Market & Ticker: KUSAMA - KSM/USDC

Date: 29/11/2024

Horizon / Timing:  Tactical Mid-term / 1 to 3 months

Scenario: 

KSM has been trading in bearish trend since January 2024 before engaging a sideways on key bottom area. The prior sideways configuration was accumulating momentum for a potential bullish exit in line with the global crypto market configuration. The upside breakout has been confirmed.  We are focusing on 54 resistances for further direct recovery before confirming a larger upside towards 78.90 for the coming weeks.

Technical Key Elements:

• Auto similar move target 54.00
• RSI indicator is positive – No Divergence 
• The Moving average are support at 30.00
• Fibonacci key support is adjusted at 30.00 while the Elliot wave shows upside potential towards 78.90

Trade Idea conclusion: (Buy)

• Target 2: 78.90
• Target 1 = Confirmation : 54.00
• Buy: add in dip area 41
• Stop: 30.00 (Daily close)

Chart: Daily Basis (Candle Stick) - Logarithmic 

Indicators: Exponential Moving Average (21/34/89) - RSI (21)

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