KNC technical analysis shows a rounding bottom reversal from the $1.18 mark to surpass the overhead resistance trendline. Will the breakout rally reach $2?
<h3>Key Technical Points:</h3>
<ol>
 	<li>KNC prices have jumped by 8.93% in the last 24 hours.</li>
 	<li>The bullish reversal exceeds the long-coming resistance trendline.</li>
 	<li>The 24-hour trading volume of Kyber Network Crystal is $73.59 Million, indicating a hike of 271%.</li>
</ol>
<h3>Past Performance of KNC</h3>
The <a href="https://www.cryptoknowmics.com/news/knc-technical-analysis-bearish-trendline-kicks-prices-under-1-50/" target="_blank" rel="noopener">KNC</a> price action attempts to form a rounding bottom pattern with the bullish reversal from the $1.18 support level. The bullish reversal comes after a 50% drop in the market value under the resistance trendline influence. Additionally, the reversal rally surpasses the resistance trendline with a 4.87% jump on the 4th of July.

<img src="https://s3.tradingview.com/snapshots/m/m8B8FJcW.png" alt="TradingView Chart" />

Source - <a href="https://www.tradingview.com/x/m8B8FJcW/" target="_blank" rel="nofollow noopener">Tradingview</a>
<h2>KNC Technical Analysis</h2>
Over the last two days, the 15% bullish jump in the KNC prices surpasses the resistance trendline displaying a rise in buying pressure. Hence, the price action analysis takes a bullish point of view, indicating a potential bull run to the $1.5 mark.

The bullish trend in the fast and slow lines of the MACD indicator approaches the zero line with an increase in the bullish spread. Hence, the MACD indicator displays a rise in the underlying bullish sentiments.

The RSI indicator shows a gradual increase in the underlying bullishness as the  RSI  slope surpasses the halfway line. The bullish continuation comes after taking support from the 14-day average line. Hence, the technical indicators take an optimistic approach indicating a higher likelihood of a bull run.

In a nutshell, the KNC technical analysis forecasts an upcoming bullish trend ready to reach the $1.50 mark.
<h2>Upcoming Trend</h2>
The bullish breakout rally will launch the KNC prices above the $1.55 mark to reach the psychological mark of $2.

Resistance Levels: $1.55 and $2

Support Levels: $1.18 and $1

KNC Technical Analysis: Will KNC Prices Return To $2 This Month?

KNC technical analysis shows a rounding bottom reversal from the $1.18 mark to surpass the overhead resistance trendline. Will the breakout rally reach $2?

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: Will KNC Prices Return To $2 This Month?

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