Here's Why Kusama (KSM) Price Could Outperform Polkadot (DOT)
16 Mar 2023 2:00 PM
The Polkadot (DOT) price was rejected by a crucial horizontal area while the Kusama (KSM) price reclaimed its own horizontal level....
- Polkadot (DOT) price has fallen since reaching its yearly high of $7.90 on Feb. 19 and has been rejected by the $6.20 support area.
- Kusama (KSM) price has also fallen since its yearly high of $49.49 on Feb. 19 but has reclaimed the $32.20 area and looks more bullish than DOT.
- If DOT reclaims the $6.20 area, it could increase to $7.60, but if the rejection continues, the price could fall to $4.25.
- An increase toward $47 is the most likely scenario for KSM, but a close below $32.20 would invalidate this outlook and could lead to a sharp fall toward $22.50.
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The article provides a neutral analysis of the current price movements of Polkadot and Kusama, highlighting key support and resistance areas for each. The tone is informative and objective, without expressing any particular positive or negative sentiment toward either cryptocurrency.
What was the yearly high for Polkadot (DOT) and Kusama (KSM) prices?
What support area did Polkadot (DOT) fall below and validate as resistance?
What support area did Kusama (KSM) reclaim after initially deviating below it?
What is the most likely scenario for Kusama (KSM) price movement, and what would invalidate this outlook?
What is the potential price range for Polkadot (DOT) if it reclaims or fails to reclaim the $6.20 support area?