Polkadot (DOT) and Kusama (KSM) Technical Analysis: Buyers Taking Charge?


Polkadot (DOT) is above the 20-day moving average as prices bottom up. Meanwhile, Kusama (KSM) could surge to clear $300 if buyers build on December 23 gains.

Polkadot (DOT)

Polkadot, the interoperable chain, is a platform for launching quality projects with DOT as the primary coin.

Past Performance of DOT

The Polkadot token price is up almost 22 percent from this week’s lows based on the DOT technical analysis in the daily chart. As the DOT crypto outperforms the USDT, buyers appear to be solidifying their bases.

Polkadot Technical Analysis

In the short term, DOTUSDT prices are springing back from December 2021. Notably, DOT coin prices are trending above the middle BB for the first time since November 10. Following the close above this previous resistance line, now support, every low could be a loading opportunity. Considering this formation, the first target for aggressive DOT coin bulls stands at $33—the high of the December 4 bear candlestick.

Day-Ahead and What to Expect

As per the formation in the daily chart, the short-term trend favors buyers. Expressly, the close above the middle BB on December 23 confirms gains of early this week. As such, the odds of DOT crypto pulling higher towards December 4 highs of $33 remain high.

Kusama (KSM)

Kusama, the canary network, is for retesting dApps set for launching on Polkadot. Central to this network is KSM.

Past Performance of KSM

The Kusama coin price is printing higher, aligning itself with the primary trend across the crypto market. As per the KSM technical analysis of the daily chart, buyers have the upper hand.

Kusama Technical Analysis

There are encouraging signs of strength as per the candlestick arrangement in the daily chart. Following the close of KSMUSDT prices above the symmetrical triangle, bulls may add to their longs in the days to come. Kusama crypto bulls still need to clear $300, the immediate resistance line. Doing this will invalidate the bear breakout pattern of early December 2021.

Day-Ahead and what to Expect

There are refreshing higher highs in the KSMUSDT daily chart. Following recent gains, Kusama coin buyers may build a launching pad for a race towards $300. A close above this psychological round number would, as mentioned earlier, cancel the bearish outlook of the Kusama coin price.

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