- The 50-day SMA trading indicator depicts that the KMD/USD market's uptrend outlook hasn't lost out completely.
- The current downward trend in the KMD/USD market may potentially turn out being a correction afterward.
KMD/USD Medium-term Trend – Bullish
- Resistance levels: $2, $2.20, $2.40
- Support levels: $1.20, $1, $0.80
In spite of the current notable drop in the valuation of KMD/USD market, the relative uptrend that initially being hasn’t been totally erased. In the medium-term run of the crypto-market, the trading SMA indicator also signifies it as it still points to the north. The market has only fallen towards it from a high value found around $1.90 mark.
The Bollinger Bands are located over the 50-day SMA. Price has now been trading around $1.60 mark near the trend-lines of both the Bollinger Lower Band and the SMA trading indicator. The Stochastic Oscillators have dipped into the oversold zone.
The KMD/USD market may soon start to consolidate around $1.60 and $1.40 price levels. After a while, the bulls will most likely rally around those trading zones to re-launch a come-back.
KMD/USD Short-term Trend – Bearish
The short-term run of the KMD/USD market has been on a notable decrease today. The falling spree has been along the downward trending line of the Bollinger Lower Band. Yesterday, the market moved firstly in a bullish trend, but towards the end of the trading, operations got a drop to briefly break down the SMA indicator from the top. Now, the market has continued to drop further.
All the trading indicators now briefly point to the south. The 50-day SMA is located at $1.70 mark over the Bollinger Middle Band. The Stochastic Oscillators have penetrated into the oversold to consolidate within it. That depicts the intensity of the bearish trend of the crypto-market.
The value of the KMD/USD market may continue to decrease unabated, especially while the market makes only a retest of the trend-line of the Bollinger Middle Band below the $1.70 mark. The bears’ forces may come to an end at the emergence of bullish candlestick around the Bollinger Lower Band trend-line.
Live Komodo (KMD) Price:
1 KMD/USD =$0.5551 change ~ 0.57%
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