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- 1 KIN token price has retested the 100 day EMA support mark in a retracement.
- 2 Technical indicators are suggesting a rebound ahead.
The KIN token price witnessed range bound movement and is hovering near the 100 day EMA mark, reflecting low volume on the chart. The price action shows lower-low structure and that the token has retested the upward trendline support mark near $0.00002000, from which a decisive rebound is anticipated.
At press time, the Kin token (KIN) price was trading at $0.00002018 with an intraday drop of 8.24%, reflecting neutrality on the charts. It has a monthly return ratio of 1.89% and 24.90% on a yearly basis. The pair of KIN/BTC is at 0.000000000301 BTC, and the market cap is $59.13 Million. Analysts are neutral and suggest that the KIN token price may face further retracement and will retest the 200 day EMA mark ahead.
KIN Price to Volume Profile On Daily Chart
The price to volume profile of the Kin token signifies a neutral outlook, the price is hovering in a range and remained close to the trendline support mark of $0.00002000. However, the trading volume showcased low investor interest, declining over 45.24% to $316,756.
Price Volatility & Weighted Sentiment Analysis
The data indicates that the price volatility remained below the midline, signifying a low volume selloff, which bulls will absorb and may lead into a rebound soon. The weighted sentiment signifies a positive stance with the value near 0.385.
Social Dominance and Social Volume AI Outlook
Following the price retracement, the social dominance data indicates a decline of over 87% and slipped to 0.004%. Similarly, the social volume (AI) noted a negative move and reached the 2 mark, highlighting a decrease in the volume.
What Does Whales Activity and RSI Highlights
Per the Santiment data, the percent of stablecoin total supply held by the whales replicated a surge to 56.923. However, the RSI curve stayed near the midline, reflecting a negative crossover on the charts.
Per the Fib levels, the KIN price has retested the 23.6% zone and is near the lower bollinger support zone. However, the MACD indicator shows a bearish crossover and formed red bars on the histogram reflecting a selloff on the chart.
The total supply of the Kin token is 2.94 Trillion, whereas the volume-to-market cap ratio is 0.00534. It’s ranked 855 per the market cap in the global crypto market.
Summary
The Kin token price has slipped to the 100 day EMA zone and displayed retracement movements in the last sessions. The token may continue to drain gains and may retest the 200 day EMA support region near the $0.00001700 mark in the upcoming sessions.
Technical Levels
Support Levels: $0.00001900 and $0.00001800
Resistance Levels: $0.00002120 and $0.00002250
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.
