- On the upside, if the price is sustained above the EMAs, the crypto will break the $1.700 overhead resistance and continue its upward move above the previous highs.
- The KMD market is on a downward corection.
KMD/USD Medium-term Trend: Bullish
- Resistance Levels: $1.70, $1.80 ¸ $1.90
- Support levels: $1.30, $1.20, $1.0
Yesterday, July 16, the price of Komodo was in a bearish trend. The price was retracing after the bulls were resisted at the $1.700 overhead resistance level. On June 10, the KMD market reached a high of $1.700 but was resisted. The KMD market was on a downward correction to a low at $1.08. At the support level, the bulls made an upward above EMAs and reached a high of $1.800 price level.
However, the bulls were resisted again as the crypto fell to a low at $1.350 price level. On the upside, if the price is sustained above the EMAs, the crypto will break the $1.700 overhead resistance and continue its upward move above the previous highs. Meanwhile, the price of is in the overbought region of the daily stochastic but below the 60% range. This indicates that price is a bearish momentum and a sell signal.
KMD/USD Short-term Trend: Bearish
On the 1-hour chart, the KMD price is in a bearish trend. The crypto’s price is fluctuating below. The 12-day EMA and the 26-day EMA are sloping southward indicating that price is in a bearish trend. However, the bearish pressure continues as the price fell into the range-bound zone. The daily stochastic is in the oversold region but above the 40% range. This implies that price is in a bullish momentum and a buy signal
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