KSM Technical Analysis: Bullish Continuation Preps $200 Breakout

Key technical points:

Past Performance of KSM

KSM coin price sustains above the psychological barrier at $150 and has gained 12% in the last three days. The recovery rally challenges the 50-day EMA and is ready to undermine the 25% fall within a week, starting from the $200 mark with a morning star pattern. Hence, the reversal rally proposes a jump to the $200 mark.

Source-Tradingview

KSM Technical Analysis 

KSM coin price shows a reversal rally ready to complete the daily chart's inverted head and shoulder pattern. Furthermore, the rally increases the chances of a bullish breakout with a potential of reaching the $240 mark.

A cluster of EMAs(20, 50, and 100) maintains a bearish formation in the daily chart, with the 50-day EMA falling under bullish pressure. Hence, the upcoming bullish rally projects a jump to $200. 

RSI Indicator: The RSI slope shows a bullish comeback rally starting from the nearly oversold zone and approaching the 50% line. The upcoming trend also comes with the falling 14-day average with an increasing possibility of reaching the overbought territory.

MACD Indicator: The MACD and signal lines lose the downtrend momentum as they reach the zero line, increasing the possibility of a bullish crossover. Hence, the indicator projects a high probability of bullish pattern completion.

In a nutshell, the KSM technical analysis highlights the possibility of a bullish continuation to the $200 mark.

Upcoming Trend 

The KSM/USD pair grows in underlying bullishness as the buyers regain trend control near the $150 mark. The bullish recovery increases the chances of an uptrend reaching the $200 mark. Moreover, if the buyers retain trends to control, the breakout rally will surpass the $240 mark.

Support Levels: $150 and $115

Resistance Levels: $200 and $240