Market Overview for Kyber Network Crystal v2/Tether (KNCUSDT)

Summary
• Price swung between 0.2308–0.2344 on 5-min chart, with 0.2326 as key support.
• High volatility in final hours, with volume surging to 79,713.8 near session close.
• RSI indicated oversold conditions during dip, suggesting potential bounce.
• A large bearish engulfing pattern formed near 0.2301–0.2284, hinting at further downside.
• Bollinger Bands widened, signaling rising volatility and uncertain momentum.

At 12:00 ET–1, KNCUSDT opened at 0.2315 and reached a high of 0.2344 before closing at 0.2278 at 12:00 ET. The pair saw a 24-hour volume of 233,890.8 and a turnover of 54,560.21.

Structure & Formations

On the 5-minute chart, KNCUSDT formed a bearish engulfing pattern at the end of the session near 0.2284–0.2278, signaling strong downward pressure. Earlier, a bullish pattern was visible near 0.2326–0.2334, but it failed to hold as price broke below key support.

Moving Averages

Short-term moving averages (20/50) crossed bearishly during the late session decline. Daily moving averages (50/100/200) are not visible from this dataset, but the trend appears to have broken below key 50-period support levels.

MACD & RSI

MACD showed a bearish crossover as momentum weakened into the close, while RSI hit oversold territory below 30 for the first time during the 0.2278 close. This could indicate a potential bounce or a continuation of the bearish trend.

Bollinger Bands

Bollinger Bands expanded significantly toward the end of the session as volatility increased. Price closed near the lower band at 0.2278, suggesting potential for a retest of equilibrium levels.

Volume & Turnover

Volume spiked to 79,713.8 during the final hours, confirming the bearish move. Turnover followed the volume surge, with no divergence between price and volume, reinforcing the bearish signal.

Fibonacci Retracements

The drop from 0.2344 to 0.2284 aligns with a 61.8% Fibonacci retracement level, which could offer resistance if price attempts to rebound. A further decline below 0.2265 may target the 0.2248 level.

Price appears vulnerable to further downside, with the bearish engulfing pattern and strong volume suggesting momentum may continue. Investors should watch the 0.2284 level for potential short-term support and be cautious of a breakdown below 0.2265.