The technical analysis : KMD / BTC

The pair (KMD / BTC) rebounded after its trough of 0.0001435 on September 12, 2018. At this price, the market fell more than 88% from the 2018 peak to 0.0012598. But like many of the things we've talked about recently, KMD / BTC started showing signs of stability once it hit the key support zone. This is one of the reasons why we think the market will soon be bullish.

The technical analysis shows that the KMD / BTC is preparing to break the bearish resistance at 0.000175. This would lead to a big bearish price rally on the daily chart.

We have this point of view because the bulls are determined to defend historical support at 0.00016. The volume of transactions increased by more than 319% on August 3rd and by 142% on September 20th, when the market reached this price level.

In addition, we can see that the daily newspaper RSI makes a big bullish divergence on the daily chart. This indicates a potential reversal of trend as the trend begins to favor bulls. Despite keeping prices low, however, as the upward momentum increases, it will be very difficult for speculators to dominate market control.