Kusama Crypto Price Prediction: 2024-2030: $3,000 is Possible?
Since its launch in 2019, Kusama has exhibited one of the most aggressive trading activities in the markets.
At one point, it traded above the $600 price level, reaching a high of $628 on May 18, 2021, during the crypto bull market.
However, since then, Kusama’s prices have dropped over the past two years, with today’s price trading at $50, a 92 percent drop from its all-time high.
However, the fate of Kusama in the markets is changing.
In the past six months, Kusama has risen by over 90 percent, from $26 to the current price of $50.
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This significant price surge has not come as a surprise, with many factors contributing to the resurgence of the project.
See related: Which Crypto Will Explode in 2024?
Why is Kusama ($KSM) trending up?
Despite its challenges over the past two years, Kusama is on an upward swing, partly due to current market factors in the cryptocurrency industry.
Over the past few months, the crypto industry has also been aggressively pushing forward, resulting in its total market capitalization rising by 39 percent from $1.15 trillion to the current $1.6 trillion.
The bullishness of the entire cryptocurrency industry has been reminiscent of 2021, when Kusama traded above $600 for the first time.
However, that is not the only reason why Kusama has continued to trade upwards.
Its fundamentals, such as the project being a scalable, multi-chain network designed for radical innovation, have also attracted investors.
With a strong leadership team from Gavin Wood, its founder, who was also the founder of Polkadot and co-founder of Ethereum.
Looking into the future, we expect these factors to play a significant role in Kusama’s performance.
For instance, we anticipate the current bullish trend will continue throughout 2024 regardless of developments in the cryptocurrency industry, partly due to factors such as expanding market penetration, user growth, and support for various applications such as gaming, eSports, and social networking.
See related: Crypto predictions for 2024
Kusama Price Prediction 2024 -2030
We have already examined why we remain bullish on Kusama based on fundamental analysis.
The chart above provides a glimpse of the historical price levels at which Kusama has traded, and we expect it to return to these levels within the next few years.
As the price history in the chart above shows, Kusama was able to move from $50 to trading over $600 within a span of less than ten months between August 2020 and May 2021.
Therefore, it is clear that when there is momentum, Kusama can aggressively move in the markets.
Today, trading at the same price as in August 2020, we forecast the current bullish trend that has seen it rise by over 90 percent to continue into 2024.
Kusama Forecast 2024 (KSM)
The first price level we are monitoring is $100. We expect this price to be hit between mid-2024 and the end of 2024.
There is a very high likelihood that the year will end with Kusama trading above the $102 long-term resistance level.
2025-2030
Between 2025 and 2030, we expect Kusama’s price to move in phases, breaking the $203, $515, and $628 resistance levels and setting a new price high.
In the first phase, we expect Kusama to hit and break the $203 price level that it last traded at in May 2022 by the end of 2025 or during the first half of 2026.
The second phase will involve breaking the $515 resistance level, which it set in November 2021, between the second half of 2026 and the first half of 2029.
By the time we get into 2030, we expect Kusama ($KSM) to have broken its all-time price high of $628 and trading just above the $700 price level.
It is important to note that, despite our prediction showing a very high annual growth of about 45 percent per year between now and 2030 for Kusama, it is conservative.
If you look at the aggressiveness Kusama moved with between August 2020 and May 2021, where it gained over 1,100 percent within ten months, then it is possible that Kusama will be trading well above $3,000 in 2030.
We have opted for the conservative approach to illustrate its growth potential and why we think it is a suitable long-term cryptocurrency investment.
Disclaimer: this is not financial advice. Please consult a licensed financial advisor prior to making any investments.
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