Kyber looks close to bottom if not already been there. Been waiting for weeks for 200 SMA to Cross the 314 SMA. Looks very near. Little overhead resistance. Couple that with staking announcement any day now we might be looking for an rocket ship. Team looks good. Lot of players in the market but they standout for many reasons for big investors. Not saying it can...
Aside from the gruesome chop taking place in all the nooks and cranny of the financial world, some cryptocurrency has held its own.
I believe kyber is showing a strong base here in the USD pairing and in the short term I am looking for a target near the .54 price range.
KNC seems to be bouncing up and down in this area and ignoring the rest of the market ( to a certain degree ). We are still on track to 4 dollars by April 30th. I see 2 possible scenarios play out.
Bullish scenario. We bounce off support again and break up and out of this bull flag following the parabolic line that I've drawn some time ago ( linked ).
Bearish...
We are forming a bearish MacD cross on the daily chart right now so I expect some sort of correction soon. If we bounce off the green line which is a parabolic trendline we are all good. if we don't we are not in good shape. So far we are on track to 4 dollars by April 30th tho.
KNC is at a key "fork in the road" (pun intended).
One way leads to new ATH on coinbase and $1.00.
Other way leads to a Pump-n-Dump death march.
The bounce thus far resembles a nested pair of 12345's.
But it could also be an ABCDE correction before dropping.
The fib ratios however, strongly support the bull scenario.
$ 0.8034-8105 is the Decision zone and...
In the short term, there may be a correction to the downside but I believe that KNC will be roughly 4 Dollars in April. Depending on whether the bull market continues we could easily see KNC at 100 Dollars in 2021/2022.
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Between Mod duties and my own trading it is not easy to post.
I will do my best to update, or post new plot if this changes.
Kyber Network Coin recently added to Coinbase.
Thus the spike which looks like so many others.
"One Spike Wonder"? or will make another push?
This coin has been around for...
