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- 1 The KIMBO token price witnesses range-bound moves and decisively holds the gains.
- 2 Technical indicators reveal the neutrality and suggest a possible bounce.
The Kimbo token (KIMBO) price has given range-bound moves and is sustaining gains above the key moving averages, delivering neutral cues. Moreover, the token is eyeing the upside of $0.001000 and looking to erase one of the zeros in its value. However, the bulls must cross the latest high mark of $0.0007000 to gain momentum. The recent bull run in the market led to a spike of over 120% this month, and the token has reached the bullish region.
At press time, the Kimbo token (KIMBO) price was trading at $0.0005361 with an intraday drop of 14.61%, reflecting selling pressure on the charts. It has a monthly return ratio of 266.67% and 89.51% on a yearly basis. The pair of KIMBO/BTC is at 0.00000000791 BTC, and the market cap is $36.76 million. Analysts are neutral and suggest the KIMBO token may attain a rebound and will soon retain the upside of $0.0007000.
KIMBO Price-to-Volume Profile Outlook
The above data shows the price-to-volume profile of the KIMBO token, which is consolidating in the bullish territory near $0.0005300. Recently, the token has registered a range breakout and revealed a notable bounce of over 120% in the past weeks. However, the token faces rejection near its prompt hurdle of $0.0005500, revealing consolidation on the charts. The trading volume has dropped over 36% to $8.07 million and shows low investor interest.
What Does Price Volatility Indicate?
Amidst the range-bound moves of the token, the volatility data keeps dragging and has witnessed a decline in investor interest, leading to a drop of over 110% to 0.046. The lower the volatility, the lower the risk of investors losing out on the particular asset, which led to a price consolidation move.
This month, the KIMBO token has given a range breakout and moved out of long consolidation, leading to a surge of over 120% in the past sessions. Additionally, the token has surpassed the key moving averages and has reached the bullish region. The token has delivered higher high swings and has revealed an uptrend in the last weeks.
The relative strength index (RSI) curve stayed above the midline, forming a negative divergence in the charts. However, the MACD indicator shows a convergence of the signal line and indicates a possible trend reversal in the upcoming sessions.
Per the Fib levels, the token has sustained gains above the 38.2% zone and has faced rejection from the 50% zone in the last sessions. The total supply of the KIMBO token is 69.42 billion, and the volume-to-market cap ratio is 0.218.
Summary
The Kimbo token price is showcasing range-bound moves and is hovering near the prompt hurdle of $0.0006000. However, the trend is neutral, and the token may attain a rebound and retest the upside of $0.0007000 soon.
Technical Levels
Support Levels: $0.0005200 and $0.0005000
Resistance Levels: $0.0006000 and $0.0007000
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.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
