The price of KSMUSDT is currently testing the All-Time Low (ATL) around the $20 area. The ATL is the lowest price level that an asset has ever reached since its inception. This level is often considered significant as it represents a point where historical buyers might become active due to the potential for a rebound.
To potentially reverse the main trend, you've indicated that the price needs to flip the weekly resistance at the $24 area and retest it as new support. This scenario implies a potential bullish breakout where the price moves above a key resistance level and then uses it as a support level.
According to Plancton's Rules, a new long position is suggested if the price achieves this breakout and retest pattern. A long position involves buying the asset with the expectation that its price will rise, aligning with the anticipated bullish reversal of the main trend.
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Follow the Shrimp 🦐
Keep in mind.
To potentially reverse the main trend, you've indicated that the price needs to flip the weekly resistance at the $24 area and retest it as new support. This scenario implies a potential bullish breakout where the price moves above a key resistance level and then uses it as a support level.
According to Plancton's Rules, a new long position is suggested if the price achieves this breakout and retest pattern. A long position involves buying the asset with the expectation that its price will rise, aligning with the anticipated bullish reversal of the main trend.
–––––
Follow the Shrimp 🦐
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
- ⚫️ Black structure -> <= 1h structure.