KAS had fallen below the golden pocket and tested the (thick orange) 200 daily SMA, but failed on the 8Mar. It had since remained below the 78.6% Fib retrace lvl after an attempt to retest the 200 SMA again on the 22Mar.
I had been slowly accumulating more KAS below the 78.6% Fib lvl and have now doubled my KAS holdings; after having stopped DCAing into KAS after it had previously pierced above 0.05USD (see the previous 5Nov2023 chart analysis tag).
It remained below the 78.6% Fib lvl until 25May, where it first held support, finally, above the red 21 daily EMA (setting a second higher low). It subsequently retested the 78.6% Fib lvl again on the 28May and eventually bounced off the 21 EMA to successfully pierced above the 78.6% Fib lvl as the resistance line on the 2Jun.
If the following daily candles continues to hold above the 78.6% Fib, the next level to look out for is the orange 200 SMA line, still lingering just below the golden pocket.
If KAS is able to pierce above the 200 SMA into the golden pocket, this will set up KAS to retest the 0.5% Fib level, which if successful, it would then very likely continue to pierce above the relatively much weaker 38.2% and 23.6% Fib resistance levels for another revisit of the ATH and to hopefully set a new ATH for a blue sky breakout.
I had been slowly accumulating more KAS below the 78.6% Fib lvl and have now doubled my KAS holdings; after having stopped DCAing into KAS after it had previously pierced above 0.05USD (see the previous 5Nov2023 chart analysis tag).
It remained below the 78.6% Fib lvl until 25May, where it first held support, finally, above the red 21 daily EMA (setting a second higher low). It subsequently retested the 78.6% Fib lvl again on the 28May and eventually bounced off the 21 EMA to successfully pierced above the 78.6% Fib lvl as the resistance line on the 2Jun.
If the following daily candles continues to hold above the 78.6% Fib, the next level to look out for is the orange 200 SMA line, still lingering just below the golden pocket.
If KAS is able to pierce above the 200 SMA into the golden pocket, this will set up KAS to retest the 0.5% Fib level, which if successful, it would then very likely continue to pierce above the relatively much weaker 38.2% and 23.6% Fib resistance levels for another revisit of the ATH and to hopefully set a new ATH for a blue sky breakout.
Note
Also note above that the "bearish" Ichicloud that had been acting as resistance is now finally thinning out on the daily.Note
KAS-USD Daily Chart: Bounced off the green 50 SMA with ichicloud having already turned bullish which will act as support. Presently waiting for latest daily candle to close above the red 21 EMA. FG-Oscillator histogram turned back green again. Likely to revisit ATH again, and blue skies ahead for another parabolic leg-up if KAS successfully finds support above ATH above the green zone.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.