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Kyber Network (KNC) ticks all the bullish sentiment. Could the price go up to $3?

Kyber Network (KNC) has recently struggled with Tether (USDT) after its price was rejected at $5.5. Bitcoin (BTC) price has risen dramatically, rising from a low of $18,500 to a high of $21,000. The move has impacted other altcoins as most cryptocurrencies, including Kyber Network, are seeing double-digit profits (KNC). (Data from Binance)

Kyber Network (KNC) price analysis on weekly chart

KNC’s price has struggled to replicate the recent bullish move, rising to $5.5 as bullish sentiment lifted the price.

KNC is struggling after falling from highs of $5.5 to lows of $1. The KNC price has formed a good support at $1, which seems like a good zone for most traders to place buy orders.

KNC price could be poised to end the week on a more bullish note ahead of the new weekly candle. Such positive sentiment could push KNC to a high of $3.

KNC price is facing resistance at $1.95. If KNC reverses the region, the price could rise from $2.50 to $3, or even higher.

Weekly resistance to KNC price – $2.5-$3.

Weekly support for KNC price – $1.

KNC price analysis on a daily (1D) chart

Daily KNC Price Chart | Source: KNCUSDT on Tradingview.com

KNC’s price fell from $5.50 to $1 and was rejected. KNC price has bounced back from this after forming support to hold a sell order.

The KNC price climbed from a low of $1 to $1.9 before encountering resistance above $2.

After forming a bullish uptrend line and staying above it on the daily timeframe, KNC price has broken out of the $2 resistance and is about to enter an uptrend.

On the daily timeframe, KNC price is trading at $1.96 and trying to sustain above the 200 Exponential Moving Average (EMA). The $1.95 price equates to 200 EMA, which is the barrier to KNC’s price.

KNC must rise above the 23.6% Fibonacci retracement level which acts as a resistance to KNC’s price. If KNC breaks out of this level and closes, the price can move up to $3.

KNC price daily resistance – $2.

KNC Price Daily Support – $1.7.

KNC Price Analysis on 4 Hour (4H) Chart

KNC price chart every 4 hours | Source: KNCUSDT on Tradingview.com

KNC price on the 4-hour timeframe remains bullish after breaking out well above the bullish uptrend line. KNC price is trading above the 50 and 200 EMA. A break above these levels shows that the 50 EMA and 200 EMA are acting as support for the KNC price.

The 50 EMA and 200 EMA correspond to prices of $1.8 and $1.7 respectively.

KNC’s Relative Strength Index (RSI) is below 75 on the 4H chart, indicating a high volume of buy orders for the KNC price.

4 hour resistance on KNC price – $2.

4 hours support for KNC price – $1.8 to $1.7.

Featured Image From Swissborg, Charts From 

Kyber Network (KNC) ticks all the bullish sentiment. Could the price go up to $3?

Source link Kyber Network (KNC) ticks all the bullish sentiment. Could the price go up to $3?

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