Sharing their digital genome with Polkadot, Kusama is meant to act as an experimental blockchain to provide interoperability and scalability support to developers. In simple words, Kusama is intended for developers to test, improvise and scale their builds. Furthermore, it relies on a consensus-based proof of stake, thus having lesser energy requirements than the proof-of-work-based cryptocurrencies.
There are a total of 8 million KSM tokens available for trading. The entire ecosystem is a replica of the Polkadot blockchain network, which is meant for the enterprise audience. Taking a look at the price action on Kusama in recent days, let’s bounce to the technical charts to plot the future possibilities.
Kusama Price Analysis
KSM has marked an enormous breakout candle, but it could be a freak candle that destabilized the price action.
Although it has been falling since the morning of September 01 and has tanked by more than 4%, this candle will be vital towards unlocking a more decisive price action as KSM is already trading above the upper band of the Bollinger band indicator with RSI closing towards the overbought zones. The future might be uncertain, but it’s full of possibilities as per our Kusama price prediction. If KSM sustains the vast gains on August 31, 2021, it can rally some buying sentiment.