Kyber Network Crystal v2/Tether (KNCUSDT) Market Overview: 2025-11-06

Summary
• KNCUSDT opened at $0.2783 and closed at $0.2871, rising from 0.2775 to 0.2923 intraday.
• Volume surged to 989,210 units, with turnover reaching $284,966, signaling strong participation.
• A bullish engulfing pattern formed mid-day, supporting a breakout from key support at $0.2790.
• RSI reached overbought territory near 70, indicating short-term momentum may pause or consolidate.
• Price stayed above the 20-period EMA for most of the session, suggesting continued upward bias.

Kyber Network Crystal v2/Tether (KNCUSDT) opened at $0.2783 on 2025-11-05 at 12:00 ET and closed at $0.2871 on 2025-11-06 at 12:00 ET. Intraday prices ranged between $0.2775 and $0.2923. The total trading volume across the 24-hour period was approximately 989,210 KNC, with notional turnover reaching $284,966.

Structure & Formations

KNCUSDT displayed a strong bullish reversal structure during the late ET hours of 2025-11-05, with a Bullish Engulfing pattern forming at $0.2791–$0.2805. This was followed by a clear breakout above the $0.2820 resistance level. The price found support at $0.2775–$0.2780, forming a base that appears to hold for several hours before a rally began. A notable 15-minute bearish Doji appeared at $0.2876, suggesting a potential pause in momentum.

Moving Averages

On the 15-minute chart, the 20-period EMA (Exponential Moving Average) ran consistently below the price for the majority of the session, affirming bullish momentum. The 50-period EMA lagged slightly, confirming a positive divergence. On the daily chart, the 50 EMA sits at $0.2797, suggesting a continuation of the recent uptrend. Price remains above the 100- and 200-period EMAs, indicating a medium-term bullish bias.

MACD & RSI

The 15-minute MACD crossed into positive territory early in the session and remained above the signal line, affirming bullish momentum. RSI reached a peak of ~70, signaling overbought conditions. While this suggests a potential pullback, it also reflects strong conviction in the bullish move. A positive divergence between price and RSI was observed as the price dipped to $0.2775 while RSI bottomed at ~35, hinting at a potential rebound.

Bollinger Bands

Price traded within a moderate expansion of the Bollinger Bands during the early session, with a clear move above the upper band occurring after 03:00 ET on 2025-11-06. This suggests a breakout in a bullish direction. Later, the bands began to contract as volume decreased slightly, indicating a possible consolidation phase ahead. The current price of $0.2871 is positioned near the upper half of the bands, suggesting the move could continue unless resistance at $0.2923 is tested.

Volume & Turnover

The highest volume spike occurred around 03:15 ET with 417,937.2 KNC traded, coinciding with the formation of a key bullish candle. Total volume reached 989,210 KNC, while turnover reached $284,966. A divergence appears in the latter half of the session as volume decreases, but price continues higher, which may indicate a temporary exhaustion of bullish momentum.

Fibonacci Retracements

Applying Fibonacci levels to the recent 15-minute swing from $0.2775 to $0.2923, key retracement levels at $0.2828 (38.2%) and $0.2876 (61.8%) were both tested and held, respectively. On the daily chart, a major Fibonacci level at $0.2860 appears to act as a minor support, reinforcing the idea that the current rally is structurally sound and has room for further upside.

Backtest Hypothesis

Given the presence of a confirmed Bullish Engulfing pattern at the start of the rally, it would be valuable to backtest a strategy that buys KNCUSDT on the close of the engulfing candle and holds for five days. This approach assumes the signal is strong enough to capture a meaningful portion of the upward move. A backtest would need to be conducted using daily OHLC data, as the Bullish Engulfing signal for KNCUSDT could not be resolved in the current data format. If a corrected symbol such as "BINANCE:KNCUSDT" is provided, the backtest can be initiated immediately. Alternatively, using locally derived OHLC data to identify the pattern would also work, but requires additional data retrieval steps.