Keep3rV1 Analysis: Accumulation above Support, Target $200? – Bittime

Bittime – The latest update on KP3R (Keep3rV1) which discusses how Keep3rV1 managed to break out of a long-term downtrend and struggle to overcome other downtrend line resistance as well as the large resistance posed by the Ichimoku cloud. Here are the latest price movements and their technical analysis by crypto watcher moon333.

Trend Breaks and Resistance Levels

After successfully breaking out of the long-term downtrend, Keep3rV1 price was rejected by another long-term downtrend resistance line and Ichimoku cloud resistance, which ranges from $120 to $134 (approximately IDR 1,929,600 to IDR 2,152,040).

Despite a temporary breakout, the price encountered significant resistance and fell again, breaking through the support of the Ichimoku cloud which now serves as resistance.

Current Market Analysis

By checking the live chart, we see that after the breakout, Keep3rV1 price was rejected by the long-term downtrend resistance line and Ichimoku cloud resistance zone. Initially, the price rose above $120 (around Rp. 1,929,600) but failed to maintain its upward movement and fell back below the Ichimoku cloud support.

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Latest Trading Signals and Their Performance

On May 17, 2024, the analyst shared a trading signal for Keep3rV1 based on the Gartley harmonic bullish reversal pattern on the 4-hour time chart against the US Dollar.

Trading setup includes specific buy zones, sell targets, and stop losses.

The price initiated a strong reversal from the buy zone, reached the sell target and reached an 18% gain. The move is still ongoing, holding above a potential reversal zone.

Long Term Weekly Chart Analysis

Looking at the weekly time frame, since May 2022, Keep3rV1 has been trading within a long-term downtrend channel.

In November 2022, it managed to break out of this channel, but despite several attempts, it was unable to cross the downtrend resistance line.

This resistance repeatedly halted the upward movement, causing rejection at around $120 to $134 (around IDR 1,929,600 to IDR 2,152,040).

Support and Accumulation Zones

Currently, Keep3rV1 is accumulating above the $65 support level (around IDR 1,043,900), which previously served as support and resistance.

This accumulation phase is very important because the price consolidates above the resistance of the previous channel, which now serves as support.

If the price falls slightly, it may retest the resistance of the previous channel, which has now become a support level.

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KP3R (Keep3rV1) Price Target in the Future

To continue the rally, Keep3rV1 must break through the $120 to $134 resistance zone (approximately IDR 1,929,600 to IDR 2,152,0401) and the descending trend line resistance.

If successful, the next big target for this breakout lies between $180 to $200 (approximately IDR 2,894,400 to IDR 3,212,000), the top of the previous downtrend channel.

Conclusion

In conclusion, Keep3rV1 price movement reflects a struggle to break a key resistance level despite temporary success. The current accumulation phase above $65 (around IDR 1,043,900) is the tipping point. If this resistance level can be crossed, a significant upward move towards $180 to $200 (approximately IDR 2,894,400 to IDR 3,212,000) is possible.

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