Polkadot (DOT) and Kusama (KSM) Technical Analysis: What to Expect?
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Polkadot (DOT)
The creators of the cross-chain protocol say it is “the most robust platform for security, scalability, and innovation.” Competing with Ethereum and other smart contracting networks, it uses DOT as a utility coin.
Past Performance of DOT
DOT gains may not be rapid, but the uptrend is clear.
At press time, DOT is stable, losing three percent against the greenback with decent trading volumes in a bullish breakout pattern clear in the daily chart.
DOT bull bars are banding along the upper BB above $20.
Day-Ahead and What to Expect
Considering the candlestick arrangement in the daily chart, Polkadot buyers are in control despite the contraction.
DOT crypto prices are likely to build this week’s gains, printing above $20 in a buy trend continuation pattern if DOT technical analysis guides.
As per the Polkadot technical analysis, the uptrend is valid above $20 and the middle BB.
DOT/USDT Technical Analysis
DOT token is edging higher, trading in a bullish breakout pattern.
Accordingly, every low may offer a loading opportunity for aggressive DOT coin traders, targeting $45.
On the flip side, a sharp contraction below the middle BB in the daily chart and $20 invalidates bulls, halting the rally.
Kusama (KSM)
Using the KSM coin, the protocol is a scalable multi-chain for radical innovation.
Past Performance of KSM
August 11 surges illustrated the level of demand for Kusama and KSM crypto.
It is presently up three percent and bulls are positioning themselves for more gains above $280 as bulls dig in.
The immediate support line is the middle BB—in the daily chart—and July 2021 high of around $240.
Day-Ahead and What to Expect
The odds for a close above $280 remain high reading from the daily chart.
Technically, a close above $280 opens up the KSM coin to $580 in the medium term if the KSM technical analysis is anything to go by.
On the flip side, a reversal from this reaction line would dampen bulls.
KSM/USDT Technical Analysis
KSM technical analysis suggests bulls.
However, traders must wait for a sharp, high-volume close above $280 before committing, in confirmation of August 11 gains.
In that eventuality, Kusama token prices could surge towards $580. A rejection of higher highs could see KSM/USDT prices drop back to the July 2021 high of $240 in a retest.