KNC is currently trading at $1.13 after a massive crash on September 3. The digital asset struggles to recover, but a recent buy signal could be the spark that bulls need. Kyber Network was trading as high as $2.04 on August 14 but plummeted to $1.04 just 22 days later, a 48% loss that clearly shows bears are in full control in the short and mid-terms. KNC/USD 12-hour chart While almost everything is looking quite dull for KNC, a strong buy signal was created by the TD Sequential indicator on the 12-hour chart. The MACD was on the verge of a bearish cross; however, the recent price action seems to be holding it. KNC Holders Distribution Source: Santiment The buy signal is robust, thanks to an increase in KNC holders. According to the Holders Distribution chart provided by Sanbase, the number of holders with 1,000 KNC coins or more has increased over the past few days. Most notable, holders with at least 1,000,000 KNC coins increased from 17 to 19. KNC IOMAP Chart Source: IntoTheBlock The next primary resistance cluster is found at $1.28, according to the IOMAP chart. It seems that beyond this point, there aren’t that many resistance levels. We can also see a resistance level in the form of a double top at $1.34, and then the 50-MA and 100-MAs will most likely act as resistance levels. KNC/USD 12-hour chart bearish perspective On the flip side, it also seems that KNC has been forming a Head and Shoulders pattern. A clear breakout of the $1 neckline would be devastating for KNC, and it could push the digital asset as low as $0.50. Looking at the previous IOMAP chart, the price of KNC is, in fact, at high risk of falling below $1 as there isn’t a lot of support, at least in comparison with the massive resistance above. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next USD/CHF sits near session tops, around 0.9100 mark FX Street 2 years KNC is currently trading at $1.13 after a massive crash on September 3. The digital asset struggles to recover, but a recent buy signal could be the spark that bulls need. Kyber Network was trading as high as $2.04 on August 14 but plummeted to $1.04 just 22 days later, a 48% loss that clearly shows bears are in full control in the short and mid-terms. KNC/USD 12-hour chart While almost everything is looking quite dull for KNC, a strong buy signal was created by the TD Sequential indicator on the 12-hour chart. The MACD was on the verge of… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.