Kyber Network (KNC/USD) Finally Claims the $0.700 Price Level
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On June 10, the Kyber Network bulls established a formidable roadblock for the bear market at the support level of $0.4674. This led to a steady upward trajectory in the market starting on June 20. Since June 24, the crucial resistance price level has been $0.700. Notably, the market’s recent surge in trade volume over the past three days successfully propelled it above the resistance level.
Kyber Network Market Data
- KNC/USD Price Now: $0.7176
- KNC/USD Market Cap: $123,870941
- KNC/USD Circulating Supply: 171,003,562 KNC
- KNC/USD Total Supply: 227,987,369
- KNC/USD CoinMarketCap Ranking: #174
Key Levels
- Resistance: $0.750, $0.800, and $0.850.
- Support: $0.600, $0.550, and $0.500.
Price Prediction for Kyber Network: The Indicators’ Point of View
Since late June, the chart has been showing a pattern of progressive higher lows, which seems to have played a role in the recent upsurge of investor interest and trade volume in the market over the past three days. This surge in liquidity has propelled Kyber Network above the critical resistance level.
However, it is now essential for the bulls to establish a firm foothold above this price level to sustain the ongoing uptrend. The market displays potential for this, given the presence of progressive higher lows on the chart.
KNC/USD 4-Hour Chart Outlook
During the 4-hour chart timeframe analysis, we observed the potential emergence of a new higher support level above $0.700. In the recent daily session, the bull market encountered resistance at $0.7646, leading to a price retracement. However, the strong bullish sentiment enabled the formation of a near-support level at $0.6583, and subsequently, the market managed to surpass the $0.700 price level. Based on the market’s performance, the next target for the Kyber Network market could be the $0.800 price level.
