Polkastarter and Serum are inching higher, albeit within tight ranges. POLS/USDT may reach $1.5, while SRM/USDT could likely break $4 in upcoming sessions.
The Polkadot-based launching pad allows projects to raise funds in a decentralized manner. It supports auctions and pools using POLS for governance.
As crypto prices reverse after deep slumps in the past three months-, there are hints of POLS support in the daily chart.
As of writing, POLS is up five percent against the USD, bouncing from the June 2021 lows of around $0.85.
POLS/USDT prices range within a $0.65 zone between $1.5 on the upper end and $0.85 on the lower end.
Despite weakness and lagging POLS response, buyers stand a charge to trudge higher, building on recent gains towards $1.5 even if it appears to be a long shot.
Buyers have followed through with gains of July 21, printing higher.
There were hints of resistance on July 28, providing an opportunity for POLS buyers to load the dips, targeting $1.5.
Extended losses below July 27 lows pours cold water on the uptrend.
In that case, POLS/USDT could crumble, dropping to $0.85 in a bear trend continuation pattern.
The swapping platform brings the convenience of CEXes in a permissionless and trustless Solana environment using SRM as the primary token.
There are series of higher highs as visible in the daily chart, adding credence to the uptrend.
Still, the upswing is with relatively low momentum, unlike the performance of other high-value crypto tokens. SRM prices are now up four percent versus USD on the last trading day.
The lift-off is encouraging. As positive as it may, gains are narrow and bars with tight ranges.
Provided they close higher, buyers expect a retest of $4 in the short term.
This will form a basis for a possible breakout towards $6.5.
Buyers are in the driving seat.
As such, every low may offer a loading opportunity for SRM buyers aiming at $4 in the days ahead. A close above this resistance level would release more buyers who have their sights set at $6.5 or better.
A dump below $2.5, on the other hand, cancels the uptrend, yanking price action back in favor of bears.