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KOMODO (KMDUSD) Price Bounces Off Resistance Level at $4.75 – Cryptovibes.com – Daily Cryptocurrency and FX News

KOMODO (KMDUSD) Price Bounces Off Resistance Level at $4.75 – Cryptovibes.com – Daily Cryptocurrency and FX News


KMDUSD Price Analysis – April 10

Should the bears increases their momentum and penetrate the support level at $3.82 level, the support levels of $3.05 and $2.33 may be tested. In case the bulls push up the price, it will be confronted by the barriers at $4.75, $5.93 and $7.0 levels.

KMD/USD Market

Key levels:

Supply levels: $4.75, $5.93, $7.0

Demand levels: $3.82, $3.05, $2.33

 

KMDUSD Long-term trend: Bullish

Komodo is bullish in the daily chart. The coin was on the ranging mode within $3.05 and $2.33 price level on March 30 to April 06. A massive and big daily bullish candle formed 0g April 07; this engulfs the previous formed candles. It breaks up the resistance levels of $3.05 and $3.93 levels. The price increases and test the resistance level of $4.75.

KMDUSD daily chart, April 10

Towards the end of last week, the coin pulls back to retest the broken level of $3.82 level. Komodo is trading above the 9 periods EMA and 21 periods EMA which indicate an increase in the bulls’ momentum. Should the bears increases their momentum and penetrate the support level at $3.82 level, the support levels of $3.05 and $2.33 may be tested. In case the bulls push up the price, it will be confronted by the barriers at $4.75, $5.93 and $7.0 levels. Meanwhile, the relative strength index period 14 is at 70 levels with the signal line pointing down to indicate sell signal.

 KMDUSD medium-term Trend: Bearish

KMD is bullish in the 4-hour time frame. The bullish trend has placed the price of Komodo at $4.75 level. The price level holds the price and further price increase is terminated. The price is currently pulling back to retest the support level at $3.82 price level.

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KMDUSD 4 hour chart, April 10

Komodo is trading in between the 9 periods EMA and 21 periods EMA. The Relative Strength Indicator period 14 is above 50 levels exhibiting a buy signal. Buying the coin at the $3.82 support level may likely come to play.



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