Solana and Kusama prices are steadying after profound losses in Q2 2021. SOL/USDT is bullish above $23, while KSM/USDT could rally to $580 if $280 is broken. Solana (SOL) The platform allows users, including institutions, to deploy DeFi dApps in a scalable, low-fee environment where SOL is the main currency. Past Performance of SOL As a functional platform, interoperable with the EVM, its activity-dense nature propped SOL prices. At the time of writing, SOL is down over 60 percent from H1 2021 peaks, trending inside a descending wedge, shrinking four percent on the last day. Day-Ahead and What to Expect Revival of SOL/USDT prices from spot rates completes a W-Formation. SOL has support at May and June 2021 lows at around the 61.8 and 73.6 percent Fibonacci retracement levels of the H1 2021 trade range. The short-to-medium term price trajectory depends on the breakout direction, appealing to risk-averse traders who may pounce on any price expansion or dump below $23. SOL/USDT Technical Analysis The downtrend is clear, reading from SOL/USDT technical Analysis in the daily chart. Buyers completing the W-Formation must find support at $23 and clear the resistance trend line above $30 for bulls targeting $40 and $58 in the medium term. Conversely, a high volume dip below $23 could see SOL crash back to $12, pushing retracement from H1 2021 highs to over 75 percent. Kusama (KSM) The independent blockchain, described as a “Canary Network,” is Polkadot’s experimental ground built on Substrate powered by the KSM coin. Past Performance of KSM KSM prices are stuck in a sideways movement broadly inside a $130 zone with support at $150. The consolidation will turn to accumulation if bulls take over, propelling KSM/USDT above $280 towards H1 2021 highs. At present, KSM is stable, pinned down by low trading volumes. Day-Ahead and What to Expect From the daily chart, the contracting BB suggests decreasing volatility and momentum now that KSM/USDT prices are accumulating. The primary support is $150, as aforementioned, moving inside June 28 bull bar. After dropping over 75 percent from $580, KSM/USDT medium-term trend depends on reaction at $150. Losses could see prices crash to below $100, while recovery would be a shot in the arm for bulls targeting $580. KSM/USDT Technical Analysis June 28 bull bar defines KSM/USDT short-term trend. A close above $250 in confirmation of the three-bar bullish reversal pattern of late June 2021 would be the momentum to overcome $280, unwinding losses of June 21 and 22, signaling price bottoms. In that case, risk-averse traders would find loading opportunities targeting $580.
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