CryptoBriefingTA
Long

Komodo Price Analysis KMD / USD: Atomic Euphoria

BINANCE:KMDUSD   Komodo / US Dollar (calculated by TradingView)
Fundamental Analysis
Komodo spiked after the company announced the public beta phase of the AtomicDEX platform on Android. This will allow users to make atomic swaps directly from their phones. According to the project, the app is the “industry’s only mobile-native decentralized exchange built on anything-to-anything, asset-agnostic atomic swaps” and it “represents a generational change in atomic swap technology”.

Komodo / USD Short-term price analysis
Komodo has a bullish short-term bias, with the cryptocurrency trading above its key 200-period moving average on the four-hour time frame.

The four-hour time frame is showing that KMD / USD bulls are attempting to invalidate a large head and shoulders pattern, following a strong reversal from neckline support.

Technical indicators are bullish on the four-hour time frame and continue to generate a buy signal.

Pattern Watch

Traders should expect heavy technical buying if the head and shoulders pattern on the four-hour time frame is invalidated.

Relative Strength Index

The RSI indicator has turned bullish on the four-hour time frame, highlighting the growing short-term upside momentum.

MACD Indicator

The MACD indicator is bullish on the four-hour time frame and continues to generate a buy signal.

Komodo / USD Medium-term price analysis
Komodo has a bullish medium-term outlook, with the cryptocurrency trading well above its trend defining 200-day moving average.

The daily time frame is showing an extremely large inverted head and shoulders pattern, with the cryptocurrency now testing back towards the neckline its neckline.

Technical indicators across the daily time frame have turned bullish and are now issuing a buy signal.



KMD / USD Daily Chart by TradingView

Pattern Watch

Traders should note that the May 22nd 2018 swing-high remains the overall upside objective of the inverted head and shoulders pattern on the daily time frame.

Relative Strength Index

The RSI indicator has turned bullish on the daily time frame and is now issuing a buy signal.

MACD Indicator

The MACD indicator on the daily time has turned bullish , with both the MACD signal line and histogram issuing buy signals.

Conclusion
Komodo has an improving technical outlook over the medium-term, with the inverted head and shoulders pattern on the daily time frame suggesting that a strong bullish breakout is nearing.

Short-term bulls now need to invalidate the bearish pattern on the four-hour time frame to further secure the KMD / USD pair’s near-term technical outlook.
KMD looks to be heading to its lows, then zero. Looks like most coins are going to zero and only the ones that have been chosen by the big money interests will survive. Sadly, I don't think KMD will be one of the survivors.
Reply
Leave us a like as well mate and keep up the amazing work :)
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Help Center Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out