<strong><em>KNC prices showcase a downward trend under the influence of a highly bearish resistance trendline challenging the $1.20 support level.</em></strong>

Key technical points:
<ul>
 	<li>The market price has increased 10.58% over the past 24 hours.</li>
 	<li>The price action shows a bullish reversal from the $1.20 support level.</li>
 	<li>The 24-hour trading volume of Kyber Network is $116 Million, indicating a drop of 63%.</li>
</ul>
<h2>Past Performance of KNC</h2>
<a href="https://www.cryptoknowmics.com/news/knc-technical-analysis-reversal-from-3-plans-to-undermine-recovery/">KNC</a> prices remain under the bearish influence after the recent reversal from the 200-day EMA, thanks to the resistance trendline. The trendline periodically provides a supply dump resulting in the fall to $1.20. However, buyers reclaim trend control with a surge in trading volume to recover 20% over the past 48 hours.

<img src="https://s3.tradingview.com/snapshots/h/hyMpb08s.png" alt="TradingView Chart" />

<strong>Source- </strong><a href="https://www.tradingview.com/x/hyMpb08s/" target="_blank" rel="noopener">Tradingview</a>
<h2><span style="font-weight: normal">KNC Technical Analysis </span></h2>
The bullish reversal from the $1.20 mark shows a lower price rejection and heads to reach the overhead resistance at the descending trendline. Hence, traders buying at the current market price can consider the $1.70 mark as an exit spot. The daily-RSI slope shows a bullish reversal from the oversold boundary to approach the 14-day SMA. However, the possibility of a continuation under the 30% barrier will increases as the 14-day average line maintains a falling trend.

The <b>MACD indicator </b>displays a bearish crossover but the reversal from $1.20 avoids an increase in the bearish spread. Moreover, the falling trend in the crucial EMAs displays a 100 and 200-day EMA on the verge of bearish crossover. Thus, the technical indicators show a halt in the bearish trend but the next supply has increased the chances of a $1.20 fallout. In a nutshell, the KNC technical analysis displays a bullish breather bringing a short-term buying opportunity.
<h2><span style="font-weight: normal">Upcoming Trend</span></h2>
Suppose the buying pressure pushes the above the resistance trendline; KNC buyers can expect the breakout rally to reach the $2 mark.

<strong>Resistance Levels:</strong> $1.70 and $2

<strong>Support Levels:</strong> $1.18 and $1

KNC Technical Analysis: Bearish Trendline Kicks Prices Under $1.50

KNC Technical Analysis showcases a downward trend under the influence of a highly bearish resistance trendline challenging the $1.20 support level.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

KNC Technical Analysis: Bearish Trendline Kicks Prices Under $1.50

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