rounded bottom would serve as the anchor for the coin’s next moonshot, which would push it to $900.
Even yet, a close above $540—June 2021 highs—is required for this to print.
Trading View provided the charts.
Disclaimer: The views presented do not constitute investment advice. Do your homework.
The ksm parachain auction date is when the Kusama Parachains are scheduled to be released. The date has not been set yet, but it could happen in September or October.
Frequently Asked Questions
What is Kusama KSM?
Kusama KSM is a Japanese artist who creates mind-bending installations of art.
What are Kusama Parachains?
Kusama Parachains are a type of optical illusion that creates the illusion of infinite space. They were created by artist Yayoi Kusama in the 1960s and have since been used in her artworks.
Who is winning Kusama Parachain auction?
The answer to this question is unknown because the auction has not concluded yet.
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