KSM breaks above descending triangle resistance, ending a multi-month bearish structure and signaling a bullish market sentiment shift.
Price nears the 100-day MA at $17.40, and a close above it could confirm Kusama’s breakout and trigger a strong continuation.
Rising RSI and increasing volume support the breakout, while a low-volume gap above current levels allows room for rapid price advance.
Kusama (KSM) is indicating of a significant bullish turnaround since it has broken out of an inverted triangle formation on the dotted chart.. The move suggests renewed momentum, with key resistance levels now in sight if buying pressure continues building.
Jonathan Carter recently highlighted this breakout on Twitter, noting that KSM has pushed above the triangle resistance.He noted that a signal coming of the close above the 100-day moving average (MA 100), currently near $17.40, could then send the stock up to $21.80, $28.50 and $36.50.
https://twitter.com/JohncyCrypto/status/1946521092572500091
Momentum Builds as Price Eyes MA 100
The descending triangle had capped Kusama’s price since late 2024, forming lower highs against a flat $12.50 support. Now, breaking above this bearish structure marks a significant sentiment shift. Although KSM is down 1.72% today, it has climbed 13.03% over the past week, reflecting increased buying pressure.
Moreover, the RSI is rising toward bullish territory, and daily trading volume has slightly increased. These signs point to a strengthening move. Additionally, the Volume Profile (VRVP) reveals a low-volume zone above the current price, suggesting minimal resistance ahead. This gap could allow for swift price action if momentum holds.
Bullish Targets Within Reach
Besides, the 100-day MA is acting as a critical resistance. A close above it could confirm the breakout and invite further bullish continuation. The $21.80 zone is the first key target, followed by $28.50 and $36.50 — areas with historical supply significance.
Consequently, if bulls maintain momentum and volume continues rising, Kusama could see rapid gains. The breakout reflects a shift in market structure, favoring a potential uptrend. Hence, traders should monitor confirmation signals closely as Kusama prepares for a possible rally.
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