Kyber Network (KNC) Checks All Bullish Boxes, Price To $3?

Kyber
Kyber Network (KNC) Checks All Bullish Boxes, Price To $3?

Kyber Network (KNC) after its price was rejected at $5.5, has recently battled with tether (USDT).

The price of Bitcoin (BTC) sharply climbed, increasing from a low of $18,500 to a high of $21,000.

Other cryptocurrencies, notably Kyber Network, have been influenced by this shift since most cryptocurrencies are witnessing double-digit rises (KNC).

(According to Binance)

Kyber Network weekly price analysis

The price of KNC has had trouble repeating its most recent bullish rise, in which the price climbed to $5.5 amid a strong bullish feeling.

KNC has had trouble surviving after dropping from a high of $5.5 to a low of $1.

At $1, where the price of KNC has built strong support, most traders seem to be placing their buy orders, this area seems to be a favorable one.

A new weekly candle could signal that the price of KNC is about to end the week on a more optimistic note.

With such a strong mood, KNC may rise as high as $3.

As it cannot trend higher in price, the price of KNC is encountering resistance at $1.95; if KNC flips this zone, we might witness a price increase to $2.5-$3 and even higher.

Weekly price resistance for KNC is between $2.5 and $3.
KNC price support on a weekly basis: $1

KNC Daily (1D) Price Analysis

KNC’s price declined from $5.5 to a low of $1 before rebounding after establishing support to stave off sell orders.

KNC’s price increased from a low of $1 to a high of $1.9 before running into obstacles to break through to $2.

The price of KNC is attempting to break above its resistance of $2 to trend upward after forming a bullish uptrend line and maintaining above it on the daily timeframe.

KNC’s price is currently trading at $1.96 on the daily period as it tries to break and hold above the 200 Exponential Moving Averages (EMA).

The 200 EMA, which is a barrier to the price of KNC, is priced at $1.95.

The 23.6% Fibonacci retracement level, which acts as resistance to KNC’s price, must be broken.

KNC’s price might increase to $3 if it breaks through and closes above this point.

$2 is the daily price barrier for KNC.

KNC price support on a daily basis is $1.7.