THELOGICALINDIAN - Kyber Network badge amount rallied aloft 1500 and traded to a new 2024 aerial adjoin the US Dollar KNC amount is currently accumulation assets and it could abide to acceleration appear 2024
KNC Price Could Rally To $2.000
In the accomplished few days, kyber arrangement badge amount started a cogent assemblage from the $0.5000 abutment adjoin the US Dollar. KNC outpaced all above cryptocurrencies, including bitcoin, Ethereum, and ripple.
It surged aloft the $1.000 attrition and acclimatized able-bodied aloft the 100-day simple affective average. It acquired added than 150% and traded to a new 2024 aerial at $1.676. During the rise, it surpassed a acute barrier at $1.345, which may now act as a able support.
Moreover, there is a acute bullish trend band basic with abutment at $0.9000 on the circadian blueprint of the KNC/USD pair. If there is a downside correction, an antecedent abutment could be $1.500.
The 23.6% Fib retracement akin of the contempo assemblage from the $1.009 low to $1.676 aerial is additionally abreast the $1.510 akin to accommodate support. The aboriginal above abutment is abreast the $1.345 akin (the contempo blemish zone).
The $1.345 abutment is additionally abutting to the 50% Fib retracement akin of the contempo assemblage from the $1.009 low to $1.676 high. On the upside, the $1.650 and $1.700 levels are actual hurdles. A acknowledged breach aloft the $1.700 akin could accessible the doors for a aciculate acceleration appear the $2.000 attrition in the advancing sessions.
Chances of a Bearish Wave?
If KNC fails to abide college aloft $1.700, it could actual lower. The aboriginal above abutment is abreast the $1.345 level, beneath which the beasts are acceptable to avert the $1.100 support.
Any added losses may conceivably put burden on the beasts and the amount could dive appear the trend band abutment abreast the $0.900 akin in the abreast term.
Technical Indicators
Daily MACD – The MACD for KNC/USD is accepting drive in the bullish zone.
Daily RSI (Relative Strength Index) – The RSI for KNC/USD is ascent and it is abutting the 80 level.
Major Support Levels – $1.500, $1.345 and $1.100.
Major Resistance Levels – $1.650, $1.700 and $2.000.
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