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KOMODO "KMD" Technical Analysis | 19 June 2019

2019-06-19 08:19 am | Resource: Technical Analysis Section | No Views : 55

KOMODO Komodo (KMD) During yesterday morning trading, the lower leg of the classical symmetrical triangle pattern broke as a result of sellers' pressure on it.
During yesterday's trading, the digital currency failed to breach the upper leg of a classic symmetrical triangle pattern as a result of weaker buyers' sentiment, thus falling towards $ 1.50.
KOMODO "KMD" Technical Analysis | 19 June 2019 
The digital currency of Komodo (KMD) is trading in a bearish direction on the interval of 240 minutes. This trend supports the lower rib break of the classic model and currently, the currency is retesting the break zone.
We do not recommend selling at the moment until the $ 1.46 areas are broken.

Analysis of technical indicators of the digital currency KOMODO (KMD):

The ADX indicator is not yet significant.
The simple moving average 10 and the slow moving SMA 20 are bearish and this was confirmed by a break of $ 1.54.
The momentum indicator of MACD with the usual setting is bearish but indicates a decline in the sellers' resolve.

Outlook:

It is expected that, in the case of digital currency break area of $ 1.46, Komodo (KMD) may target the area of $ 1.20.
 While in the case of the encrypted currency breach area of $ 1.71, Komodo (KMD) may target areas of $ 2.15.
Support: 1.5450- 1.3953 - 1.2043
Resistance: 1.7120 - 1.8420 - 2.1569
Trend: SideWay

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