The Kusama (KSM) network has shown significant strength by breaking a 705-day resistance. Technical indicators suggest a potential reversal rally.
Technical Analysis and Breakout Signal
Technical indicators like RSI and MACD show growing momentum, supporting a possible breakout into the $24-$26 resistance range. Breaking out from the descending channel could lead to a significant rally, targeting $482.7.
Key Levels and Their Implications
KSM has recently tested a support zone (~$18-$20) and started breaking out of the descending channel. Resistance Level: upper boundary of the channel (~$24-$26); support level: $18-$20. RSI is recovering from oversold levels under 50, MACD shows positive signs.
Possible Development Scenarios
Bullish scenario: breaking above $24-$26 would confirm an uptrend. Bearish scenario: dropping below $18 could lead to a new downtrend.
Kusama is at a critical level. Breaking above $24-$26 will confirm a trend shift, while a drop below $18 may increase downward pressure.
