KNC Technical Analysis: Reversal From $3 Plans To Undermine Recovery

KNC prices experience a bearish setback as the reversal from $3 cracks under $2.25 and plan to undermine the recovery with a support trendline fallout. Key technical points: KNC market value deflated by 22% in the last five days. The Bollinger bands showcase an expansion phase. The 24-hour trading volume of Kyber Network Crystal is $203 Million, indicating a fall of 18.09%. Past Performance of KNC With KNC buyers taking over the trend control on May 12th, the recovery phase started at $1.25 and gained momentum. The higher low formation led to the formation of an ascending trendline which propelled the market value 128% higher to reach the $2.75 mark. Finally, however, the anxious sellers close to $3 overtook the trend control to push the market price under $2.25. Source-Tradingview KNC Technical Analysis The KNC buyers retest the $2.25 fallout after finding a breathing room near the support trendline. However, the uptrend struggles to surpass it and projects a higher likelihood of support trendline fallout. The Bollinger bands display an expansion phase after the recent contraction near the 2.50 mark, where the price consolidated slightly. However, the recent increase in the gap shows a high-momentum downtrend which may break the market value under $2. The Stochastic RSI shows the K and D lines in an uptrend, but the bearish price action may influence an early bearish crossover. Furthermore, the MACD lines project a downfall o...