- The KNC price closed the previous day’s trade at INR 428.36 with a market capitalization of INR 9.19 Cr and a circulating supply 17,78,09,349.53 KNC
- The asset is rising high like a monster and appears to be primed to form new highs every new day until it reaches above INR 500
KNC Price Comparison Table
|Crypto-Asset||Start Month Price||Mid Month Price||End Month Price||% Change*|
|Kyber Network(KNC)||INR 258.05||INR 350.70||INR 422.68||+73.28%|
*As of 27-April-2022
Kyber Network (KNC) Technical Analysis at a Glance
Kyber Network since the beginning maintained a significant uptrend including a couple of huge pullbacks. The price is on its way forming the 4th impulse wave which woefully may result in a drastic fall to the lower support. However, before the fall, the price is expected to record higher levels close to INR 7. Yet the possibility of a strong rebound before the lower support is pretty high but eventually, it may be just a short-lived spike.
|Short-Term||The KNC price is yet to reach the peak and hence may continue to surge high until it smashes the target|
|Mid-Term||A significant buying volume has been accumulated which may help the price to maintain a strong uptrend|
|Long-Term||The price appears to have reached the peak of the current cycle and hence a pullback may be fast approaching|
Additional Read: What is Kyber Network?
Technical Indicators & Pivot Levels
|Technical Indicators||Value(1D / 1M)||Action (1D / 1M)|
|Relative Strength Index(RSI)||70.33 / 100||Buy / Overbought|
|MACD(12,26)||0.44 / 0.85||Buy / Buy|
|Average Directional Index(ADX)||38.40 / 43.58||Buy / Buy|
|Bull-Bear Power||1.22 / 5.09||Buy / Buy|
|Moving Average(MA)-50||INR 281.02||INR 81.17||INR 21.44|
|Moving Average(MA)-200||INR 128.64||INR 19.91||INR 5.36|
|Support||INR 423||INR 379||INR 247|
|Average True Range(ATR)||0.54||0.868||0.542|
The KNC price is extremely bullish until the end of the month and could continue ranging high since the beginning of May trade. However, most of the indicators are surging high flashing a huge buy signal and with significant strength. Therefore the price may reach the target at the earliest to mark new highs.
On the other hand, the long term forecast is pretty uncertain. Mainly, the RSI has struck the overbought position and is preparing for a deep dive. Also, the asset is highly volatile and hence the price may flow in the direction of the volume induced.
Additional Read: Top Crypto News Today
KNC Price and Technical Analysis for April-July
- The KNC price currently is extremely bullish and primed for another 15% upswing in the next upcoming fortnight
- However, the price may face a huge rejection after hitting the upper resistance as the pattern it is swinging is the ascending broadening wedge
- The price is on the verge to form the 4th wave within the broadening wedge which may be primed to drop to the lower support
- Moreover, the price may slice through the lower support and drop close to INR 80 to INR 100
- Further after a short retest, the price may eventually breach these levels and ignite a recovery ahead
Factors Affecting KNC Price
- Kyber Network Ignites a Bull Run After A Couple of Integrations with Uniswap v3 and Avalanche Rush Phase 2 in the first week of April. Apart from this, the KyberSwap enables trading across 10 different networks like Ethereum, Polygon, BSC, etc.
- The Kyber team proposed a new upgrade to the existing Kyber Network Crystal to create a new version called Kyber Network Crystal v2 migrating the existing KNC tokens. However, token migration on Coinbase failed which is closely watched to resolved at the earliest
How to Invest in Kyber Network(KNC)
Investing in Kyber Network is very simple on CoinDCX, where you get the best deals in the market. Just download the CoinDCX App on your smartphone and follow the further instructions. Once your details are verified, fund your wallet and buy KNC
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Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. In case you have any queries, write to [email protected].
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