There are 2 possible scenarios for Kusama ($KSM) that could play out:
1) KSM has formed a Head and Shoulders pattern on the daily timeframe. A confirmation of this would be a breakdown below the neckline level of ~$290. This would mean KSM would slump further. Note: The head and shoulders pattern on the OBV has already played out.
2) KSM could find support around the current level of ~$300. This, coupled with a reversal and a break of the OBV S/R level of ~3.25M could propel KSM to its former highs of ~$530 based on past patterns beginning in early March 2021. If this happens, price is expected to move according to the yellow squiggly line. This may give a possible return of 60%+.
Please note that this is not financial advice but merely an idea.
Twitter: @TraderLH
1) KSM has formed a Head and Shoulders pattern on the daily timeframe. A confirmation of this would be a breakdown below the neckline level of ~$290. This would mean KSM would slump further. Note: The head and shoulders pattern on the OBV has already played out.
2) KSM could find support around the current level of ~$300. This, coupled with a reversal and a break of the OBV S/R level of ~3.25M could propel KSM to its former highs of ~$530 based on past patterns beginning in early March 2021. If this happens, price is expected to move according to the yellow squiggly line. This may give a possible return of 60%+.
Please note that this is not financial advice but merely an idea.
Twitter: @TraderLH
$KSM #KSM #Kusama #KSMUSDT #KSMUSD
Twitter: @TraderLH