Komodo Price Prediction Today: Daily (KMD) Value Forecast – July 3
- The KMD market reached a high of $1.700 and commenced a range bound move below the price level.
- The KMD price was resisted at the $1.700 and the market was on a downward correction to a low at $1.100.
KMD/USD Medium-term Trend: Bullish
- Resistance Levels: $1.70, $1.80 ¸ $1.90
- Support levels: $1.50, $1.40, $1.30
Yesterday, July 2, the price of Komodo was in a bullish trend. The KMD market reached a high of $1.700 and commenced a range bound move below the price level. The crypto’s price is retracing from the recent high. The KMD price was resisted at the $1.700 and the market was on a downward correction to a low at $1.100. On the upside, if the price had been sustained above the EMAs, the crypto will continue its upward movement.
From the Fibonacci retracement tool, the crypto’s price broke the 0.236 and 0.382 Fib. retracement levels. These are the continuation zones of the Fibonacci tool. The price also broke the downtrend zones of Fib. retracement levels. The price of Komodo has been reversed. Meanwhile, the price is in the overbought region of the daily stochastic but below the 60% range. This indicates that price is a in bearish momentum and a sell signal.
KMD/USD Short-term Trend: Ranging
On the 1-hour chart, the KMD price is in a sideways trend. The crypto’s price is fluctuating below and above the EMAs in a tight range. The 12-day EMA and the 26-day EMA are sloping horizontally indicating that price is in a sideways trend.
However, the bearish pressure continues as the price fell into the range bound zone. The MACD line and the signal line are above the zero line which indicates a buy signal.
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