Cryptocurrencies: Polkadot and Kusama reach a crucial resistance zone

The crypto market has finally been showing optimistic signals for the past few days. Thanks to the recovery of bitcoin, the crypto sector is getting back on track and reassuring investors. However, some cryptos struggle to find the catalyst that could blow them up. Polkadot and Kusama are therefore stagnating in a critical resistance zone.

Market recovery: Polkadot and Kusama stagnate

While the crypto markets are in a rather reassuring trend, Polkadot and Kusama struggle to stand out and take flight. Since the increase in the price of bitcoin, many cryptos are taking advantage of its recovery to consolidate on the market.

Dogecoin, Shiba Inu or ether, many altcoins follow the trend and acquire a few percent each day. However, Polkadot and Kusama stagnate and hold in a critical resistance zone. Indeed, the DOT remains in a no-trade zone with a resistance barrier at $10.70 and a support floor at $8.55.

The crypto would therefore need a change in its price to determine the direction that its token will take. To do this, a decisive four-hour candlestick outside this range could perhaps be the solution that will allow the Polkadot to explode. An upside could therefore occur if a breach of the $10.70 resistance level occurs.

Real-Time Polkadot (DOT) Quotes

Otherwise, a freefall to $5.18 could follow if the crypto drops below $8.55. Just like Polkadot, Kusama is hovering around $64.80 and $87.85 and only a four-hour close could define the direction KSM’s price will take.

Rise of bitcoin, favorable point for DOT and KSM?

For many months, cryptocurrencies have been on a downward trend that has shaken many investors. The price of some cryptos has even fallen so much that experts predicted zero value in a few years. However, with the rise of bitcoin, cryptos like Shiba Inu are gaining a bit of a percentage each day.

While SHIB is doing quite well, Polkadot and Kusama haven’t yet found the right solution to blow up their prices. The volume of transactions remains relatively low. This is normal since these two cryptos are in no-trade zones.

To hope to follow the same course as some cryptos currently, DOT and KSM must cross their points of interest. To do this, they must absolutely find new catalysts, otherwise their directions could remain unclear. This move could be a downside for both cryptos since usually almost all cryptos follow the course of bitcoin.

The crypto sector, as everyone knows, is very volatile and can lose a lot of money. As a result, many people are wary of it and hesitate to start. Cryptos have been on a steep downtrend. Fortunately, bitcoin opened the week with bullish price action. However, Polkadot and Kusama stagnate and struggle to break out of the resistance zone.

Source : Cryptobriefing

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Eddy Senga

Passionate about cryptos and the blockchain, I would like to introduce this universe to those who do not know it yet, and encourage them to adopt it just like me.

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Cryptocurrencies: Polkadot and Kusama reach a crucial resistance zone

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