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Kyber Network Technical Analysis: KNC/USD close to cracking the $1.45 2020-high

  • KNC/USD is up another 9.3% breaking several daily resistance levels.
  • Bulls are eying up $1.45 again with very little resistance to the upside.
Kyber Network Technical Analysis: KNC/USD close to cracking the $1.45 2020-high
Lorenzo StroeLorenzo StroeIndependent Analyst

Kyber Network is close to another 2020-high after holding the daily 26-EMA at $1.10 from the consolidation period. The daily RSI has cooled off but it’s getting close to the overbought level again. 

KNC/USD daily chart

kncusd

KNC is finally out of the consolidation period and it’s looking to set new 2020-highs. There is really no resistance towards $1.45 besides this level itself. The daily RSI is close to being overextended, however, this isn’t an issue as long as the bulls have enough momentum.

The daily MACD is close to a bull cross which will be inevitable in the next few days if the buying pressure continues like this. It’s worth noting that Kyber’s trading volume has dropped significantly. 
 

Author

Lorenzo Stroe

Lorenzo Stroe

Independent Analyst

Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.

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