Kyber Network Crystal v2/Tether Market Overview

Summary
• KNCUSDT opened at 0.3044, reached 0.3136, and closed at 0.3049 with a 24-hour volume of 1.47M.
• Volatility increased midday, with a sharp pullback toward 0.3004 before closing near 0.3050.
• RSI and MACD showed mixed momentum with overbought conditions early, followed by bearish divergence.
• Bollinger Bands expanded in the final hours, indicating rising uncertainty ahead.
• A bullish engulfing pattern failed to hold, leading to a consolidation phase.

KNCUSDT opened at 0.3044 on 2025-11-08 12:00 ET and closed at 0.3049 on 2025-11-09 12:00 ET. The 24-hour high was 0.3136, and the low was 0.2947. Total volume reached 1,474,887.8, with a notional turnover of approximately $442,145. The pair has shown a volatile path, bouncing between 0.3136 and 0.2947, with mixed momentum across key indicators.

Structure & Formations

The 24-hour candlestick pattern for KNCUSDT displayed a volatile range between 0.2947 and 0.3136, with a key support level forming around 0.3004–0.3022 and resistance at 0.3060–0.3070. A notable bearish reversal pattern emerged around 02:45 ET with a high of 0.3029 and close at 0.2993, followed by a gradual recovery. A failed bullish engulfing pattern was observed around 08:15 ET, failing to hold above 0.3080. A Doji at 05:00 ET (0.2982) indicated indecision in the market, and the price remained in a tight consolidation phase afterward.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart showed a crossover at 0.3050 around 10:30 ET, indicating a potential shift in short-term momentum. On the daily chart, the 50-period MA is above the 100-period and 200-period MAs, suggesting a longer-term bullish bias, although the 24-hour close remains near these averages.

MACD & RSI

The MACD line crossed above the signal line in the morning, forming a bullish crossover, but failed to maintain positive momentum by late afternoon as the histogram contracted. RSI reached overbought levels of 63–68 around 08:15–09:00 ET, then dropped to 48–50, indicating a possible short-term bearish reversal. A bearish divergence formed between the RSI and price action as the price rose to 0.3136 but RSI declined, suggesting weakening buying pressure.

Bollinger Bands

The Bollinger Bands expanded significantly during the price swing from 0.2947 to 0.3136, indicating increased volatility. The price moved from below the lower band to the upper band during the 06:30–08:15 ET rally, then fell back into the midband range by 12:00 ET. The contraction of the bands after 10:00 ET suggested a period of consolidation, with the price hovering near the middle band at 0.3049.

Volume & Turnover

Volume spiked during the 08:15–08:45 ET rally, with the 08:15 ET candle alone accounting for 140,275.7 units of volume. The turnover surged during this period, confirming the rally. However, after 10:00 ET, volume and turnover decreased, signaling reduced market interest. A divergence was observed between the price and volume during the 02:45–03:30 ET decline, as the price dropped significantly while volume remained moderate.

Fibonacci Retracements

Applying Fibonacci retracement levels to the 24-hour swing from 0.2947 to 0.3136, the 38.2% level is at 0.3040 and the 61.8% level at 0.3004. The price closed near 0.3049, just above the 38.2% level, suggesting it may test the 0.3040 support in the next 24 hours. The 50% retracement level is at 0.3042, where the price spent time between 12:00–13:00 ET.

Backtest Hypothesis

The observed bullish engulfing pattern around 08:15 ET failed to hold, which could inform a backtest strategy focused on identifying and validating the efficacy of such patterns in KNC/USDT pairs. A reliable backtest would require consistent symbol formatting, such as “KNC/USDT” or “BINANCE:KNCUSDT,” to retrieve historical pattern data. With the correct identifier, a 24-hour holding-period backtest from 2022-01-01 to 2025-11-09 could validate whether the bullish engulfing pattern historically provides a positive expected return. This could help refine the timing of entries and exits in future volatility-driven strategies.