16/09/2022 Polkadot (DOT) and Kusama (KSM) Face Price Crash as NFT Event Starts

Polkadot (DOT) and Kusama (KSM) Face Price Crash as NFT Event Starts

Polkadot (DOT) and Kusama (KSM) are barely holding on above the yearly lows and could break down soon, accelerating their rates of decrease.

On Thursday, as part of theBerlin Blockchain Week, nine of the Polkadot ecosystem’s top projects gathered to host a conference andnon-fungibletoken (NFT) gallery. The event will feature some of the top artists to have minted NFTs on Polkadot and Kusama.

Dolce & Gabbana Sued for Messing Up Delivery of Its NFTs: Bloomberg
Donald Trump Received $5 Million In Crypto Donations — But Not For His Election Campaign
NFT sales are dropping but believers still see a future for digital collectibles

DOT

DOT has been decreasing underneath a descending parallel channel since reaching an all-time high price of $55.09 in Nov. 2021. The downward movement led to a low of $6 in July. Afterward, the ensuing bounce validated the $6.60 horizontal area as support (green icon).

Despite the bounce, DOT has returned to the support area once more. Additionally, it is at risk of falling below the middle of the parallel channel.

So, the price may break down. This possibility is supported by the weeklyRSI, which is below 50 and consistently decreasing.

The daily chart shows that DOT has been falling underneath a descending resistance line since the beginning of May. It was rejected by the resistance line on Aug. 12 and has been falling since.

Additionally, DOT decreased below the $7.70 horizontal area, which has now been validated as resistance (red icon). Finally, the daily RSI has now moved below 50.

Therefore, due to these bearish readings, a breakdown from the previously outlined horizontal support area seems to be the most likely scenario. A breakout from the descending resistance line would invalidate this possibility and suggest that an upward movement is forthcoming.

At present, this seems unlikely.

KSM

Similar to DOT, KSM is barely holding on above its yearly lows at $46. So far, the area has been tested four times. Since horizontal levels get weaker each time they are touched, an eventual breakdown from this area would be expected.

Furthermore, the daily RSI has broken down from the 50 line and validated it as resistance, supporting the possibility of a breakdown.

If a breakdown occurs, the closest support levels would be at $36.10 and $27.05, respectively. These are found by the 1.27 and 1.61 Fib retracement levels of the preceding upward movement.

Arts

https://beincrypto.com/polkadot-dot-and-kusama-ksm-face-price-crash-as-nft-event-starts/

Interesting NFTs
Mistletoe #880
Ciao! I'm Mistletoe #880. In high school, I was voted most likely to work at NASA. I put pickles on everything. Like, everything: hot dogs, chocolate—everything! Will you be the peanut butter to my garlic butter?
Tactical Cats
Tactical Cats Practical cats, dramatical cats.. Experience the lighthearted inner smile when you are purrfectly purrrple. The cat's meow of pick-me-up paints with swirling tails of joy as vivid as the swirling magentas, blues and purple. I was able to with this work quietly paint a tribute to memories of meeting fans and revisiting "old friends" within the paint itself. All while pretending to paint a version of catwoman for the audience. More on that in bonus material. This is an alternate animation made specifically for crypto art collectors. This NFT depicts the rare, unused in media: verified image. Mixed Media: Bio/Digital. Glycerin on 5'9" human skin 10-14 hours Performance art. Shot on Canon EOS RP. 16 + hours Photoshop and DaVinci Resolve. All Works are SFW. Art has been Seen on the front page of Reddit, Featured in the New York Times, Galileo.tv, and multiple other promotions including Twitch.tv, Disney Interactive, RIOT games, WB games, AMD and more! More on how this art is unique and potentially explosive in the NFT world: https://youtu.be/CXbNF2Y6srs ------------------------- The purchase of this NFT Grants the buyer unique bonus material. Physical mail Bonus Package: A Physical Art Print. Autographed from the Artist in 12x16. Please allow a few weeks for Delivery. Digital Bonus Package: This image in .mp4. An "About the Art" Video and an "From the Artist" introduction. A README.txt about the artwork with some personal notes and Links relevant to the artwork.
The Damage #1/25
What's the damage?
David vs the Virus
"An ode to the year everything changed" - Frank Wilder The story of the underdog is a reoccurring theme throughout history, and perhaps the most famous example is that of David vs Goliath. A tale about perseverance, in which David takes on and defeats the giant warrior using only his smarts and a stone. Famously depicted by Michelangelo's David statue. Fast forward to the present day in 2020 and we as humanity are faced with our own Goliath. An uncontrollable pandemic spread around the globe. Now with the entire planet being affected by this we understand the gravity of the situation at hand, whether it be a virus we’re fighting or other forces at play, there is indeed an energy out to shift the balance of the Universe… Regardless of our differences, in this moment must unite as one. With diligence, trust and belief we as a whole can come together to triumph against "the enemy". Stay vigilant my friends. Original score created by the one and only Phoenix Wilder.
Reflection
#XCOPY #GIF #screen #time #mirror