Crypto Forecast | Protecting Your GAINS! Polkadot! Kusama! Cardano!
When should we expect the bottom stay tuned to find out Music good saturday morning, crypto friends, muscle decrypto back with another crypto forecast. Once again, my goal for september is 5 000. Subscribers so make sure you help me out by hitting that subscribe button. Turning the bell on for notifications dropping some likes some thumbs up and comments on the video, as they do help get my content out to more people. It manipulates that youtube algorithm in my favor. So today i have three alt coins: im gon na focus again on the polka dot and the kusama and the cardano ecosystems. Just as this market is getting a little scary, we are seeing a lot of red. We are seeing things again, literally fall off a cliff. Last weekend i did talk about this possibility or was going to on that saturday, video with uh polka, dot, kusama and and cardano, but i had some technical difficulties and one was not able to have working audio on it. Nonetheless, i threw those charts on my twitter so make sure you follow me there as well. It is linked in the description of every video, but then on sunday. I did cover that on the weekly chart, saying i was seeing some weekly rsi resistance and that played out perfectly almost to the wick. So when will we see a bottom lets step back and look at the charts so lets get started? First up, i have polka dot good old dot on the screen and it is holding up a little better than some of the other majors than bitcoin and ethereum, and it is still not looking that great though, with still high caution here, we could still dip to Lower support levels like were seeing again on bitcoin and ethereum and pretty much the rest of the majors out there.
So again, lots of red, as you can see over by my left hand, shoulder so lets, take a look at dots, technicals and it is holding support here or very much struggling to hold support here at around 29, which is which is where i have my yellow Support line here so 29 30. The price is slightly below or falling right now, as i record this, and that is at around 28.84, so slightly below that support level heading into the daily close. We could either see a a bump up a little bit of a of a dead cat bounce, but we want to hold that and especially hold it above, that 29 support level, preferably 30, as it is a nice round psychological number. But if we fail to do so or fail to react positively on the daily open, then that could be further downside. We should expect further downside when were seeing this high level of volatility, this high level of dumpiness, and it continues into the next day candle. That is particularly not very good at all, so looking at dots technicals that mas those moving averages are really starting to roll over now, as we were starting to see last week and again throughout that caution wanting to protect your guyss gains as it is also just As important as making them in the first place, looking at the rest of his technicals price is below the red 20ma or struggling to hold it, as it is right on that support level, but i dont anticipate a hold here.
If it does manage to hold, then we could potentially start to see a reversal and a climb back, of course, to the upside. But just considering how red the rest of the crypto market is, i am not anticipating any relief just yet. We might start to head lower, especially considering that these moving averages on some of the other charts like bitcoin and ethereum, are starting to cross a little bit negative. That green 10ma is starting to fall below the red 20ma. Looking down, two dots rsi is falling into bearish territory, which is the lower half of this rsi channel and right now it is right around 50.. We want it to hold within 50. At the very least, that has some support here around 45.46. If it can either bounce in one of those regions, then we should be okay, but if it starts falling, even lower lets, say sub 40, then things could get even uglier again be cautious out there and then looking over to its macd heavy red and histogram is Falling lower, which is also not very good, and we also have those macd lines heading towards the downside. So not looking good from those two indicators and we have one more the obv at the bottom, and it is also falling now fully curving over to the downside and heading or pointing down which means price should follow. That said direction so again not expecting any bit of a of a bounce.
Yet we do have lower support here, and that is around 25. So if we lose this 29 30 region expect polka dot to potentially head down here to around 25 would really like to see us hold. There get some sort of a nice bounce. Maybe start moving sideways, establish a floor here around that region and then start to recover here coming into next week, so for right now, caution so for right now: caution on polka dot. Next up, i have kusama ksm up on the big screen and it is holding up even better than polka dot. But this candle that im, seeing right now, that is about to close here in less than an hour, is starting to look like a darth maul candle. And i know that sounds funny. But if you remember darth, small, dual lightsaber holding it like this, then thats. What that candle looks like its red, you have the longer wick on either end the bottom and the top, and then a narrow or narrowing body, which makes it look like that darth maul, lightsaber and thats bearish. That is not looking very good there. We also have those moving averages, beginning to head to the downside and the price starting to fall below that green 10ma would like to see it hold that especially heading into the daily close or when the new day candle begins, but that might not happen. Luckily, we do have support here at around 348 dollars.
Maybe 350 would be better as a nice psychological number even number, and then we also have the red 20ma in about that region at around that support level at around 350.. The price right now of ksm is sitting at around 379 dollars again, would like it to hold in this upper region of the chart, but that might not happen considering how red the crypto market is at the moment, looking down to its rsi is coming down. After getting that rejection here at around 60., so again that is starting to look a little bearish, but it is looking better than most considering that rsi is still in the upper portion of that rsi channel. But considering all of the other coins are headed towards the downside and in fact lower in that rsi channel, then this could just be lagging the rest of the coins and is headed down there. Unfortunately, of course, take that into consideration and be very cautious out there. The rsi does have support here at around 50, so i i would like to see a hold here within that 50 region and not fall into the 40s. But again, like i said most other coins are now entering into that 40 region or even below that on their rsi. So we could start seeing these polka dot ecosystem coins, dot and ksm here in particular, heading down as well looking down to its macd starting to show deeper red and those macd lines are headed towards the downside.
So again were starting to get a double triple confirmation. Here that were heading or should be expecting a little bit more downside, unfortunately, looking at it at its last indicator that obv also now heading towards the downside. It does have lower support here that it carried for a while so could get a bounce there, but it is quite a ways away, so not expecting any short term support here on that obv. So for right now, considering everything that im seeing, unfortunately have to throw out another caution for ksm and my last coin for todays roundup is cardano ada up on the screen and looking quite bearish as it is below its moving averages and falling lower. Also losing this support level here at around two dollars and 52 cents lets call it 250, and now the price of ada is sitting at around two dollars and 36 cents, so its kind of in a no mans land area here does have lower support way down. Here could have some higher support here around this region, so lets call that at around two dollars so expect at least a hole there at around two dollars. Considering it is again a round psychological number. A whole number would like it to hold at the very least above two bucks, but again well, have to wait and see considering it is really looking bearish. We also have or starting to get a negative crossover on these moving averages. As you can see on my chart that the green tnma is starting to fall below the red 20ma, so again, that is not bullish.
That is bearish and bearish means expect further downside, lower prices or dropping in falling prices, at least thats the uh. The normal explanation for bearishness on a crypto or stock chart, looking down to its rsi, is falling to those lower levels. Like i was mentioning earlier, we are seeing it start to lose the 40 level on that rsi channel and has been downtrending for quite a bit. Now, for quite a number of days so again its starting to look very bearish like a freefall here, knife catching situation, so to speak. So again i wouldnt be taking any positions here. Id be waiting pretty much that is across the board. Right now is a wait and see sit on your hands. If you had positions that you did not cut earlier, then i guess right now would be the time to just hold and wait and see we could be. We could be nearing a bottom here pretty soon or we could be expecting a bit more downside when i review the weekly charts on sunday. That should be your clue as to what to expect here this coming week. Will we expect more downside across the board, or should we be expecting some stabilization and a bounce here pretty soon looking down to adas macd is coming down, unfortunately, heavy heavy red now for a number of days and those macd lines are starting to touch that histogram At least the fast line is so that is starting to look as well horribly bearish.
To be honest, looking at the obv falling off a cliff now again for a number of days did have a little bit of a bounce here, but meant to nothing a bit of a bearish retest and then now is heading even lower. So again, so again high caution on ada. That is all i have for you today on this quick saturday. Crypto forecast update in this red market when most youtubers, when most crypto influencers run and hide under the rocks under the carpet under the bed under something because they do not post many videos, or at least i do not see any out there granted. If you do, you know, muscle decrypto does so goal for september is 5 000. Subscribers help me get there by hitting that subscribe button. Turning the bell on for notifications dropping some likes some comments on the video sharing my channel with whoever might need some crypto help. Some crypto knowledge some interest in crypto doesnt matter or is willing to just hit that subscribe button. So i will be back tomorrow with the weekly chart update. I will try to cram as many charts as i can just to keep you up to date and ready for what is going to happen next in this crypto space, which right now is starting again to look slightly bearish huge retracement here. But we should start to find some support, as i peeked at those weekly charts after finishing these charts and they were starting to look okay.
We do have some support here, so we could be getting a bounce on those weekly levels, and that would mean that would mean green next week.