Polkadot (DOT) canary test network Kusama (KSM) is down 13% over the last 24 hours despite a listing announcement from Coinbase.

Kusama price is trading under the influence of bears over the daily chart. However, the token went into a range-bound area on 13th May. The token has been sideways since then and now falters at the lower range to sustain and get up. KSM bulls are on the move as prompted by trading volume. Volume change is under control of bulls and KSM is going through some buying at the moment. However, KSM strictly needs to attract more buyers to sustain and stay inside the horizontal range-bound area over the daily chart. Kusama investors need to wait for any directional change over the chart.

Despite more tokens entering circulation, the price of KSM has increased by over 13%.

Polkadot (DOT) canary test network Kusama (KSM) is down 13% over the last 24 hours despite a listing announcement from Coinbase.

Kusama price is trying to retain its position over the daily price chart. The token is trying to gain uptrend momentum to retain its position. However, KSM bulls failed to sustain near the lower trendline and got detained. KSM coin price must accumulate more buyers in order to get back its position. KSM investors need to wait for any directional change over the chart. KSM buyers need to come forward to let KSM surge over the chart.

Over the past few months, there has been a growing demand for blockchains that can be interoperable and achieve a high level of performance. Two of these blockchains are Polkadot, and its canary network, Kusama.

Kusama Coin registered a dramatic decline after receiving rejection at the $200 ideological round level. The $200 mark is an important resistance area which has been retested twice in 2022. The bulls continue to reject the bounce-back in terms of the daily price chart.

Despite getting rejected from the $516.6 mark, KSM Coin is falling gradually by making the downward wedge pattern in the daily time frame; whenever KSM Coin tries to break this rising pattern to the rising side, the sellers rattle it downward. The whole market is currently bearish according to the current market situation.

Sister of the Polkadot project, Kusama is an experimental blockchain designed to provide an interoperable and scalable framework for developers, with the features that are not yet available on Polkadot. Kusama is unusual among blockchain platforms since it is predominantly built for developers that want to launch bold, ambitious projects, with a fast evolving pace of development.

Despite getting rejected from the $516.6 mark, KSM Coin is falling gradually by making the downward wedge pattern in the daily time frame; whenever KSM Coin tries to break this rising pattern to the rising side, the sellers rattle it downward. The whole market is currently bearish according to the current market situation.

Kusama coin declined significantly in April, where buyers lost nearly 70% of its cost as it moved from the $200 mark to a 90-day low of $62.5. Aggressive buyers continue to strive for higher momentum since the May lows, but fail to cross the sideways zone.

Yesterday, Coinbase (NASDAQ:COIN) announced it would be adding Kusama (KSM-USD) to its exchange. This announcement allowed for inbound transfers as of yesterday. Today, as of 6:00 a.m. Eastern, trading capabilities have been added. As a result, investors are showing quite a bit of interest in Kusama price predictions.

Kusama is a permission-less network enabling developers to experiment and test decentralized applications and blockchains before deploying them on Polkadot. It is...