Our Kryll crypto price prediction has just flipped bearish due to the market structure breakdown on weekly timeframe. The coin has officially broken the weekly uptrend that started in September 2021. One major reason behind the intense Kryll coin sell-off is the ongoing slump in Bitcoin price. Most cryptocurrencies dipped to the record lows last week as the Bitcoin price tagged $24,500.
At the time of writing, KRL is trading at $0.51. Therefore, it is trading 89% below its November 2021 all-time high of $4.75. The prevailing bearishness in the market has made many investors take a risk-off approach.
Kryll crypto lets traders develop complex trading strategies leveraging its simple drag and drop editor. These strategies are automatically executed and can also be shared with the community. The platform also allows traders to safely test their strategies by providing them with backtesting and sandboxing tools.
According to Kryll news today, the team has rolled out an update for iOS and Android app. The latest update includes Hide & Share feature which lets users hide their portfolios and share their strategies results.
Technical analysis of KRL USD price presents a very bearish outlook. The native asset of Kryll platform tagged the lows of $0.459 earlier this week and the price is still struggling to find support. If the Bitcoin price gets an acceptance below $30,000 then things might turn pretty ugly for Kryll. In such a scenario price is likely to hit $0.30 region which aligns with 1.27 Fib level. This Fib level comes into play connecting the previous low of $0.61 to the local high of $1.82.
Any bullish Kryll crypto price prediction seems to be off the table until the coin breaks above the downwards trendline. In the current market scenario, such a move seems to be highly unlikely. Nevertheless, a relief rally couldn’t be ruled out if BTC price shows some clear signs of recovery.
This post was last modified on %s = human-readable time difference 20:09