Komodo Rush Is About To Start?The overall trend of Komodo remains upwards since it doesn't stop producing higher highs and higher lows. While the trend is bullish the support was formed at $1.5, which has been rejected for a number of times. Since then KMD/USD has shown new higher highs two times not to mention it stays above the 200 Moving Average.
Fibonacci retracement applied to the latest trendline breakout shows that Komodo also found the resistance at 227.2% level, that is $3.26, which has been rejected. Currently, a correction is taking place and could send Komodo back to one of the support levels, either $2.3 or even $1.5.
However, if it manages to break and close above the resistance the upside momentum should continue sending it as high as $7. At this price, three Fibonacci levels meet with each other. 227.2% Fibs applied to the highest high. 927.2% applied to a corrective wave after the first trendline break, and finally 727.2% applied to the corrective wave after the second trendline breakout. The bullish outlook should be canceled if Komodo will close below the $1.5 support.
KMDUSD trade ideas
Short Komodo !!!, Price is hovering around the supply zoneShort Komodo !!!, Price is hovering around the supply zone for sometime. Arc is perfectly fitted feels like it will form a Cup and handle. Half of the cup is done, remaining has to be done.
Break above the Supply zone makes this trade void.
Trade based on your risk appetite. Always have your own sl.
KOMODO, enough accumulation, and then surge?white line area could be strong support line in the near future if price goes up more.
target 1 : getting to basecamp
target 2 : x5 from basecamp
target 3 : x10 from basecamp
KMDBTC - If $2.80-.90s hold then it will go back up towards ATH$4.00 expected if it breaks resistance and then anything past that price is open for conversation
Komodo Finding SupportKomodo had a large selloff after its announced partnership with Monaize. The dump appears to have caesed for the time being, support has been established at the 0.5 level. May be a buying opportunity for those whom have not entered. Keep an eye on this one
Watch trendlines and 1.0 supportRally will continue and reach 1.618 level if KMD gets support at 1.0. watch for platform announcements and volume.
