After reaching $61.00, the price of #KSM completed a bearish harmonic pattern and then started to decline according to the pattern. The support of $32.50-$35.70 was broken and is now considered a resistance level. The main support for now is $20.60 - $22.50.
#KSM is currently navigating within a falling wedge pattern, a formation typically seen as bullish. The price is heading towards the upper resistance of this channel, and we've noticed an accumulation phase on the 4-hour timeframe, which supports a bullish outlook.
A breakout above the wedge's upper resistance will be promising, but remember, confirmation is crucial. You need to wait for a successful retest of the breakout level to ensure it's not a false signal.
There is a major resistance between $27 - 24.5 .
A breakout above the wedge's upper resistance will be promising, but remember, confirmation is crucial. You need to wait for a successful retest of the breakout level to ensure it's not a false signal.
There is a major resistance between $27 - 24.5 .
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