KSM was on fire after the announcement that parachain auctions were starting. A natural correction of the overhype has been in play for the last 12 hours, also dragged down by BTC pulling back to 36k. BTC is on the rise again but KSM has broken out of its downward channel, coming back to test the top of it and not potentially breaking out to the upside. On the 15 minute chart there could be a good scalping opportunity here given BTC has continued in the upward direction while KSM came back to test the top of the channel.
Comment
⋅
The target is around the weekly R2, closing at $521.