Watching for evidences wave 2 finished 0.702.
Clearing 0.902 we will focus to the upside for wave 3 looking for price to aim for the 1.618 projection multiple between waves 3 and 1.
KNC lovers probably won't like this analysis but it's time to face the truth.
As the bear market continues it is very likely that KNCUSD will do a full retrace before the accummulation phase.
If it had to happen the price would drop over 98 % from 2022 highs. Actually it wouldn't be anything an extraordinary as we know altcoins can drop even 99 % in the bear...
This looks like beautiful consolidation pattern which will resolve to the upside. Right now there is a nice little fractal on 1h time frame. Great chance to get up that risk reward ratio.
Kyber Network Crystal v2 / KNCUSD is posting a bullish fractal, common in the last 11 months.
The wide pattern is a Rectangle whose top has been hit on both prior bottom rallies.
Buy and target 0.96000.
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Rsi is into the good area.
Cup with handle formation and retest has done.
MACD is going to nice area to buy.
If there is no problem BTC's way that means BTC goes horizontal with smooth moves, our pattern will work.
That is not a financial advise, only my idea. It's up to you joining that.
Hello Traders,
As we can see that KNCUSDT is in a slow bleeding phase we can expect this that it will come to the lower resistance then we will have a long position to wait till it comes to support and then follow the chart pattern.
BINANCE:KNCUSD.P Technical Analysis,
Fib Retracement + Resistence zone
Short Term Targets : 0,65/ 0,60 / 0,55
If we can see Bitcoin can Broke all support zone we keep our knc Targets.
