KNC/USD Trades Around $0.908; Recovery May Take Time

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The Kyber Network price prediction shows that KNC is trying to recover from the intraday low of $0.905 amidst the improved market sentiments.

Kyber Network Crystal Prediction Statistics Data:

Kyber Network Crystal price now – $0.908
Kyber Network Crystal market cap – $147.6 million
Kyber Network Crystal circulating supply – 164.8 million
Kyber Network Crystal total supply – 222.3 million
Kyber Network Crystal Coinmarketcap ranking – #158

KNC/USD Market

Key Levels:

Resistance levels: $1.50, $1.55, $1.60

Support levels: $0.50, $0.45, $0.40

KNCUSD – Daily Chart

KNC/USD may regain ground as the coin moves to cross above the 9-day moving average. Currently, KNC/USD is changing hands at $0.908 as it is down by 1.72% after touching the daily high at $0.944. Despite the slight recovery, the Kyber Network price is likely to move sideways as the technical indicator implies or face a downtrend if the 9-day moving average remains below the 21-day moving average.

Kyber Network Price Prediction: Kyber Network (KNC) May Likely Trend Downwards

The Kyber Network price remains within the 9-day and 21-day moving averages as seen on the daily chart. Meanwhile, a sustainable move above $0.944 is needed to improve the technical picture and to set the bullish ball rolling for the coin.

More so, KNC/USD may trend downwards if the price crosses below the important support level of $0.85. This particular level has been tested as support on several occasions but once this is out of the way, the downside is likely to gain traction with the next focus toward the support levels of $0.50, $0.45, and $0.40. Meanwhile, moving toward the upper boundary of the channel could hit the resistance levels of $1.50, $1.55, and $1.60 respectively.

Against Bitcoin, the Kyber Network keeps moving around 4420 SAT below the 9-day and 21-day moving averages. After the coin touches the daily high at 4541 SAT today, the coin later retreated below the moving averages. Meanwhile, the coin may head to the downside if the sellers increase the selling pressure on the market, and the Kyber Network price could drop to 2300 SAT and below.

At the moment, the technical indicator Relative Strength Index (14) remains within the oversold region, which may keep the coin on the downside. On the other hand, if the coin crosses above the 9-day moving averages and heads to the north; the resistance level could be located at $7400 and above.

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