Kusama (KSM) Makes Its Way to New ATHs Over Upcoming Parachain Auctions

Polkadot's sister chain Kusama (KSM) is continuing its bullish rally, with prices touching new ATHs through the week despite the weakness in

Written by: Aiswarya Gopan • Saturday, May 15, 2021 • 1 min read

• Last updated: Saturday, May 15, 2021

Kusama (KSM) Makes Its Way to New ATHs Over Upcoming Parachain Auctions

Polkadot’s sister chain Kusama (KSM) is continuing its bullish rally, with prices touching new ATHs through the week despite the weakness in the overall crypto market. At the time of writing, KSM/USD is trading at around $563.

Known as Polkadot’s canary network, Kusama is an experimental blockchain network designed keeping interoperability and scalability in mind. The network is gearing up to hold parachain auctions, which will enable projects to bid on their offer to join Kusama’s blockchain.

The KSM token has been climbing higher from a low of $378 touched on May 10 after the network announced a new upgrade a couple of days later. Dubbed upgrade v0.9.1, the latest developments bring the code for parachains, auctions and crowdloand and aims to cut down vested transfer and fees/deposits significantly. The demand for KSM tokens surged following this announcement as a higher number of tokens are required in order to be able to participate in voting.

Key Levels to Watch

The MACD indicator and most moving averages point to a bullish bias in KSM/USD for now. The key level worth keeping an eye on now is the immediate resistance buyers will face at $603.

A break above this can further strengthen Kusama’s uptrend and drive it to touch more ATHs going forward. However, if buyers are unable to cross this key level, the price of KSM could easily slide down to support levels that sit at $518 and further lower at $484.

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ABOUT THE AUTHOR See More

Aiswarya Gopan

Financial Writer & Editor - Asia & Europe Desk

Aiswarya Gopan is a financial journalist, editor, and content strategist with more than 19 years of experience across financial markets, fintech, blockchain, and technology. She has worked with leading cryptocurrency exchanges, including BingX and KuCoin, driving content strategy, market research, and editorial initiatives covering digital assets, DeFi, Web3, and global financial markets. Drawing on a background in cybersecurity, technology journalism, and market research, Aiswarya specializes in translating complex financial and blockchain developments into clear, timely insights. At FX Leaders, she covers cryptocurrency, stocks, forex, and macroeconomic developments across the Asian and European trading sessions.