KSM Technical Analysis: Will Bullish Break Exceed $60 This Week?

KSM technical analysis shows a reversal within the descending triangle, teasing a bullish breakout to surpass 50-day SMA and reach $60. Key Technical Points: KSM prices have increased by 13.98% in the last 24 hours. The price action shows a bullish attempt to surpass the resistance trendline. The 24-hour trading volume of Kusama is $40 Million, indicating a rise of 17%. Past Performance of KSM The KSM prices A form in descending triangle after breaking below the $60 mark with the base at the $44 support level. The descending triangle pattern follows after the prices decline to surpass $57, leading to a declining trend. However, the recent reversal starting with a morning star pattern at $44 accounts for a 16% jump in the last three days and breaches the resistance trendline. Source – Tradingview KSM Technical Analysis The KSM price chart shows an increase in bullish commitment as the buying pressure grows with a rise in trading volume. Hence the possibility of the descending triangle breakout increases. Coming back to the price action, the three white soldiers candlestick pattern displays a solid bullish trend. Three white soldiers is a bullish reversal candlestick pattern consisting of three consecutive bullish candlesticks. The MACD indicator shows the fast and slow lines avoid a bearish crossover as the buying pressure increases, evidenced by the resurfacing positive histograms. The RSI indicator shows a sharp reversal from...