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.
![Kyber Network Is Bouncing From Strong Support KNCUSD Daily Chart](https://cdn1.wavetraders.com/wp-content/uploads/2023/01/daily-kncusd-jan-27-2023.png)
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