Resistance

Daily

<ul class="list-ic vertical">
 <li><span>1</span> <a>KIN price slipped below the 200 day EMA mark and is witnessing a breakdown.</a></li>
 <li><span>2</span> <a>Buyers look trapped and have unwinded their long positions.</a></li>
</ul>
<p>The KIN crypto reflects follow-on selloff and slipped below the key moving averages, directing intense selling pressure in the last sessions. Moreover, the chart depicts a death crossover and sellers are aggressively making short positions and eyeing to breach the $0.00001400 mark shortly. Following the market bearish sentiments, the sellers have participated in the correction phase and pushed the KIN price over 40% this month.</p>
<p>At press time, the Kin token (KIN) price traded at $0.00001462 with an intraday drop of 4.20%, reflecting bearishness on the charts. It has a monthly return ratio of -34.20% and 62.28% yearly. The pair of KIN/BTC is at 0.000284 BTC, and the market cap is $1.29 Billion. Analysts are bearish and suggest that the KIN crypto may stretch the down move and will retest the downside region of $0.00001250 mark soon.</p>
<h2 class="wp-block-heading" id="strong-kin-price-volume-profile-analysis-on-daily-chart-strong"><strong>KIN Price Volume Profile Analysis On Daily Chart</strong></h2> <iframe loading="lazy" title="Santiment Chart: Price (KIN), Volume (KIN), RSI 1d (KIN)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=cosmos&amp;pt=ATOM&amp;df=2023-10-27T18%3A29%3A59.287Z&amp;dt=2024-04-27T18%3A29%3A59.287Z&amp;sat=shchcfg_kOrBeCdZ7Z87&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bprice_usd%3Bkin%3BKIN%5D%3B%5B1%3Bvolume_usd%3Bkin%3BKIN%5D%3B%5B1%3Brsi_1d%3Bkin%3BKIN%5D&amp;wax=0%3B1%3B2&amp;wc=%23FF5B5B%3B%23FFCB47%3B%235275FF&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%2C%22__appliedInterval%22%3Atrue%7D" scrolling="no"></iframe>
<p>On the daily charts, the KIN crypto reflects sharp long unwinding moves and a breakdown was noted in the last sessions. Furthermore, the trend is negative; and sellers have persisted in putting pressure on the bulls, resulting in follow-on price cuts over the past weeks. The intraday trading volume jumped over 6.29% to $246,379.</p>
<h3 class="wp-block-heading" id="strong-price-volatility-and-weighted-sentiment-outlook-strong"><strong>Price Volatility and Weighted Sentiment Outlook</strong></h3> <iframe loading="lazy" title="Santiment Chart: Price Volatility 1d (KIN), Weighted sentiment (Total) (KIN)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=cosmos&amp;pt=ATOM&amp;df=2023-10-27T18%3A29%3A59.287Z&amp;dt=2024-04-27T18%3A29%3A59.287Z&amp;sat=shchcfg_kOrBeCdZ7Z87&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bprice_volatility_1d%3Bkin%3BKIN%5D%3B%5B1%3Bsentiment_volume_consumed_total%3Bkin%3BKIN%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B" scrolling="no"></iframe>
<p>Following the price drop, volatility declined in the last few trading sessions. The <a href="https://www.thecoinrepublic.com/2024/04/27/internet-computer-protocol-will-icp-price-be-able-to-recover-the-33-drop-next-month/" target="_blank" rel="noopener noreferrer nofollow">price</a> volatility curve noted a drop of over 11.20% to 0.01, replicating lowering the selling pressure. However, the weighted sentiment looks positive and stayed above the midline around 0.789.</p>
<p>On the daily charts, the price action highlights the downtrend and the token has slipped below the key moving averages. However, the KIN price is trading near the make or break region around $0.00001400, which if it breaks, a sharp selloff can be seen ahead.</p>
<p>Per the Fib levels, the KIN price has breached the 23.6% zone and dragged toward the bearish trajectory. Similarly, the RSI curve stayed in the oversold region, and a negative crossover was noted on the charts. Additionally, the MACD indicator noted a bearish crossover and suggests further downside ahead.</p>
<p>The total supply of the KIN crypto is 2.94 trillion, whereas the volume-to-market cap ratio is 0.00585, and it is ranked 842 in terms of market cap in the global crypto market.</p>
<h4 class="wp-block-heading"><strong>Summary</strong></h4>
<p>The KIN crypto price displays intense selloff and has breached the neckline support zone of $0.00001600 mark. Furthermore, a breakdown and a death crossover highlights the seller dominance and suggests further underperformance may continue ahead.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<p><strong>Support Levels:</strong> $0.00001400 and $0.00001320</p>
<p><strong>Resistance Levels:</strong> $0.00001560 and $0.00001800</p>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>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.&nbsp;</p>

KIN Witnessed Breakdown: Are Sellers Anticipating Major Fall?

Table of Contents

Thecoinrepublic.com

Other articles published on Apr 28, 2024

Combating the Rising Tide of AI-Driven Cybercrime

Is DePIN the Next Big Thing in the Upcoming Web3 Era? How Can Ordinary Investors Participate in D...

RFK Jr.’s blockchain idea, Ethereum ETF approval in question, Bitcoin’s unlikely bull run | Weekl...

Bitcoin Miners Face Financial Strain as Earnings Plummet Post-Halving

Ethereum (ETH) Price Prediction for April 28

Sam Altman’s OpenAI reportedly in partnership talks with his other firm, Worldcoin

Join our free newsletter for daily crypto updates!