Komodo KMD/USD is trading at 2.79. The cryptocurrency is traded within the Ichimoku Kinko Hyo Cloud, which indicates the presence of a flat trend for Komodo. The test of the lower boundary of the Ichimoku Kinko Hyo Cloud near the level of 2.75 is expected, from which we should expect a rebound and an attempt to continue growth with the target close to 4.00.
Komodo forecast & analysis KMD/USD on March 29, 2018
An additional signal in favor of the growth of the cryptocurrency is the formation of the reversal model «Head and Shoulders», as well as the formation of the bullish «Wolfe Wave» model. The target of testing models is the area above the level of 5.00. Earlier, a weak signal was received for sell of Komodo cryptocurrency, due to crossing of signal lines at the level of 3.00.
Cancellation of the variant of Komodo quotes growth will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 2.45, which indicates the change of the flat trend in favor of the bearish one. Expect to accelerate the growth of quotations KMD/USD stands with the breakdown of the upper boundary of the Cloud Ichimoku Kinko Hyo and the closing above area 3.05.