Kyber Network Crystal v2/Tether Market Overview

• Kyber Network Crystal v2/Tether (KNCUSDT) declined in volatile trading, closing at 0.2854 after a sharp drop from 0.3043
• Strong bearish momentum emerged during early ET hours, with a sharp breakdown below key psychological support at 0.29
• High volume and expanding volatility suggest increased participation, but divergence in price and volume may hint at consolidation ahead

Kyber Network Crystal v2/Tether (KNCUSDT) opened at 0.2975 on 2025-10-29 12:00 ET, reached a high of 0.3043, and a low of 0.2836, closing at 0.2854 at 12:00 ET on 2025-10-30. Total traded volume was 2.25 million KNC, and notional turnover reached $645,000 (assuming USDT-based value).

Structure & Formations

KNCUSDT showed multiple bearish signals throughout the 24-hour period, including a large bearish engulfing pattern at 0.3006–0.2970 and a strong breakdown at 0.29. A temporary rebound to 0.3038 failed to hold, indicating 0.29–0.293 could form a new resistance zone. The price appears to have found a short-term floor near 0.284–0.285, marked by a rejection candle at 0.2836.

Moving Averages

On the 15-minute chart, the 20-period and 50-period SMAs crossed bearishly, forming a death cross. The daily 50 SMA sits above the 200 SMA, indicating a bearish trend. The 100 SMA is currently near 0.293, acting as a dynamic resistance level. The price appears to be trending below the 50/100/200 SMAs, suggesting a continuation of the downward bias.

MACD & RSI

MACD turned bearish during the breakdown phase, with the histogram diverging from price action toward the end of the session. RSI approached 30 on the daily chart and dipped below 30 on the 15-minute timeframe, indicating oversold conditions. This suggests a potential short-term bounce may be in play, though confirmation is needed above 0.293.

Bollinger Bands

Volatility expanded significantly during the sharp decline from 0.3043 to 0.2836, pushing the price well below the lower Bollinger Band. The contraction phase occurred during the brief rally around 0.3013–0.3038, indicating a potential reversal area. As of close, the price sits near the lower band, reinforcing the bearish momentum and signaling caution for short-term buyers.

Volume & Turnover

Volume spiked during the breakdown at 0.29 and again during the 0.2836 low, suggesting strong selling pressure. However, volume declined during the rally near 0.293–0.295, indicating weak conviction among buyers. The divergence between volume and price during the consolidation phase near 0.291–0.294 may hint at a potential reversal or consolidation ahead.

Fibonacci Retracements

Key Fibonacci levels include 0.296 (38.2%), 0.291 (61.8%), and 0.286 (78.6%). The price appears to have rejected at 0.296, with a failed attempt to retest 0.291. A potential target for further downside may lie at 0.284–0.285, aligning with the 78.6% level and the recent low. A break below 0.283 could test the 100% retracement level near 0.282.

Backtest Hypothesis

To confirm the bearish narrative, a backtesting strategy could be applied using the identified bearish engulfing patterns, such as the one observed at 0.3006–0.2970. A test of such signals from 2022-01-01 to today would help assess their predictive power, especially in conjunction with stop-loss placement below 0.29. Integrating volume and RSI divergence data could enhance the signal's reliability and provide a clearer risk/reward profile for short-term traders.