KMD/BTC: Taking a look
Little fundamental analysis here... KMD stands out to me because of its multi-chain architecture. KMD allows its projects to create their own blockchain on the Komodo ecosystem, that allows them from operating truly independently from one another. Along with this, the technology Komodo utilizes allows cross-chain interoperability of blockchains, which can connect the entire network. If a chain on the Komodo network is not meeting performance needs, additional chains can be added to it, boosting performance without affecting inflation or supply. KMD is a Proof of Work consensus protocol but this is delayed due to the fact that the Komodo blockchain stores a notarization onto a Blockhash of the Bitcoin ledger every ten minutes, providing complete protection from 51% attacks from malicious miners.
From a technical point of view here looking at the chart, I am finding a decent level of support here in the blue box around 0.0001700. Down roughly -80% from its high in January, the all time high for KMD was technically in 2017 (box in yellow on chart)
I have highlighted that I think we could easily see a potentially -30% or -40% drop in price if we fall from support around the blue box.
Red box around 0.0003000 I am viewing as resistance/target on a convincing breakout.
I am going to try to long around the blue box if volume appears and stability holds at this range. Would use a tight stop loss under the blue box, weary of the drop mentioned above.
No longer posting links in trading view descriptions, but you can find my twitter in my trading view profile bio. I have a discord group which can be found on my twitter.
From a technical point of view here looking at the chart, I am finding a decent level of support here in the blue box around 0.0001700. Down roughly -80% from its high in January, the all time high for KMD was technically in 2017 (box in yellow on chart)
I have highlighted that I think we could easily see a potentially -30% or -40% drop in price if we fall from support around the blue box.
Red box around 0.0003000 I am viewing as resistance/target on a convincing breakout.
I am going to try to long around the blue box if volume appears and stability holds at this range. Would use a tight stop loss under the blue box, weary of the drop mentioned above.
No longer posting links in trading view descriptions, but you can find my twitter in my trading view profile bio. I have a discord group which can be found on my twitter.
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