Kimbo Crypto Price Degraded A Lot; Can It Show Resurgence Next?The Kimbo crypto made a sharp drop after a breakdown of the 50 day exponential moving average.
At the time of writing, the crypto was up nearly 1.83% and was trading close to 0.00024.
The Kimbo crypto price is trading modestly higher in Intraday on Monday and has surged nearly 1.83%. At the time of writing, the crypto was trading close to $0.00024. The bulls gained the ground on Sunday after a three day free fall and have successfully defended the lows in the first half of today’s session.
Earlier, the crypto noted a sharp fall from the highs and dropped lower breaking below the key EMAs of 20 and 50 days. However, the previous breakout zone acted as a support and the bulls managed to find grounds.
A sharp selloff has been observed in the recent sessions which may resume again if KIMBO crypto makes a breakdown below the recent support. It may validate a trend continuation and the price may continue to erode more.
However, the bulls need to establish their presence at the lows in order to regain control of the trend. The correction phase may end if the price is able to break above the dynamic EMAs of 20 and 50 days.
Kimbo Crypto Volatility Analysis
The above chart exhibits a contrast between the volatility with the price movement in the KIMBO cryptocurrency. The volatility illustrates the fluctuation in the price. It might be due to sudden rise or drop in volume inflow or any news.
As per the chart, the volatility of KIMBO crypto jumped higher in the 1st two weeks of March and dropped back in the later weeks of March. In April the volatility was low in the last couple of weeks and the price noted slow movement in the period. However, the price fell sharply in the last one week which has again taken the volatility to higher values.
Social Users Dropped In The Recent Sessions!
The Social dominance and social volume data indicates the current shift in the behavior of the social users. Various social media platforms like twitter, telegram, Instagram and others help create awareness about a particular cryptocurrency.
A high number of social media users indicates a strong community base. As per the chart, the social dominance and social volume curve was on the hiser levels in March. However, it has dropped in April suggesting a negative growth in the number of users.
Technical Indicators Imply a Weak Outlook!
From a technical point of view, the KIMBO price has broken below the 20 and 50 day exponential moving average suggesting a negative outlook in the short term. The key EMAs may act as a resistance and the price may suffer more if it retraces it.
At the time of writing, the MACD line and signal both have dropped below the zero line indicating a negative outlook. The histogram bars are being formed below the zero line but of decreasing height indicates the price may take a pause at the moment.
Kimbo Crypto Price Prediction April 2024
The Kimbo price prediction for April 2024 shows that the crypto may advance to a high of $0.00049 if buyers are able to hold the price above the 20 day exponential moving average. Whereas, the less optimistic analysts estimate a price target of $0.000090 on the lower side after the breakdown below $0.00019.
Conclusion.
Kimbo crypto is experiencing a modest recovery in Intraday today after a sharp fall in the last few sessions. the price trades around $0.00024 after an increment of 1.83% in intraday. Following a significant drop, it's now above key support levels, suggesting potential trend continuation if it breaks down further.
The Bulls are trying to reclaim the trend, aiming to surpass the 20 and 50-day EMAs. The MACD indicators point to a negative short-term outlook, with decreasing volatility hinting at a possible pause in price movement. Overall, volatility has been inconsistent, with a recent spike due to a sharp price drop in the recent sessions.
Technical levels:
Support levels: $0.00019 and $0.000090
Resistance levels: $0.00037 and $0.00049
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
