Smart Crypto News
Registration
  • Login
  • News
  • Personalized
  • My Folder
  • Learn
  • Contact Us
No Result
View All Result
  • News
  • Personalized
  • My Folder
  • Learn
  • Contact Us
No Result
View All Result
Smart Crypto News
No Result
View All Result
Home Analysis

Kyber Network (KNC) Rallies To New ATH: Here’s Why $2 Seems Possible

NewsBTC by NewsBTC
July 3, 2020
in Analysis, knc, KNCUSD, KNCUSDT, Kyber Network, Token
0
Kyber Network (KNC) Rallies To New ATH: Here’s Why $2 Seems Possible
0
SHARES
1
VIEWS

Kyber Network token price rallied above $1.500 and traded to a new all-time high against the US Dollar. KNC price is currently consolidating gains and it could continue to rise towards $2.000.

  • Kyber Network gained traction in the past few days and its token price surged above $1.000 against the US dollar.
  • The price traded to a new all-time high at $1.676 and it is currently trading in a strong uptrend.
  • There is a crucial bullish trend line forming with support at $0.9000 on the daily chart of the KNC/USD pair (data source from Coinbase).
  • The pair could correct a few points, but it might find bids near $1.400 or $1.340.

KNC Price Could Rally To $2.000

In the past few days, kyber network token price started a significant rally from the $0.5000 support against the US Dollar. KNC outpaced all major cryptocurrencies, including bitcoin, Ethereum, and ripple.

It surged above the $1.000 resistance and settled well above the 100-day simple moving average. It gained more than 150% and traded to a new all-time high at $1.676. During the rise, it surpassed a crucial barrier at $1.345, which may now act as a strong support.

Moreover, there is a crucial bullish trend line forming with support at $0.9000 on the daily chart of the KNC/USD pair. If there is a downside correction, an initial support could be $1.500.

Kyber Network (KNC) Price

KNC price above $1.500. Source: TradingView.com

The 23.6% Fib retracement level of the recent rally from the $1.009 low to $1.676 high is also near the $1.510 level to provide support. The first major support is near the $1.345 level (the recent breakout zone).

The $1.345 support is also close to the 50% Fib retracement level of the recent rally from the $1.009 low to $1.676 high. On the upside, the $1.650 and $1.700 levels are immediate hurdles. A successful break above the $1.700 level could open the doors for a sharp rise towards the $2.000 resistance in the coming sessions.

Chances of a Bearish Wave?

If KNC fails to continue higher above $1.700, it could correct lower. The first major support is near the $1.345 level, below which the bulls are likely to defend the $1.100 support.

Any further losses may perhaps put pressure on the bulls and the price could dive towards the trend line support near the $0.900 level in the near term.

Technical Indicators

Daily MACD – The MACD for KNC/USD is gaining momentum in the bullish zone.

Daily RSI (Relative Strength Index) – The RSI for KNC/USD is rising and it is approaching the 80 level.

Major Support Levels – $1.500, $1.345 and $1.100.

Major Resistance Levels – $1.650, $1.700 and $2.000.

Take advantage of the trading opportunities with Plus500

Risk disclaimer: 76.4% of retail CFD accounts lose money.

0
0

Related posts:

No related posts.

Previous Post

Bitcoin Faces Another Rejection And It’s Vulnerable to a Drop Below $9K

Next Post

Three Important Reasons Why Ethereum Could Tumble Below $220

NewsBTC

NewsBTC

Next Post
Three Important Reasons Why Ethereum Could Tumble Below $220

Three Important Reasons Why Ethereum Could Tumble Below $220

Twitter
About Us
Contact Us
Terms of Service
Privacy

Subscribe to our Newsletter

Download our APP on Google Play

© 2020 Smart Crypto News

No Result
View All Result
  • News
  • Learn
  • Personalize
  • Registration
  • Login
  • Contact Us

© 2020 Smart Crypto News

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In