Kyber Network (KNCUSD) has been trading within a Channel Up since the January 06 low, supported by the 1D MA50 (blue trend-line). Since April 08, it has been struggling to break emphatically above the 4.4000 Resistance. That was the level where April 10 and May 07 2021 made a Double Top and rejected the price back to the 1.1000 Support.
The current Channel Up seems to be quite similar (so far) to the one that led to the April/ May 2021 Double Top rejection. Its invalidation level then was on the last Higher Low of the Channel Up. On the current pattern, that level is around 2.8000. A break below it, would most likely start a correction towards the Support Zone. As long as the price is above the invalidation line, we are most likely to test the 6.1000 All Time High of January 2018. A weekly closing above it will then target 9.0000 (1.5 Fibonacci extension).
Nice to see we broke the 4.4 resistance and it has now became support. I believe this will can hit $6-9 as it is vastly undervalued compared to similar DEX platforms while providing multiswaps and having 10 chains to perform token swaps on.
petrichors
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Thanks for sharing. KNC appears to have solid underpinning fundamentals.
HAMED_AZ
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Well done
Solldy
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It's a great time to buy. Thanks for noticing. Special thanks for the legible chart, good style.