KNC Volume Divergence
Updated
KNC is in an uptrend since January while almost all other crypto are in a bear trend.
Last 3 days is struggling to break its previous high at $4.25.
That's what i'm concerned is the volume. It is declining both it the daily and weekly while price is continue to raise.
A rejection is expected in this resistance $4.25 or around 161.8% Fibonacci extension.
If you intend to go long it's not a good idea to open your positions now; it's better to wait a clean break and flip of $4.25 before make your actions.
If this level doesn't break, the retracement may be as low as 50% or 38.2% Fibonacci levels.
Investing is a probability game.
Try for consistency, there is no perfection in this.
Not financial advice. Always do your own research.
Last 3 days is struggling to break its previous high at $4.25.
That's what i'm concerned is the volume. It is declining both it the daily and weekly while price is continue to raise.
A rejection is expected in this resistance $4.25 or around 161.8% Fibonacci extension.
If you intend to go long it's not a good idea to open your positions now; it's better to wait a clean break and flip of $4.25 before make your actions.
If this level doesn't break, the retracement may be as low as 50% or 38.2% Fibonacci levels.
Investing is a probability game.
Try for consistency, there is no perfection in this.
Not financial advice. Always do your own research.
Note
Check my update below
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