The Kyber Network Price Prediction: Settling Above Moving Averages
The Kyber Network price is expected to continue settling above the 9-day and 21-day moving averages as the coin heads towards the upside. Currently, the price of Kyber Network is at $0.66 with a market cap of $122.9 million. The circulating supply is 170.8 million, while the total supply is 228.7 million. Kyber Network holds the #177 position on Coinmarketcap.
KNC/USD Market Analysis
Key Levels:
Resistance levels: $0.80, $0.85, $0.90
Support levels: $0.50, $0.45, $0.40
According to the daily chart analysis, KNC/USD is likely to trade above the 9-day and 21-day moving averages and potentially cross above the upper boundary of the channel. The resistance level of $0.70 is currently being tested, and if buyers can push the coin above the moving averages, an upward movement may begin. Today, the price briefly touched $0.68 before retracing to its current level of $0.66.
Kyber Network Price Prediction: Next Direction
If the resistance at $0.70 gives way, Kyber Network price may cross and stay above the moving averages, leading to a potential bull run and creating a bullish trend. Buyers are showing strong commitment in the market, indicating a possible sharp rise in price. If the coin reaches the resistance level of $0.75, this could further strengthen the market and potentially reach resistance levels of $0.80, $0.85, and $0.90.
On the downside, a lower swing may retest the previous support below the moving averages. If bears take control, the price could drop to support levels of $0.50, $0.45, and $0.40. Additionally, if the 9-day MA crosses below the 21-day MA, it suggests a potential downside movement.
KNC/BTC Upside Potential
Against Bitcoin, Kyber Network price is moving towards crossing above the moving averages and reaching the resistance level of 2500 SAT. The market price is expected to close above this resistance level. However, if KNC/BTC slides and reaches the lower boundary of the channel, it may refresh lows under 2200 SAT and continue in a bearish direction towards major support at 1900 SAT and below. On the other hand, crossing above the upper boundary of the channel could result in hitting potential resistance at 2900 SAT or higher.
Alternatives to Kyber Network
The Kyber Network price is currently ranging as it tests the resistance level of $0.68. If buyers increase their pressure, it is likely to break above the upper boundary of the channel. Meanwhile, for those interested in Bitcoin mining alternatives, there is a high-potential new crypto presale called that simplifies mining mechanisms and has raised almost $600k so far in its ongoing presale.
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Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies.Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.
