🚨 Hot Sell Signal for Kusama! 🚀 Unmissable In-depth Technical Analysis of KSM🔍

✨Introduction: Kusama (KSM), after a massive 50% drop, is now trading within a daily price box. A breakout from this range could trigger a strong sell signal. Additionally, with Bitcoin’s recent decline and its rising dominance, altcoins, including Kusama, are showing increased weakness, making further drops likely.

🎃Daily Time Frame:

In the daily timeframe, we observe a primary downtrend for Kusama. As the saying goes, ‘trade with the trend,’ it’s advisable to open short positions in line with this downward trend. In the secondary trend, we see a price box with significant support at $26.98 and resistance at $33.30. A breakout from either of these levels could signal an entry point.

However, given Kusama’s past bearish trend and the overall market trend influenced by Bitcoin and other cryptocurrencies, a further decline is more likely, making short positions potentially lower risk. If the price consolidates around the $26.98 support area, we should wait for the SMA7 to catch up and continue its movement.

Additionally, it’s important to note that there is often a lot of liquidity below the box, which, when liquidated, can lead to sharp price movements.

⚡Four-Hour Time Frame:

In the 4-hour timeframe, the price box observed in the daily chart is more pronounced. A break below the $26.98 level and consolidation beneath it could provide a strong sell signal. It’s worth mentioning that yesterday we saw a significant bearish whale candle. Typically, after such candles, we experience a time or price correction on the chart, which has indeed occurred subsequently.

Additionally, volume is increasing, indicating a rise in open interest and the proximity of a substantial move.

Additionally, a break below the 28.00 level on the RSI can serve as confirmation of increasing momentum and the likelihood of a stronger move

🔻 Key Support Levels:
26.98 , 23.92, 20.30

🔺 Key Resistance Levels:
33.30 , 41.04, 44.49

— -
Last Analysis
“For more updates and access to additional analyses, follow us on Telegram and Twitter.”
Telegram
Twitter
— -

Don’t miss out on potential profits! Like, follow, and stay tuned for more valuable insights and signals! 🚀💰