Komodo (KMD) Technical Analysis 2021 for Crypto Traders
In Komodo (KMD) Technical Analysis 2021, we use past statistics, price analysis, RVOL, MA, and much other information about KMD to analyze the future trend of the cryptocurrency.
Komodo (KMD) is a privacy-focused decentralized cryptocurrency that promises to be safer, faster, and simpler to use by utilising its own ecosystem. The security of Bitcoin and Zcash’s privacy are said to be combined. It operates on the principle of Deferred Proof of Work.
Komodo (KMD) Current Market Status
According to CoinGecko, the KMD price is trading at $1.12 with a 24-hour trading volume of $9,534,028, at the time of writing. However, KMD has surged to 6.52% in the last 24 hours.
In addition, KMD has a circulating supply of 127,533,879 KMD coins. Currently, KMD trades in Binance, BiONE, Huobi Global, ZT, and KuCoin.
Komodo (KMD) Technical Analysis 2021
Komodo (KMD) holds the 326th position on CoinGecko right now. The recent development and upgrades might push KMD to reach new heights. Now, let’s deep dive into the KMD technical analysis 2021. The daily time frame chart of Komodo (KMD) is shown below.
An ascending triangle is a continuation pattern, which means it is important whether it occurs during an uptrend or a downtrend. Traders tend to buy or sell the asset aggressively when the price breaks out of the triangle, depending on which direction the price broke out.
Currently, KMD trades in a range of $1.12. If the price breaks the trend line resistance level of $1.24 then it will lead to a further surge up to the $1.12 Level. If the trend reverses to the down side, then it will reach the support level at $0.50.
Komodo (KMD) RSI
The below chart shows the relative strength index (RSI) of KMD.
As shown in the above chart, RSI remains at 74.33. This shows that KMD’s price is in an overbought state. This shows that traders have to trade carefully, however, major price reversal could take place.
Komodo (KMD) RVOL
The below chart shows the Relative Volume of KMD. It is an indicator that indicates to traders how the current trading volume has changed over a period of time compared to the previous trading volume.
Currently, the RVOL of KMD lies below the cutoff line which represents the weaker participants in the current trend.
Komodo (KMD) Moving Average
Komodo’s Moving Average (MA) is shown in the chart below. MA supports traders to find trends.
Currently, KMD is in a bullish state. However, KMD price is closely below 50 MA (short-term), and it is now in between 50 MA and 200 MA. Notably, KMD is now above 200 MA (long-term).
Once it moves above both 50 MA and 200 MA level, it completely goes to a bullish state. Moreover, there is a high possibility of trend reversal at any time.
Komodo (KMD) Price Comparison With Bitcoin
The below chart shows the price comparison between KMD and BTC.
From the chart, we can identify the trend of the BTC and KMD is moving at the same level as the trend. This indicates when the price of BTC increases or decreases, the price of KMD also increases or decreases respectively.
Conclusion
With the ongoing developments and upgrades that are taking place within the KMD platform. Komodo has a great future ahead in this crypto market. However, KMD can reach new heights.
Bullish KMD price prediction 2021 is $4.12. As mentioned above, it may reach great heights, however reaching $4.30 is also possible, if investors have decided that KMD is a good investment in 2021.
FAQ
Komodo (KMD) is a privacy-focused decentralized cryptocurrency that promises to be safer, faster, and simpler to use by utilising its own ecosystem.
KMD is listed on many cryptocurrency exchanges that include Binance, BiONE, Huobi Global, ZT, and KuCoin.
With the ongoing developments and upgrades within the KMD platform, it has the high possibility of reaching its ATH soon.
Disclaimer: The opinion expressed in this chart solely author’s. It is not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
The post has appeared first on thenewscrypto.com
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Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
