- KMD/USD pair has moved in ranges of between $1.60 and $1.40 price lines with several failing attempts to move past the SMA indicator.
- The KMD/USD is now moving southwards to find a foundation towards a low trading point at $1.20 mark.
KMD/USD Medium-term Trend – Bearish
- Resistance levels: $1.80, $2, $2.20
- Support levels: $1, $0.80, $0.60
KOMODO has been very tightly pressed down by the US dollar from close range spots of the crypto-market. Lately, the pair was moving in ranges of between $1.60 and $1.40 price lines with several failing attempts to move past the SMA indicator trend-line located around the $1.60 upper range mark.
The market line has now slightly moved past the $1.40 lower range spot to find a near new low value around $1.20. The 50-day SMA is situated over the Bollinger Middle Band. And, they are located a bit beyond the lower choppy line. The Stochastic Oscillators now appear like trying to cross to the south at range 40. That could mean a sign of witnessing more downs soon in the market.
The current slight downward moves in price may eventually come under further slow-moving forces of the bears. And, with that in the card, it could turn out to be a support mark for the bulls to decently build their momentum.
KMD/USD Short-term Trend – Ranging
The KMD/USD trade has only been witnessing different rises and falls around price ranges of $1.40 and $1.30 marks in the short-term run of the market today. Yesterday’s sessions also experienced similar market operations around the same range of spots. The 50-day SMA trend-line is closely located over the ranging market line. But, it’s underneath the Bollinger Upper Band. The Stochastic Oscillators now slightly point to the south at range 40.
The market seems moving southwards to find a foundation towards a low trading point at $1.20 mark. The bulls may take time to build their stance from below the present range mark at $1.30.
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