Observations on KLV, KFI, Fibonacci, and Klever NewsKLV has performed a 618 retracement since the start of this amazing bull run early in the year. This retracement line is is a common reversal zone and is the sweet spot of the golden ratio, plus we have shown the first signs of testing the line with quite a lot of momentum in the bounce.
KFI has dropped from its initial mining price of ~$1000USD per token down to the low-to-mid $200USD range, specifically around $214. This is in the 786 fib retracement zone area with a price recovery soon after its lowest low that brought it back to the mid-to-upper $200s within a day (this is based on conversions over TronTrade's KFI/TRX pair as well as personal observations in the Klever Wallet's listed price, so take that however you like). 786 is notable for its extremely hard to pass up price difference from the previous highs, and is a position for many who feel they can enter with low risk. I think KFI's retracement has ended up being so large with all of the FUD that has been spread by people who due to a lack of understanding/experience, thought a public mining event for a governance token without a deployed network was going to result in instant gains. You will see the price of KFI go up with KLV, especially when we start the next bull run.
Strong bullish divergence is indicated by the orange arrows on the oscillator and related price points using daily candles. This is a textbook example if you ever needed one.
Using these levels along with the Fib fan shows we can find support within the blue channel. Where the white fib levels, blue channel barrier, and red resistance line meet is a zone where significant movements are likely to occur (estimated between now and May 5th).
We received a preview of the Klever exchange from Dio Ianakiara's twitter 4 days ago, with the roadmap expecting the release to be within the current quarter (any day now). Although we have until Q3/Q4 for the mainnet to arrive, you better believe people will be stocking up on KFI tokens around this point, and it appears to already have begun. Klever seems to be getting listed on multiple exchanges each week and recently partnered with Syscoin to become the main wallet for SYS and other related tokens.
I hope this helps some of you that have stuck around this whole time see the potential ahead, and I hope it reinforces your beliefs if you are just entering from the dip. We have a lot of room for gains from here but by the end of the year we will really see the true value of Klever as it continues to meet roadmap goals. Good luck!
Exchange preview:
twitter.com
Roadmap:
klever.io
Syscoin Partnership:
syscoin.org
