Kyber Network Price Prediction for Today, October 6

Kyber Network Price Prediction for Today, October 6 – KNC Technical Analysis

Updated: 06 October 2023

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The Kyber Network price prediction may continue to settle above the 9-day and 21-day moving averages as the coin heads to the upside.

Kyber Network Prediction Statistics Data:

Kyber Network price now – $0.66
Kyber Network market cap – $122.9 million
Kyber Network circulating supply – 170.8 million
Kyber Network total supply – 228.7 million
Kyber Network Coinmarketcap ranking – #177

KNC/USD Market

Key Levels:

Resistance levels: $0.80, $0.85, $0.90

Support levels: $0.50, $0.45, $0.40

Kyber Network Price Prediction for Today, October 6 – KNC Technical Analysis — KNCUSD – Daily Chart

Looking at the daily chart, KNC/USD is likely to trade above the 9-day and 21-day moving averages to cross above the upper boundary of the channel. However, the cryptocurrency is now trying to create a higher ground above the resistance level of $0.70, and should the buyers push the coin above the moving averages, it may begin the upward movement. Today, an early trading session made the Kyber Network price touch the $0.68 level before retreating to where it is trading currently at $0.66.

Kyber Network Price Prediction: What Could be the Next Direction?

The Kyber Network price may cross and stay above the moving averages, if the resistance of $0.70 gives way, the bull run may come to focus, and the coin may create an additional bullish trend. Now, the bullish scenario seems to surface as buyers continue to post firm commitments into the market. According to the daily chart, traders could see a sharp rise in the market price. Therefore, if the coin reaches the resistance level of $0.75, this could further strengthen the market to $0.80, $0.85, and $0.90 resistance levels.

On the downside, a lower possible swing may likely retest the previous support below the 9-day and 21-day moving averages. However, if the bears manage to fuel the market, traders may expect a further drop to the support levels of $0.50, $0.45, and $0.40 respectively. On the other hand, the 9-day MA may cross below the 21-day MA, indicating that the market may head to the downside.

KNC/BTC Faces the Upside

Against Bitcoin, the Kyber Network price is moving to cross above the moving averages in other to reach the resistance level of 2500 SAT. Meanwhile, this resistance level is expected to effectively exceed so that the market price may end up closing above it.

On the contrary, if KNC/BTC slides and faces the lower boundary of the channel, it could refresh lows under 2200 SAT and a possible bearish continuation may likely meet the major support at 1900 SAT and below but if the coin crosses above the upper boundary of the channel, it could hit the potential resistance at 2900 SAT and above. However, if the buyer increases the pressure, the market is likely to give more bullish signals.

Alternatives to Kyber Network

The Kyber Network price is currently ranging as the price hits the resistance level of $0.68, and it is likely to break above the upper boundary of the channel if the buyers increase the pressure. Meanwhile, the Kyber Network price may continue to move bullishly if the coin struggles to cross above stay above the moving averages.

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