the KIMBO crypto asset is displaying strong bearishness
The KIMBO crypto price structure shows a struggling match between bulls and bears, both are thriving to take momentum in their favor.
The chart highlights that earlier price was in an uptrend and showed momentum in bull favor from the demand zone at $0.00005300, and breached in-between resistance one by one, which are $0.00028500, $0.00049000, and finally reached upto supply region at $0.00069750.
However, the KIMBO crypto demonstrated a decline from the supply of around $0.00069750 on the chart. The current price structure scenario highlights that the KIMBO USDT is almost at a big fall, as it already met the resistance level and started nosediving. Also, the KIMBO asset is displaying bearishness and a falling tendency as it plunges below the major trend 20-day EMA band and gradually approaches to cut the 50-day EMA from above, reliant on the sellers' surge more lower level could be reached in the coming sessions.
Similarly, the KIMBO crypto asset is displaying strong bearish characteristics as MACD shows a strong bearish cross at 0.00004295 with a histogram declining downwards at -0.00002860. Likewise, the RSI is falling smoothly by taking rejection from 14-SMA and is currently at 48.86 and 14-SMA is at 58.15, implying that the KIMBO asset is losing momentum and can achieve new depths in the coming sessions.
The KIMBO asset is expressing bearish behavior and exhibits that it has the opportunity to fall further, as it has attained bad performance in the last week by -18.93%, which is implying a start of a stable downward. Moreover, if the downtrend accelerates, it will probably start to consume its earned monthly, and quarterly gains of 199.50%, and 265.05% respectively.
At press time, the intraday decline is 3.35% with the price structure in bearish mode and the KIMBO price is currently at $0.00042866. Therefore, if the price action turns more aggressive on the bear side, the bears will win the momentum in their favor, and the support line would be $0.00035000, breaking this would lead to the last line of defense at $0.00028500.
However, the scenario could flip if the buyers turn the match in their favor. The KIMBO price could fly higher towards a higher level around $0.00069750, and $0.00075000, and this fall will become a short-term decline.