Kyber Network (KNC) has lately struggled towards tether (USDT) after its value was rejected at $5.5. Bitcoin’s (BTC) value 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 factors (KNC). (Data from Binance)
Kyber Network (KNC) Price Analysis On The Weekly Chart
The value of KNC has had problem replicating its latest bullish transfer, which noticed the worth rally to $5.5 as the worth 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 value of KNC has fashioned good help at $1, which seems to be a very good zone for many merchants to position purchase orders.
The value of KNC could also be poised to finish the week on a extra bullish notice forward of a brand new weekly candle. With such optimistic sentiment, we might see KNC attain a excessive of $3.
The value of KNC is dealing with resistance at $1.95 because it can not development larger in value; if KNC flips this area, we might see the worth rising to $2.5-$3 and even larger.
Weekly resistance for the worth of KNC – $2.5-$3.
Weekly help for the worth of KNC – $1.
Price Analysis Of KNC On The Daily (1D) Chart
KNC’s value was rejected from $5.5 because it fell to a low of $1; the worth of KNC bounced from this after forming help to carry off promote orders.
The value 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 each day timeframe, the worth of KNC is trying to interrupt above its resistance of $2 to development larger.
On the each day timeframe, the worth of KNC is buying and selling at $1.96, trying to interrupt and maintain above the 200 Exponential Moving Averages (EMA). The value of $1.95 corresponds to the 200 EMA, which is a barrier to the worth of KNC.
KNC should break above the 23.6% Fibonacci retracement stage, which serves as resistance to the worth of KNC. If KNC breaks and closes above this stage, the worth might rise to $3.
Daily resistance for the KNC value – $2.
Daily help for the KNC value – $1.7.
KNC Price Analysis On The Four-Hourly (4H) Chart
KNC’s value within the 4H timeframe stays bullish after breaking out and holding nicely above its bullish uptrend line. The value of KNC is buying and selling above the 50 and 200 EMAs; holding above these ranges signifies that the 50 and 200 EMAs are performing as help for the KNC value.
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 value.
Four-Hourly resistance for the KNC value – $2.
Four-Hourly help for the KNC value – $1.8-$1.7.
Featured Image From Swissborg, Charts From 
