Which way is KGST token going today? My own analysis in a slow market

How are you all, my crypto-loving friends? I am sharing this analysis article with you about a token listed on Binance. I think you will like the article.


After looking closely at the #KGST/USDT chart listed on Binance for quite some time today, what struck me the most is that the price of this token is not showing a big move but is moving within a narrow range. Currently, the price is around $0.01141, which can be said to be between today's high and low. Such movements usually indicate indecision in the market.

Looking at the one-hour timeframe chart, it can be seen that the price is mostly moving near the MA(7), MA(25) and MA(99) lines. This means that no strong trend has been formed yet. There was a sudden uptrend earlier, where the price quickly rose to $0.01118, but could not sustain that move. Usually, such an uptrend indicates that there was selling pressure.
Looking at the MACD indicator, the difference between the lines is very small,l and the histogram is almost zero. This clearly indicates that there is no major bullish or bearish force working in the market right now. Simply put, traders are still in a wait-and-see mood.

In terms of volume, there was no big exception today. There is a daily volume of about $90K–$100K, which is quite normal for a token of this market cap. However, what is a little worrying is that the Platform Concentration is about 92%, meaning most tokens are concentrated on a specific platform or wallet. This does not rule out the possibility of a sudden big move.

According to my personal observations, the $0.01135–$0.01130 zone is now acting as a minor support. And on the upside, the $0.01155–$0.01170 area could be a strong resistance. If the volume increases and the price can break this resistance and close above, then a positive move may gradually begin.

Friends, the #KGST token is still in a consolidation phase today. For those who trade in the short term, it is important to be patient and observe support and resistance levels. For those who are thinking long-term, it would be wise to keep an eye on the next direction of the market without taking any sudden decisions.