Kusama (KSM) and Compound (COMP) Technical Analysis: What to Expect?
Compound and Kusama prices are springing from this week’s lows. As we advance, COMP/USDT upsides are capped at $330 while KSM/USDT has support at $150.
The Polkadot laboratory operates as an independent chain primed by the KSM coin.
Past Performance of KSM
Like the rest of the markets, KSM slid but is now recovering.
From the daily chart, fortunes might change, and bulls flock back.
However, today’s bar must be green for a defining shift in trend, preferably closing above June 22 highs.
As of writing, KSM is at break-even, unwinding losses of June 21.
Day-Ahead and what to Expect
Despite confidence from June 22, the path of the least resistance is southwards.
Notably, KSM/USDT is still trending along the lower BB in the daily chart.
Accordingly, as long as prices trend below $300 and inside the June 21 bear bar, sellers have the upper hand.
KSM/USD Technical Analysis
The June 21 bear bar defines KSM/USDT price action.
As such, trend shift depends on how firm the close above $300 would be, reversing June 21 losses.
As we advance, aggressive KSM/USDT traders can buy the dips above $150 with targets at $300.
If bears flow back, forcing KSM below $150, hopes of bullish resumption will diminish.
Through the DeFi protocol, users can earn interest by depositing supported cryptocurrencies. COMP is the platform’s native currency.
Past Performance of COMP
COMP bears have been ferocious.
At the time of writing, COMP/USDT bulls are building on June 22 gains, adding 12 percent versus the USD.
COMP buyers must have the upper hand today. If not, COMP might slide lower, and bears reveal their dominance.
Day-Ahead and What to Expect
The short-term trend depends on whether COMP buyers will flow back and reverse losses of June 21.
In that case, $330 is important as the immediate reaction point.
Sustained pressure below $200 quashes bullish attempts.
COMP/USDT Technical Analysis
The zone between $200 and $330 is critical for COMP/USDT traders.
Aforementioned, gains above $330 and the middle BB could light up demand, printing a double bar bullish reversal pattern as COMP prices bottom up. As a result, every low might provide a loading opportunity for buyers targeting $300.
Dips below the primary support at $200 would dampen participation, sparking further losses.
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