💎 KNC is undeniably on our watchlist. After a notable bounce from the demand zone at $0.63, it effortlessly surpassed the supply at $0.68. Currently, KNC is navigating through the subsequent supply zone, inching closer to a key resistance point. Should KNC face a rejection at this supply, it might retrace to the nearby demand at the $0.68 mark, which previously acted as a supply.
💎 However, if KNC manages to breach the resistance swiftly, we can anticipate a significant bullish rally, potentially targeting the Bearish OB and the robust supply zone.
💎 On the flip side, if KNC struggles to maintain its stance in the demand zone during a retest, there's a heightened possibility of it breaking below. In such a scenario, KNC might gravitate towards the Bullish OB zone. This area is pivotal for KNC; holding firm here is crucial. Failing to do so could lead KNC on a steeper descent towards the strong support zone.