Watch the descending triangle breakout
Updated
KNC looks really juicy, did hold very well during the current short Bearish trend against the rest of the market including king BTC! That's something worth mentioning, but what's the connection? I think early birds sensing the potential of ZKyber and recognising finally the advantages of kyberswap while it allso looks really more than great from a technical/Fundamental point of view
The price is above various weekly EMA supports, as we are since almost a year in a descending triangle, but with a tendency to break this to the upper side and to start an attempt to test the old ATH.
Fundamental reasons: 1. ZKyber (2nd layer DEX solution are currently being built, testnet is online already with 100x and some cool features), 2. Dynamic Liquidity Mining & dynamic trading routing is getting finally its attention it deserves! 3. Number of wallets is increasing.
If market keeps bullish I see a good chance to visit the old ATH on 5,7$
This is not a call or recommendation to buy or trade KNC. Please do your own research and never invest more than you can afford to lose
The price is above various weekly EMA supports, as we are since almost a year in a descending triangle, but with a tendency to break this to the upper side and to start an attempt to test the old ATH.
Fundamental reasons: 1. ZKyber (2nd layer DEX solution are currently being built, testnet is online already with 100x and some cool features), 2. Dynamic Liquidity Mining & dynamic trading routing is getting finally its attention it deserves! 3. Number of wallets is increasing.
If market keeps bullish I see a good chance to visit the old ATH on 5,7$
This is not a call or recommendation to buy or trade KNC. Please do your own research and never invest more than you can afford to lose
Note
KNC is trying to break out of the descending triangle.. to be continued..Note
As predicted, we're testing the descending triangle from the outside, should hold. Good news ahead. long term bullishness is being forged.
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