Kyber Network (KNC) has lately struggled in opposition to tether (USDT) after its price was rejected at $5.5. Bitcoin’s (BTC) price elevated dramatically, rising from a low of $18,500 to a excessive of $21,000. This motion has impacted different altcoins, as most cryptocurrencies, together with Kyber Network, are seeing double-digit positive aspects (KNC). (Data from Binance)
Kyber Network (KNC) Price Analysis On The Weekly Chart
The price of KNC has had issue replicating its latest bullish transfer, which noticed the price rally to $5.5 because the price rallied with a very good bullish sentiment.
KNC has struggled to remain afloat after falling from a excessive of $5.5 to a low of $1. The price of KNC has shaped good assist at $1, which seems to be a very good zone for many merchants to put purchase orders.
The price of KNC could also be poised to finish the week on a extra bullish observe forward of a brand new weekly candle. With such optimistic sentiment, we may see KNC attain a excessive of $3.
The price of KNC is going through resistance at $1.95 because it can’t development greater in price; if KNC flips this area, we may see the price rising to $2.5-$3 and even greater.
Weekly resistance for the price of KNC – $2.5-$3.
Weekly assist for the price of KNC – $1.
Price Analysis Of KNC On The Daily (1D) Chart
KNC’s price was rejected from $5.5 because it fell to a low of $1; the price of KNC bounced from this after forming assist to carry off promote orders.
The price of KNC rose from a low of $1 to $1.9 earlier than encountering resistance to breaking above $2.
After forming a bullish uptrend line and remaining above it on the day by day timeframe, the price of KNC is trying to interrupt above its resistance of $2 to development greater.
On the day by day timeframe, the price of KNC is buying and selling at $1.96, trying to interrupt and maintain above the 200 Exponential Moving Averages (EMA). The price of $1.95 corresponds to the 200 EMA, which is a barrier to the price of KNC.
KNC should break above the 23.6% Fibonacci retracement stage, which serves as resistance to the price of KNC. If KNC breaks and closes above this stage, the price may rise to $3.
Daily resistance for the KNC price – $2.
Daily assist for the KNC price – $1.7.
KNC Price Analysis On The Four-Hourly (4H) Chart
KNC’s price within the 4H timeframe stays bullish after breaking out and holding nicely above its bullish uptrend line. The price of KNC is buying and selling above the 50 and 200 EMAs; holding above these ranges signifies that the 50 and 200 EMAs are appearing as assist for the KNC price.
The 50 and 200 EMAs correspond to costs of $1.8 and $1.7, respectively.
The Relative Strength Index (RSI) for KNC is beneath 75 on the 4H chart, indicating excessive purchase order quantity for the KNC price.
Four-Hourly resistance for the KNC price – $2.
Four-Hourly assist for the KNC price – $1.8-$1.7.
Featured Image From Swissborg, Charts From