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$KGEN
KGENUSDT is maintaining a short-term uptrend when the price is on all important MA lines (MA20, MA30, MA60 and MA120). After a sharp increase from the area of 0.18 to the peak of 0.2219, the price is now adjusted to around 0.2020 to absorb the profit-taking force.
The positive point is that MA5 is still above MA10 and MA20, indicating that the upward structure has not been broken. The sharp increase in trading volume in previous bullish candles confirmed good participation in cash flow. However, the nearest candles show selling pressure in the area of 0.21–0.22, signaling short-term accumulation.
Near support: 0.198 - 0.200 and stronger at 0.190. Resistance: 0.210 – 0.222.
The preferred scenario is to wait for the price to maintain the 0.198–0,200 area and then bounce back up. If successfully surpassing 0.222 with large volume, the next target can be towards the area of 0.235–0.250. Conversely, if the 0.198 mark is lost, the risk of a correction to MA20 around 0.190 will increase.
Assessment: The short-term trend is still leaning up, but should wait for the confirmation signal at the support area before opening a new position.
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