KNC/USD Price Finally Enters the Buy Zone

Kyber Network finally breaks the long-term downward-moving market. The tide began to turn in favour of the buyers on the 8th and the 9th of November when a very significant bearish price move brought the price down to $0.5 from $0.8. This strong bearish move immediately triggered the bull market at the support level of $0.5, and the buyers also significantly pushed the price upward in the following trading session. However, they hit a brick wall at the $0.6 price level. For several days, the bulls continued to try to break through the $0.6 resistance level. It was not until today that the bullish price finally breaks the resistance level.

Kyber Network Classic Market Price Statistic:

• KNC/USD price now: $0.7
• KNC/USD market cap: $120,438,631
• KNC/USD circulating supply:164,893,760.00
• KNC/USD total supply: 223,368,900
• KNC/USD coin market ranking: #164

Key Levels

• Resistance: $0.75, $0.8, $0.85
• Support: $0.6, $0.55, $0.50

Kyber Network Market Price Analysis: The Indicators’ Point of View

The Bollinger band indicator portrays the steep movement of the market. This is because the market has been trending downward over a long period before the November 8 and 9 massive price depreciation. The bullish move of November 10 was what broke the downward movement of the market. Now as the upper band of the Bollinger indicator and the 20-day moving average change direction of their movement to the upside, this signifies the beginning of a bullish trend.

KNC/USD 4-Hour Chart Outlook

In this timeframe, we see the Bollinger indicator portraying a market breaking out to the upside. But the bull market now has to deal with a new resistance level at $0.718. The bulls are holding up against the pressure. Judging from the momentum of the bull market, we can expect the price to continue to trend upwards, breaking the $0.8 resistance level.

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