Kusama has been quite interesting lately - after a rapid pump, it has started to pull back, and the current trading price is around 7.21. However, from a technical perspective, the situation is a bit subtle. The price is currently stuck below the short-term moving average (7-hour MA around 7.48), but there is support from the 25-hour and 99-hour moving averages above (at 7.17 and 6.94, respectively). This proximity of multiple moving averages typically indicates that long positions still have some strength, but it's not particularly strong.

To truly open up the upward space, the key is whether it can stabilize in the 7.5-7.8 range. This is not only where the short-term moving averages are located but also a clear technical resistance. If it can cleanly break through here, then the next target area of 8.0-8.3 becomes reasonable (the recent high is close to 8.29, so this expectation is still based on evidence).

Conversely, if there is a pullback, the first support is around 7.0-6.8, but to truly feel secure, we need to see if 6.40 can hold — that is the key foundation for this wave of movement.

It is worth noting that the trading volume significantly increased during the previous rapid pump, but then it shrank. This indicates that to continue moving upwards, new buying pressure must come in, and a clear breakout of the short-term moving averages is required. Relying solely on inertia makes it difficult to sustain.