KNC coin price rises higher with the support of a curve but shows a resistance trendline in place. Which side will win as price action fills up the pattern?

Key technical points:
<ul>
 	<li style="font-weight: 400">The KNC price struggles to surpass the $4 mark.</li>
 	<li style="font-weight: 400">In addition, the market price dips below the 50-day EMA.</li>
 	<li style="font-weight: 400">Finally, the 24-hour trading volume of Kyber Network Crystal is $842.5 Billion, marking a 369.04% rise.</li>
</ul>
<h2>Past Performance of KNC</h2>
KNC coin prices retest the $3.75 mark after facing rejection from the $4 level due to increased selling activity. The recovery accounts for a price jump of more than 20% in the last three months. Moreover, the recent support from the 50-day EMA fuels the bullish rally and creates two bullish engulfing candles breaking above $3.75 with a 30% rise. 

<img src="https://s3.tradingview.com/snapshots/e/eIvUx5ka.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/eIvUx5ka/">Tradingview</a>
<h2>KNC Technical Analysis </h2>
KNC coin price shows a bullish recovery in motion starting from the $1 mark, resulting in the support curve formation providing multiple bullish reversal points. However, a resistance trendline in action keeps the bullish growth in check and gives the illusion of a wedge pattern. 

The crucial daily EMAs (50, 100, and 200 days) provide support to the corrections in the uptrend and maintain a bullish alignment. Hence, the EMAs reflect a solid underlying bullishness and increase the chances of a $4 breakout. 

RSI Indicator: The RSI slope faces another rejection from the overbought boundary in the daily chart after knocking down the 14-day SMA. Hence, the RSI regaining the overbought status will illuminate a buy signal.

MACD Indicator:  A bullish crossover of the MACD and signal lines in the daily chart reflects an increase in buying pressure and projects a high likelihood of upside continuation.

In a nutshell, the KNC technical analysis highlights the modified wedge formation and the high likelihood of post-retest reversal from the $3.75 mark.
<h2>Upcoming Trend </h2>
KNC coin price encounters a massive inflow wave with the $3.75 retest, increasing the chances of resistance trendline breakout. Therefore, the trendline breakout will alarm a buying signal with the potential to reach the $5 mark.

Contrary to the bullish doctrine, closing below the support curve or $3.35 will nullify the retest phase and result in a downfall below $3.

Support Levels: $3.50 and $3.35

Resistance Levels: $4 and $5

KNC Technical Analysis: KNC Buyers Remain Trapped Within A Wedge

KNC coin price rises higher with the support of a curve but shows a resistance trendline in place. Which side will win as price action fills up the pattern?

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: KNC Buyers Remain Trapped Within A Wedge

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