Kyber Network (KNC) is holding above $1 with rising monthly volume  Covered: Recent Price Action Charts (M,W,D) Key Technical Levels & What to Anticipate Kyber Network (KNC) is holding above $1 with Steadily Rising Volume Month after Month  KNC started 2021 as a sub $1 crypto, but it rose as high as $4. It has […] The post Kyber Network Showing Positive Signs, According To Tecnical Analyst appeared first on CryptosRus.

Kyber Network Showing Positive Signs, According To Tecnical Analyst

Kyber Network (KNC) is holding above $1 with rising monthly volume 

Covered:

  • Recent Price Action
  • Charts (M,W,D)
  • Key Technical Levels & What to Anticipate

Kyber Network (KNC) is holding above $1 with Steadily Rising Volume Month after Month 

KNC started 2021 as a sub $1 crypto, but it rose as high as $4. It has been pulled down numerous times, but it has held its ground above $1.

What kind of an outlook can we anticipate going on from this De-fi crypto?

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KNC: Monthly

The monthly chart shows an uptrend despite the fast-moving averages like 5EMA and 8EMA pointing down.

We can see a potential cup & handle pattern forming, and the price action will determine the “handle” part of the pattern over the next few months.

21EMA and 30MA are providing support so far. The 20MA average monthly volume has been rising rather significantly.

The momentum oscillator shows the fast momentum line is trying to cross above the midline and the slow momentum line. This is a bullish sign.

KNC has a medium-compression squeeze with the momentum histogram red (bearish & falling), but this momentum was carried over from the last month’s bearish action.

If momentum in the lower time frames is turning bullish, we’ll see monthly momentum turning up in the following months.

KNC: Weekly

Moving averages show are curling up. But the momentum needs to follow through to start a full-blown uptrend. This could be the beginning of it.

Triangle consolidation is maturing, and the momentum oscillator shows that the fast momentum line is trying to cross to the upside.

The squeeze indicator shows a long medium-compression squeeze developing with flat momentum.

KNC: Daily

The daily chart shows that moving averages are trading sideways but turning up.
Price is now above 50MA, but there is an overhead of 200MA.

The momentum oscillator shows that the fast momentum line is bullish and rising, and the slow momentum is following its trajectory. This is a good momentum structure.

The squeeze indicator shows a medium-compression squeeze with flat momentum.

If next week, KNC shows a continuation of the positive momentum, that will be a very positive sign.

This crypto has a big cup and handle pattern that could complete in the next few months, and the most recent price action is forming a triangle consolidation that is maturing.

Its daily momentum is strong, which could start an uptrend in its weekly chart.

 

Key Technical Levels:

Support Zone:1.15 – 1.21

Key Resistance Zone: 1.65 – 1.73

Resistance: 1.94 – 2.07

Resistance: 2.33

Resistance: 2.7

Resistance: 3.08

Indicator Used: (Click Here)

  • Not Financial Advice

 

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