KNC/USD - Correction towards support before more uptrend.
Price is currently trying to find support and I believe we will likely re-test the $2.4 level before we can be confident on any new up-trend. Best to let price relax a bit before considering a position in KNC.
We are also in this massive channel and to me we seem to have completed a nice 5 wave structure. As such we can expect a longer ABC correction as indicated on the chart. But that will take some time to form. We can revisit this chart later for that.
Best to be patient with KNC and maybe there are other coins to spark an interest while we consolidate here.
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