Meme Coin Kishu Inu (KISHU) Price Analysis: Price Seeks Important Support Level!

the last two months, Kishu Inu (KISHU) It has been a period of many fluctuations for its investors. KISHU price, which experienced a parabolic growth in October, experienced the same enthusiasm in the opposite direction in November and experienced a great decline. The token price is about “72.7% down” from its high and stuck at a key support level. Could these tides in KISHU price be an important moment for the bulls?

Important Technical Details

  • KISHU token price has dropped to the 0.786 Fibonacci retracement level.
  • The 20 and 50 EMA lines are pretty close to showing a bearish trend.
  • The intraday trading volume of the KISHU token is around $111M, which is proof of a 1.76% drop.

The KISHU token has gained nearly 2000% after the parabolic rally it started in October, reaching a one-month high of $0.00000001. However, the price received a quick and very hard rejection at this level and entered a rapid retracement phase.

After such sharp rises, rapid pullbacks were not surprising, of course, but there was a serious atmosphere of panic when the price of KISHU quickly dropped below the level that even medium and long-term investors expected.

KISHU price is currently struggling to stay above this important level and dropped to the critical support zone of $0.0000000027-0.00000000265. This support level is very important for crypto traders as it is coupled with the other important technical level.

Technical Levels to Follow

  • The ‘horizontal support level’ at $000.00000027.
  • The price is struggling to stay above the 0.789 Fibonacci level.
  • The relative strength index (34) shows that the price is currently in a ‘downtrend’.

KISHU/USD Price Chart: 4-Hour Timeframe

Seems like KISHU tokencontinues to follow a descending trend line. This resistance trendline has been leading the downtrend since the beginning of November. Therefore, if the price bounces back from this lower support, crypto traders will get an early signal to “go long”.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.

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