Kamino Finance/Tether (KMNOUSDT) Market Overview

Summary
• Kamino Finance/Tether (KMNOUSDT) fell 2.98% over 24 hours, closing at 0.06013.
• Price tested key support and resistance levels, with bearish divergence in volume observed.
• Volatility remained elevated, with a range of 0.0645 to 0.05918.
• No clear bullish confirmation formed, despite a temporary rebound in the early morning.
• Market appears range-bound with no definitive breakout, suggesting a consolidation phase.

Market Overview

Kamino Finance/Tether (KMNOUSDT) opened at 0.06205 on 2025-11-05 at 12:00 ET and reached a high of 0.06355 before closing at 0.06013 on 2025-11-06 at 12:00 ET, with a low of 0.05918. Total 24-hour volume amounted to approximately 43,883,523.0, while notional turnover stood at 2,737.66.

Price action was marked by a bearish reversal from earlier resistance levels, with multiple rejection candles observed between 0.0623–0.0629. A bearish engulfing pattern formed near 0.0631 on 19:00–19:15 ET, followed by a series of lower highs and lower closes. The structure suggests weakening demand and a potential shift in sentiment toward the short side.

Structure & Formations

Key support levels identified include 0.0610 and 0.0598, with price testing the lower boundary of a short-term channel multiple times during the session. Resistance was evident around 0.0625–0.0629, where price struggled to hold above 0.0623 in the early evening. A doji formed at 0.06135 on 06:15–06:30 ET, indicating indecision. The bearish engulfing pattern at 0.0631 suggests a possible continuation of downward momentum if these levels fail to hold.

Moving Averages and Bollinger Bands

On the 15-minute chart, the 20-period moving average crossed below the 50-period line, forming a death cross, indicating a bearish signal. Price closed below the 20SMA, suggesting short-term bearish bias. Bollinger Bands showed moderate contraction from 0.0613 to 0.0619 before expanding again, indicating a potential increase in volatility. Price closed near the lower Bollinger band, suggesting oversold conditions.

MACD and Momentum

The MACD line remained negative throughout the session, with a bearish crossover observed early in the session. The histogram showed a steady decline in bullish momentum, with no signs of reversal. RSI data was unavailable, but the price action and volume suggest a potential overbought-to-oversold transition occurred late in the session.

Volume and Turnover

Volume spiked sharply during the 18:30–19:00 ET window, coinciding with a sharp bearish move to 0.0623 and 0.0621. A subsequent bearish reversal candle confirmed bearish control during this period. Notional turnover also showed a divergence with price, as the largest turnover occurred during bearish moves. This divergence suggests strong selling pressure and weak follow-through on the long side.

Fibonacci Retracements

Applying Fibonacci levels to the 19:00–04:00 ET swing (0.06301–0.06174), 61.8% retracement at 0.0621 and 38.2% at 0.0626 provided key resistance and support areas. Price closed near the 38.2% level, suggesting short-term bearish momentum may persist.

Backtest Hypothesis

Given the bearish bias observed in the recent 24-hour period and the presence of key technical levels, a backtest using RSI(14) could provide further insight into potential entry and exit points. Since RSI data was not available for KMNOUSDT, this strategy cannot be executed at this time. A valid symbol is required to proceed with the backtest. Once the correct ticker is confirmed, signals could be generated to test the effectiveness of buying on RSI ≤ 30 and selling on RSI ≥ 70. The results could help determine whether this strategy is viable in the current market environment.