KNC Technical Analysis: Bearish Trendline Kicks Prices Under $1.50

KNC prices showcase a downward trend under the influence of a highly bearish resistance trendline challenging the $1.20 support level. Key technical points: The market price has increased 10.58% over the past 24 hours. The price action shows a bullish reversal from the $1.20 support level. The 24-hour trading volume of Kyber Network is $116 Million, indicating a drop of 63%. Past Performance of KNC KNC prices remain under the bearish influence after the recent reversal from the 200-day EMA, thanks to the resistance trendline. The trendline periodically provides a supply dump resulting in the fall to $1.20. However, buyers reclaim trend control with a surge in trading volume to recover 20% over the past 48 hours. Source- Tradingview KNC Technical Analysis The bullish reversal from the $1.20 mark shows a lower price rejection and heads to reach the overhead resistance at the descending trendline. Hence, traders buying at the current market price can consider the $1.70 mark as an exit spot. The daily-RSI slope shows a bullish reversal from the oversold boundary to approach the 14-day SMA. However, the possibility of a continuation under the 30% barrier will increases as the 14-day average line maintains a falling trend. The MACD indicator displays a bearish crossover but the reversal from $1.20 avoids an increase in the bearish spread. Moreover, the falling trend in the crucial EMAs displays a 100 and 200-day EMA on the verge of ...