KOMODO Price Prediction: Long-term (KMD) Value Forecast – July 8

  • 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.

Komodo:

Live Komodo (KMD) Price:

1 KMD/USD =$0.5551 change ~ 0.57%

Coin Market Cap

$67.61 Million

24 Hour Volume

$1.74 Million

24 Hour VWAP

$1

24 Hour Change

$0.0032

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Avatar
Azeez Mustapha
Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager - as well as an author.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,483FansLike
2,795FollowersFollow
4,263FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Stocks & Gold Getting Hammered But Bitcoin Fundamentals Do Not Support A BTC Crash to $7k

In another red day of the week, Bitcoin dropped to about $10,150 level. Just like the weak price performance, with BTC currently trading around...

People's Bank of China (PBoC) Testing Digital Yuan (DCEP) for Credit Card Payments

China has been aggressively developing its central bank-issued digital currency (CBDC), popularly known as digital yuan. As per the latest reports, the People's Bank...

Indian Crypto Exchange, Pluto, Pulls An Exit Scam on Investors; Making Off With $270K

A Delhi-based crypto exchange, Pluto, has allegedly exit scammed and stolen about $270,000 worth from 43 investors. The local reports suggested that the Economic...

Bitcoin Mining Legalized in Venezuela But Being Centralized with National Digital Mining Pool

Venezuela has fully legalized bitcoin mining. According to a recent decree from the National Superintendency of Crypto Assets and Related Activities (SUNACRIP), the use,...

China Blacklists Crypto OTC Trading Desks With A Five-Year Banking Ban As Punishment For Illegal Acts

PBoC blacklists crypto OTC traders in its latest efforts to crack down on money laundering. This has caused several OTC trading desks to...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today