KIN Token Stalls Amidst Neutral Market, Analysts Eye Retracement

The KIN token remains range-bound, hovering near its crucial support zone of $0.00002000. Technical indicators are neutral, reflecting investor indecision. Despite bullish attempts for a pullback, low trading volume and a negative RSI crossover suggest potential for further retracement towards the 200-day EMA.

KIN Token Stalls Amidst Neutral Market Conditions, Analysts Anticipate Retracement

The Kin token (KIN) has exhibited a range-bound trajectory, indicating a lack of investor enthusiasm. Technical indicators suggest a neutral stance, yet point towards the possibility of a forthcoming dip.

At press time, KIN traded at $0.00002090, having experienced a 3.67% intraday loss. The token's monthly and yearly returns stand at -7.90% and 38.29%, respectively. Against Bitcoin (BTC), KIN hovers around 0.0000000293 BTC, with a market capitalization of $58.88 million.

Analysts remain neutral on the token's outlook, predicting a potential retracement and retest of the 200-day EMA.

Volume Profile and Market Sentiment

The daily volume profile charts indicate a period of consolidation for KIN. Bulls are attempting a pullback, with the token hovering around the 100-day EMA. However, the intraday trading volume has declined by over 14.89% to $245,123, reflecting subdued investor interest.

Despite the price consolidation, price volatility remains moderate, registering a surge of 3.89% to 0.019. Weighted sentiment data stays positive at around 0.385.

Social Media Activity

Active social media users on Telegram and Reddit have witnessed declines this week. Telegram users fell by 23.77% to 3,818, while Reddit users decreased by 13% to 3,649.

Technical Analysis

According to Fibonacci levels, KIN has found support at its crucial 23.6% zone and faces resistance at the $0.00002600 mark. The Relative Strength Index (RSI) has displayed a negative crossover and lingers below the midpoint at approximately 43.

Market Rankings and Supply

The KIN token's total supply amounts to 2.94 trillion. The volume-to-market cap ratio currently stands at 0.00460, ranking the token at 881st in global crypto market capitalization.

Conclusion

The KIN token has maintained its position around the $0.00002000 mark, showing signs of a potential rebound. It has found support at the 100-day EMA and has formed a double bottom pattern. However, analysts remain cautious and anticipate a possible retracement and retest of the 200-day EMA.

Support and Resistance Levels:

• Support: $0.00001900, $0.00001830
• Resistance: $0.00002100, $0.00002300

Disclaimer:

The views and opinions expressed in this article are solely for informational purposes and do not constitute financial, investment, or other advice.