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The Kyber Network token has recorded only minimal gains, yet it has secured the second spot on the daily top crypto gainers list. Price action in this market has shown a limited willingness to move higher at this point. Let’s take a closer look at the market in more detail below.
KNC Statistics
Kyber Network Current Price:
Market Capitalization: $60.15M
Circulating Supply: 186.89M
Total Supply: 239.98M
CoinMarketCap Rank: 423
Key Price Levels
Resistance: $0.3500, $0.4000, $0.4500
Support: $0.3000, $0.2500, $0.2000
KNC Market Is Making Moves
Price action in the Kyber Network market appears to have gained upward momentum from the $0.3200 price level. As a result, the price candle for the previous session was bullish. The ongoing session has maintained this bullish sentiment, represented by a green price candle, with price action pushing through the 20-day Moving Average (MA) line.
The Stochastic Rate of Change (ROC) indicator lines are currently positioned below the equilibrium level. However, the terminals of these lines are now trending sideways. Technically, this suggests that price action may gain additional traction.
Kyber Network Stands a Good Chance of Gaining More Bullish Momentum
In the KNC 4-hour chart, the market’s short-term outlook reveals upward price action. Price activity has moved above most of the MA curves. Even the 50-day and 100-day MA lines appear to be converging for a crossover below the current price, which is likely attracting bullish attention.
Additionally, the SROC indicator lines have resurfaced above the equilibrium level after a brief dip, further reinforcing the potential for bullish momentum. This supports the view that upward forces are likely to dominate in the near term. As a result, we may see this market advance toward the $0.3500 price level in the short run.
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