Kyber Community (KNC) has lately struggled in opposition to tether (USDT) after its worth was rejected at $5.5. Bitcoin’s (BTC) worth 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 Community, are seeing double-digit features (KNC). (Information from Binance)
Kyber Community (KNC) Value Evaluation On The Weekly Chart
The worth of KNC has had issue replicating its current bullish transfer, which noticed the worth rally to $5.5 as the worth rallied with bullish sentiment.
KNC has struggled to remain afloat after falling from a excessive of $5.5 to a low of $1. The worth of KNC has shaped good assist at $1, which seems to be zone for many merchants to position purchase orders.
The worth of KNC could also be poised to finish the week on a extra bullish be aware forward of a brand new weekly candle. With such optimistic sentiment, we might see KNC attain a excessive of $3.
The worth of KNC is going through resistance at $1.95 because it can’t development larger in worth; 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 assist for the worth of KNC – $1.
Value Evaluation Of KNC On The Every day (1D) Chart
KNC’s worth was rejected from $5.5 because it fell to a low of $1; the worth of KNC bounced from this after forming assist to carry off promote orders.
The worth 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 Shifting Averages (EMA). The worth 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 degree, which serves as resistance to the worth of KNC. If KNC breaks and closes above this degree, the worth might rise to $3.
Every day resistance for the KNC worth – $2.
Every day assist for the KNC worth – $1.7.
KNC Value Evaluation On The 4-Hourly (4H) Chart
KNC’s worth within the 4H timeframe stays bullish after breaking out and holding nicely above its bullish uptrend line. The worth 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 assist for the KNC worth.
The 50 and 200 EMAs correspond to costs of $1.8 and $1.7, respectively.
The Relative Power Index (RSI) for KNC is beneath 75 on the 4H chart, indicating excessive purchase order quantity for the KNC worth.
4-Hourly resistance for the KNC worth – $2.
4-Hourly assist for the KNC worth – $1.8-$1.7.
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