In this case, KMDBTC has rallied to the 38% retracement of its last thrust lower over the previous month. The 38% retracement level is at 714. There is additional horizontal resistance at 725.

Where KMDBTC is different from other altcoins we have looked at, is there is a scenario where you FOMO into a long. If KMDBTC closes a 4H bar above the 50% retracement level at 740, a much bigger rally could unfold.

Bottom Line: There's promise here. In the meantime, respect resistance.

DISCLOSURE: Token Metrics is a regular publication of information, analysis and commentary and does not provide individually tailored investment advice.  The Token Metrics team has invested and advised in many blockchain companies. A complete list of the team disclosures, advisory roles and current holdings can be viewed here: https://blog.tokenmetrics.com/disclosures/.