Kyber Network is bouncing from the strong support, indicating a bullish reversal from Elliott wave perspective.
Cryptocurrency Kyber Network with ticker KNCUSD made a massive decline in the past year, but it can be seen in three legs A-B-C, which is a corrective movement as we already mentioned and shared back on November on our tradingview channel CLICK HERE.
Well, in today’s update we want to highlight sharp reversal and strong bounce from projected support zone with broken trendline connected from the highs that signals for a bullish reversal. So, we believe that KNCUSD can see more gains in upcoming weeks, especially if jumps back above 1.0 first bullish evidence level, just be aware of short-term corrective pullbacks within uptrend. Bullish confirmation level is only above 2.0 region.
All the best in 2023!
Interested in forex? USDCNH Consolidating Within Downtrend. Check our chart HERE