KSM or Kusama has done a rare chart that I have not seen in a while. It's been moving up on this support line since March 2020! Any buy when the price touched the support line was an instant profit, EVERY TIME. I count at least 12 times.
So for how long can this momentum last? I believe we still have fuel in the tank that can propel us to $150 and once pass that $400 is in reach. The indicators + volume also look good to me.
This idea will be invalidated as soon as we drop under the support line and we re-test it as resistance. That will also signal that this bull run is over and we're due for a significant correction.
For now we may also face some resistance represented by middle line in this ascending channel which is also close to the $150 value.
As such, watch the price action, because if we happen to fall to support, that may give us a great buy opportunity.
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So for how long can this momentum last? I believe we still have fuel in the tank that can propel us to $150 and once pass that $400 is in reach. The indicators + volume also look good to me.
This idea will be invalidated as soon as we drop under the support line and we re-test it as resistance. That will also signal that this bull run is over and we're due for a significant correction.
For now we may also face some resistance represented by middle line in this ascending channel which is also close to the $150 value.
As such, watch the price action, because if we happen to fall to support, that may give us a great buy opportunity.
Like and follow if you liked this idea!
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📣 Find more Alpha by joining Your Crypto Community:
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🔹 Real trades & wins explained
🔹 Trading ideas, crypto trends & alpha
Likes and follows appreciated! 🚀
🔹 Over 10,000 members!
🔹 Real trades & wins explained
🔹 Trading ideas, crypto trends & alpha
Likes and follows appreciated! 🚀
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.