Price Analysis

Polkadot(DOT) Price Could Plunge By 15% While Kusama(KSM) Price Primed for a 15% Upswing!

Written by: Sahana Vibhute

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Apr 8, 2022

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Highlights

    Polkadot is on the verge to slide down below $20 and may probably hit the lower support at $19.68

    Kusama displaying a diverse trend and aims higher to hit $200 by slicing through the immediate resistance at $193.

Despite the recent slash, the crypto market capitalization remains strong above $2 trillion. Mainly due to some of the assets exhibiting bullish momentum amidst the bearish momentum prevailing within the space. Kusama, the sister chain for Polkadot nowadays is displaying its capacity to lay down a strong uptrend towards the immediate resistance at $200. On the other hand, the Polkadot price is feared to lose momentum and plunge below $20 at the earliest. 

Polkadot (DOT) Price Analysis

Polkadot(DOT) price after a significant consolidation along the strong resistance at $23.18 slipped drastically. The plunge was fueled by consecutive bearish flags which slashed the price close to $20. Moreover, the price is now primed for another 10% slash which may drag the price below $20 primed by the latest bearish flag. The DOT price has currently ignited with a descending trend and could continue until the beginning of the weekend. 

Kusama (KSM) Price Analysis

The KSM price is now trading within a rising wedge which may slide down after a flip from the lower support towards the resistance. Later the price may slide down towards $180 support levels and ignite a flip here to hit the upper resistance zone above $192. Here the KSM price needs to sustain within the zones and finally slice through the consolidation to hit the levels close to $200. 

Polkadot (DOT) vs Kusama(KSM) 

Kusama & Polkadot’s price maintained a consolidated trend in the first fortnight of March and later ignited a significant uptrend. Since then KSM prices ranged high and hit more than 70% above the average levels. On the other hand, DOT prices ranged high to range 35% above the average levels. Woefully, amidst the recent plunge, the KSM price is 55.91% and the DOT price is 18.32% higher. However, the Kusama price is heading towards the north while the Polkadot price is sliding heavily towards the south. 

Collectively Polkadot & Kusama’s prices both after a drastic plunge display a diverse trend since the early trading days. Therefore both the assets are manifesting a descending trend, but the KSM price appears to be pretty strong compared to that of the DOT price. And hence Polkadot price needs to sustain at $20 to nullify the bearish scenario. 

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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