Kyber Network has been ranging since June 18. However, the market favours the bulls as the value of KNC/USD is having slightly higher lows. This implies that the market is rising. On the 20th and the 21st of August was a total deadlock between the buyers and the sellers. In these two days, none of them could push the price above or below the opening price. The price continued at the $1.784199 resistance. Today, the bulls push the market above the resistance level gaining 2.51%. As a result of that, the resistance has now become the new support.
Kyber Network Price Statistic Data:
- KNC/USD price now: $1.8865750331
- KNC/USD market cap: $$336,610,556
- KNC/USD circulating supply: 177,809,349KNC
- KNC/USD total supply: 177,809,350KNC
- KNC/USD coin market ranking: #101
- Resistance: $1.71443911, $1.7842199, $1.88421058
- Support: $1.7842199, $1.65079401, $1.45190310
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Kyber Network Price Analysis: A Ranging Market
The 20th and 21st deadlock markets were at the $1.7842199 Resistance level. This Resistance level has now become the market’s new support level. The next trading session will likely be bearish (judging from the past market behaviour of consolidation and a slight rise in the value of the coin).
Kyber Network Price Analysis: Information From the Indicators
The Relative Strength Index (RSI) shows a steadily rising signal line over a space of two months. The signal line is measuring 60.66% while the RSI line is already at the threshold of the overbought zone. This means that a price rebound may be imminent. The 21 moving average and the 9 moving average are performing below the price action to confirm the uptrend sentiment. The two moving averages do not look like they will cross each other soon. Once they cross each other, that means the trend is swinging to the downside.
Kyber Network Price Analysis: KNC/USD 4-Hour Chart Outlook
The bulls are in the dominance of the trading session. According to the Relative Strength Index, both the signal line and the RSI line are in the strong zone of the indicator. The price action will soon reach $1.200000. But if the bears take the next trading session it may not lead to a downtrend. It may become a rebound and then the uptrend continues
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