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Kodiak Finance’s chart has recently attempted a sharp upward move; however, this move failed to sustain.
Strong selling pressure following the rally pushed the price back, and the market has now entered a sideways consolidation around the 0.38 level.
Short-Term Outlook:
The price is currently consolidating around 0.38.
The 0.40 – 0.42 range is acting as a strong resistance zone.
The 0.35 – 0.36 range serves as an important support area.
Daily closes above 0.40 could trigger a short-term upward move.
A break below 0.35 would increase selling pressure and may lead to a move toward lower price levels.
Long-Term Outlook:
Sustained price action above the 0.42 – 0.45 range would signal the beginning of a positive trend.
Until this zone is decisively broken, the long-term outlook remains weak.