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- 1 KEY crypto chart shows consolidation in a narrow range.
- 2 Bears have regained strength and are trying to breach $0.005000.
Selfkey (KEY) crypto is hovering inside a narrow range and showed consolidation in the past few sessions. The trend is neutral but the technicals are giving bearish cues. KEY price is trading at the lower support zone of the cage and is struggling to halt the gains. Moreover, the chart showcases a triple top formation, and a throwback from the upper neckline, revealing selling pressure.
KEY price has slipped below the significant moving averages and is replicating a bearish crossover, signaling a drop for the upcoming sessions. The trend has switched from neutral to a downtrend, and the Selfkey crypto started dragging the gains. Sellers are keen to force the cryptocurrency toward $0.004500, the demand zone shortly.
This cryptocurrency trades at $0.005272 at press time, with an intraday gain of 1.30%, showing selling pressure. Moreover, the trading volume increased by 7.21% to $3.34 Million, highlighting a bearish bias. The pair of KEY/BTC was noted at 0.000000126 BTC, while the market cap is $13.03 Million. Analysts are neutral and suggest that the Selfkey crypto will continue to face range-bound moves and may soon retest the demand zone of $0.004500.
KEY on Daily Chart Reflects Consolidation
On the daily chart, the KEY crypto price has been hovering within $0.005000 – $0.006800 which is ideally a no-trade zone for the investors. KEY crypto persisted in spending time there exhibiting the roller coaster moves.
The Relative Strength Index (RSI) curve stayed below the midline and showed a negative divergence, reflecting underperformance. The Moving Average Convergence Divergence (MACD) indicator shows a bearish crossover and suggests a negative outlook for the upcoming sessions.
Will KEY Retest its Demand Zone of $0.004500?
On the weekly chart, Selfkey crypto has retested its gap region but cannot overtake the 20-Day EMA hurdle and is hovering near it. The price action describes the neutral cues, and the indecisiveness between the bulls and bears was witnessed for the past sessions. Per the Fib levels, KEY crypto trades below the 38.2% zone and is close to the 23.6% zone, delivering a negative outlook.
Summary
Selfkey (KEY) crypto delivers range-bound moves and a bearish outlook, struggling to hold the gains near $0.005200. Meanwhile, the sellers are getting ready to throw the crypto price below the support zone of $0.005000 and are waiting to showcase their strength.
Technical Levels
Support Levels: $0.005000 and $0.004700
Resistance Levels: $0.005400 and $0.005800
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.
