Polkadot and Kusama prices are correlated. KSM/USDT has support at $150, but DOT/USDT bulls may breach $15 towards $50 in a buy trend resumption pattern. Polkadot (DOT) The blockchain is an interoperable platform for launching dApps, tokenizing assets, and crowd-funding. DOT is its main currency. Past Performance of DOT DOT prices have more than halved after dropping to as low as $12 in June. At peaks, DOT changed hands at over $42, fanned by growing demand for interoperability factors. As of writing, DOT is stable relative to the USD as bullish flickers are extinguished by falling trading volumes. Day-Ahead and what to Expect The path of the least resistance remains southwards unless there is a definitive close above the middle BB. The breakout, most importantly, must be with rising trading volumes. For now, the consolidation of DOT prices and higher highs relative to the lower BB may be indicators of accumulation. DOT/USDT Technical Analysis On the lower end, DOT/USD has support at $12. On the flip side, a close above the middle BB and $15, rewinding the bear engulfing candlestick of July 8 may see DOT bulls double down, targeting $50 in the medium term. After drawdowns of May and June, DOT prices may have support. However, this depends on whether DOT/USD will trend above $12—the main support level marking June 2021 lows. Kusama (KSM) The protocol is independent, operating as an experimental platform for developers looking to eventually dApps on Polkadot. The native currency is KSM. Past Performance of KSM KSM/USDT prices are moving in lockstep with Polkadot. Like DOT, prices are stable, facing strong rejection at the middle BB. Technically, while buyers stand a chance due to fundamental factors, the 20-day moving average is a crucial buy trigger. Presently, KSM is under pressure but relatively stable versus the greenback. Day-Ahead and what to Expect The primary support lies at around $150—June 2021 lows. On the upside, gains above $250 confirm bulls of June 28, the basis for higher highs towards $280 in a buy trend continuation pattern. KSM/USDT Technical Analysis Gains have been fleeting as per KSM/USDT daily chart. From the daily chart, a close above $280 could see aggressive traders load the dips targeting $280. However, the confirming close above $280 rewinding June 21 and 22 losses might redefine KSM price action, possibly opening up the expansion to $580.
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