• KOMODO price worth still seems struggling in a range to outweigh the US dollar price valuation.
•  If price breaks down the 50-day SMA indicator to the south, then, the bears could find a decent stance in the market.

KMD/USD Medium-term Trend: Ranging

• Distribution territories: $1.80, $1.90, $2
• Accumulation territories: $1.50, $1.40, $1.30

There has been a kind of choppy moving price settings in the market of KMD/USD in the medium-term run. Price territories around $1.70 and $1.60 marks have been the zones of the market’s ranging trend.

The Bollinger Bands still appear bending towards the north-east direction. The 50-day SMA trading indicator has been located to keep a tight move around the Bollinger Lower Band. The Stochastic Oscillators have bent to slowly point north across range 60.

The current range market’s formation patterns have only been featuring higher lows and higher highs around the range zones. And, that settings may in the medium-run favor the buyers especially while the 50-day SMA remains unbroken southwards past the immediate accumulation price territory at $1.50 mark.

KMD/USD Short-term Trend: Bullish

The short-term trend of the KMD/USD market has been on a relative increase today. The increase has been following the path of the Bollinger Upper Band to the north in a slow and steady moving mote. Both the Bollinger Middle Band and the 50-day SMA are located closely below the upswing-trending point of the market as at the time of writing. The Stochastic Oscillators now consolidate around range 40.

While the current market’s trend doesn’t see any bearish candlestick to engulf a sizable line of the uppermost bullish candlesticks being formed currently in the market, the bulls may continue with slow and steady pushing the crypto’s price line northward further.

Komodo:

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