A crypto analyst has made some observations about this altcoin. However, he believes there is potential to make more than 400% profit in altcoin.
Analyst spoke assertively about this altcoin
A crypto analyst took to Twitter early to share some of his observations about Kusama (KSM). According to the post, investors should look to a medium-term hold for KSM. The analyst drew attention to the falling wedge formed in KSM’s weekly chart. He then added that there is a profit potential of 460% to 520%. Data from CoinMarketCap states that KSM has seen a 2.10% price increase in the last 24 hours. However, it shows that it is currently trading at $25.15 after reaching $25.37 in the same timeframe. The cryptocurrency is also still in the green, more than 3% compared to last week. KSM managed to gain around 2.68% and 2.41%, respectively, against the two largest cryptocurrencies in the market, Bitcoin (BTC) and Ethereum (ETH).
However, the 24-hour trading volume for KSM is in the red zone. It is currently at $8,787,080 after falling more than 15% since yesterday. With a market cap of $213,031,415, KSM is the 108th largest cryptocurrency by market cap. Looking at the daily chart for KSM/USDT, the price of KSM is looking to challenge the 9-day EMA line, which is bearish below the 20-day EMA. A new bullish flag is the last cross of the daily RSI line above the daily RSI SMA line. In addition, the RSI line is positively sloping towards the overbought region. If the price of KSM successfully breaks above the 9-day EMA line, it will be confirmation of a bullish pump when it also breaks above the 20-day EMA.
Kusama (KSM) was among the tokens delisted by Binance
Binance, the world’s largest cryptocurrency exchange, made an announcement recently. cryptocoin.com As we mentioned, the stock market announced that it will delist some spot pairs on December 30, 2022, at 06:00 CET. Altcoins subject to the delist in question include Automata Network (ATA), Golem (GLM), Loom Network (LOOM), Rei Network (REI), StormX (STMX), Stratis (STRAX), Troy (TROY) and Kusama. (KSM) was located.
Users have said that they can continue to buy and sell assets on other trading pairs available on Binance. The exchange has announced that it will also end its strategy trading services for the aforementioned spot trading pairs. These services will also be terminated during the delist. The crypto exchange advised users to avoid any potential loss. According to Binance, “users are strongly advised to update and/or cancel their trading strategies prior to the expiration of strategy trading services.”