Kyber Network Technical Analysis: KNC/USD continues posting astronomical gains smashing the $1 resistance point
- KNC/USD is still outperforming the entire crypto market and seeing some serious gains in the past few months.
- KNC/BTC had another bull break today on June 10 hitting an ATH on Poloniex.
KNC remains in a strong bullish uptrend on all timeframes and against all pairs. The price of KNC reached $1 for the first time since July 2018 and the digital asset is profiting from a significant surge in trading volume.
KNC/BTC daily chart
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The bull break on June 9 was already quite big, however, KNC still needed to break above more resistance levels for a total breakout. Today, on June 10, KNC has been even stronger with a 38% increase against its Bitcoin pair hitting a high not seen since July 2018. This huge breakout not only means that Kyber Network is in an uptrend across all timeframes but also that it is one of the few coins to outperform Bitcoin for an extended period of time.
KNC/BTC 4-hour chart
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KNC is looking for some consolidation now, however, no one can predict when that’s coming as another bull leg tomorrow is certainly possible. Bulls can look at the 12-EMA and the 26-EMA for support levels although they are both far away from the current price.
Author
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.
