#KSM the native cryptocurrency of the Kusama network, has recently broken out of a falling wedge pattern. The current market sentiment suggests that KSM is likely to retest the pattern before continuing its upward trajectory. It is crucial for KSM to hold the $24 support level during this retest.
As per recent market observations, you can consider opening a small long position in KSM at the current price level. However, make sure to keep a tight stop loss in place to minimize potential losses.
If KSM manages to hold the $24 support level, the next resistance level to watch out for is the $28.30-$29 range. This resistance level has proven to be a strong barrier for KSM in the past. If KSM breaks through this resistance level, it could signify a significant bullish trend reversal for the cryptocurrency.
