Kyber Network (KNC) has been consolidating after a corrective pullback, holding key support at $0.28. With price trading in a bullish order block, traders are eyeing a potential rotation toward the $0.84 resistance if volume confirms the next move.
Kyber Network’s KNC token has been consolidating within a corrective phase after recently backtesting the point of control (POC). Price action suggests the correction is nearing completion as KNC trades in a bullish order block that may serve as the foundation for the next upward move. However, volume dynamics remain a critical factor, as momentum confirmation is necessary for a sustained bullish expansion.
Key Technical Points
- Critical Support at $0.28: A pivotal level that must hold to maintain bullish structure.
- Volume Weakness: Current decline in trading volume highlights the need for confirmation on the next move.
- Upside Target at $0.84: Resistance zone in focus if the bullish rotation is triggered.
After a volatile upward move earlier, KNC entered a correction phase, retesting the point of control before stabilizing. This corrective behavior aligns with broader market tendencies, where sharp expansions are often followed by consolidation or pullbacks before resuming trend direction. The presence of a bullish order block within this correction provides a structural base that could propel the next leg higher.
The $0.28 level has emerged as the most significant support. This region has already been tested and respected, suggesting active buyer interest at this price zone. Holding above $0.28 is essential for bullish traders, as a breakdown below this level would weaken the current structure and potentially extend the corrective cycle.
Volume, however, is the main missing piece at the moment. The decline in trading activity during the corrective move reflects reduced participation, which is common in consolidation phases. For KNC to rotate toward the highs, the next push upward must be backed by a noticeable increase in volume. Without this confirmation, any attempted breakout risks fading quickly, trapping early longs.
Should volume return and buyers reclaim momentum, the path toward $0.84 becomes increasingly probable. This resistance represents both a psychological barrier and a historical supply zone, making it a natural target for a bullish expansion. Breaking this level decisively could mark a trend continuation phase, opening up further upside opportunities.
What to Expect in the Coming Price Action
As long as KNC holds the $0.28 support, the technical bias remains bullish. If volume expansion accompanies the next move, traders can expect a rotation toward the $0.84 resistance in the short to medium term. A confirmed breakout from this zone would validate the broader bullish structure and likely attract stronger market participation.
Kyber Network’s KNC token has been consolidating within a corrective phase after recently backtesting the point of control (POC). Price action suggests the correction is nearing completion as KNC trades in a bullish order block that may serve as the foundation for the next upward move. However, volume dynamics remain a critical factor, as momentum confirmation is necessary for a sustained bullish expansion.
Key Technical Points
- Critical Support at $0.28: A pivotal level that must hold to maintain bullish structure.
- Volume Weakness: Current decline in trading volume highlights the need for confirmation on the next move.
- Upside Target at $0.84: Resistance zone in focus if the bullish rotation is triggered.
After a volatile upward move earlier, KNC entered a correction phase, retesting the point of control before stabilizing. This corrective behavior aligns with broader market tendencies, where sharp expansions are often followed by consolidation or pullbacks before resuming trend direction. The presence of a bullish order block within this correction provides a structural base that could propel the next leg higher.
The $0.28 level has emerged as the most significant support. This region has already been tested and respected, suggesting active buyer interest at this price zone. Holding above $0.28 is essential for bullish traders, as a breakdown below this level would weaken the current structure and potentially extend the corrective cycle.
Volume, however, is the main missing piece at the moment. The decline in trading activity during the corrective move reflects reduced participation, which is common in consolidation phases. For KNC to rotate toward the highs, the next push upward must be backed by a noticeable increase in volume. Without this confirmation, any attempted breakout risks fading quickly, trapping early longs.
Should volume return and buyers reclaim momentum, the path toward $0.84 becomes increasingly probable. This resistance represents both a psychological barrier and a historical supply zone, making it a natural target for a bullish expansion. Breaking this level decisively could mark a trend continuation phase, opening up further upside opportunities.
What to Expect in the Coming Price Action
As long as KNC holds the $0.28 support, the technical bias remains bullish. If volume expansion accompanies the next move, traders can expect a rotation toward the $0.84 resistance in the short to medium term. A confirmed breakout from this zone would validate the broader bullish structure and likely attract stronger market participation.
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Join the Free Trading Group
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Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
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— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.