Komodo Retrieves Gradually in the Intraday; Trades at $0.65

Komodo, at the press time, was trading at $0.658 after testing supports as low as $0.55 in the previous week against the US Dollar. The hybrid currency, including Proof of Work and Proof of Stake, marked a YTD high $1.0, while the current momentum shows a negative bias in the market.

After breaching the lower Bollinger Band on the daily chart, the KMD coin is now drawing intraday positive crossover but is yet to attain a complete bullish crossover.

Komodo Price Analysis

Komodo Price News
KMD/USD Chart By TradingView

Komodo, although being intraday bullish, is far away from a complete positive crossover due to gradual pullback from the YTD high marked at $1. After Breaching the lower Bollinger Band, the KMD coin appears retrieving from the bottom hit. However, the Bollinger Bands appear moderately widening on the 24-hour chart exhibiting near-term volatility against the US Dollar.

Although the KMD coin appears intraday bullish, it is yet to reclaim the lost 50-day MA support at $0.723, while holds complete support from 200-day MA at $0.605. The MACD indicator reflects bearish divergence due to the lack of traction noted in the intraday. The RSI is seen gradually rising from the oversold region and is lying at 45.10.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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