Since its launch on April 14, $KERNEL has faced intense selling pressure, dropping 55% from its highs to $0.25, with a current market cap of $39.14M. The daily chart reveals a markdown phase with lower highs and lows, supported by rising open interest in shorts. The 50 EMA ($0.28) is acting as dynamic resistance, while the 200 EMA ($0.18) offers potential support. The Bollinger Bands are narrowing, suggesting low volatility and a possible breakout soon. On-chain data shows $1.6B in TVL, dwarfing the market cap, hinting at undervaluation. For a bullish setup, watch for a reclaim of $0.2222 with a spike in volume to confirm reversal momentum. Conversely, a break below $0.20 could see $0.15 as the next target. Use the ATR (currently 11.09%) to set stops and manage risk. This is for educational purposes only—always consult a financial advisor before trading.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.