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- 1 The KIN token price forms a symmetrical triangle pattern on the charts.
- 2 Bulls are attempting a pullback and are decisively holding gains.
The Kin token (KIN) price showcased higher high swings and is close to the trendline support zone of $0.000002000 and has taken a pause near it. Moreover, the trend is neutral, and the bulls will soon lift the token above the 20-day EMA to attain buying momentum. The KIN price was in an uptrend for weeks and has retested the supply zone of $0.00003000. The price action shows the buyer accumulation, and the token is respecting the upward trendline and is awaiting a pullback soon.
At press time, the Kin token (KIN) price was trading at $0.00002028 with an intraday drop of 2.70%, reflecting neutrality on the charts. It has a monthly return ratio of 16.70% and 170.89% on a yearly basis. The pair of KIN/BTC is at 0.000000000313 BTC, and the market cap is $59.54 Million. Analysts are neutral and suggest the KIN token may continue to extend the gains and will surpass the $0.00003000 mark soon.
KIN Price-to-Volume Profile Reflects Neutrality
The price-to-volume profile signifies a neutral trend, and the token stayed above the midline, showing indecisive moves. However, the trading volume revealed a decline and dragged over 10.72% to $271k. Amidst the uptrend, the higher high swings were noted, and the token will resume to skyrocket in gains.
Price Volatility and Sentiment Analysis
Amidst the nominal price movements this week, the price volatility noted a severe decline and signified neutrality; the value stands near 0.014. However, the sentiment has reverted from the negative zone and has spiked above the midline, reaching the 0.287 mark, noted a positive investor approach for the token.
Social Dominance and Active Social Users Outlook
The social dominance data noted a sharp fluctuation, reaching 0.033%, signifying the average discussions and activity on media platforms. However, active social users noted a down move, which dragged to 1056, indicating a drop in investor interest.
Development and Whales Activity Analysis
The development activity data remained in a range and remained average around the mark of 0.048. Moreover, the percent of stablecoins total supply held by the whales noted an incremental move and surged to 53.139.
The total supply of the KIN token is 2.94 trillion, whereas the volume-to-market cap ratio is 0.00458.
Summary
The Kin token price has decisively held the gains near the trendline support and is readying for a pullback. Additionally, the trend is intact, and the token will continue to outperform in the following sessions.
Technical Levels
Support Levels: $0.00002000 and $0.00001900
Resistance Levels: $0.00002100 and $0.00002200
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.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
