Market Overview: KNCUSDT Shows Strong Bullish Momentum Amid Rising Volatility

Summary
• KNC/USDT tested key support at $0.2631–0.2625 before rebounding with bullish momentum.
• Volatility increased during a late-session rally, with price surpassing the 0.266–0.267 range.
• MACD crossed into positive territory, while RSI suggests potential overbought conditions near 0.2696.
• Bollinger Bands showed a midday contraction, followed by a price expansion above the upper band.
• A strong bullish engulfing pattern formed near 0.2664, reinforcing near-term optimism.

Kyber Network Crystal v2/Tether (KNCUSDT) opened at $0.2643 on 2025-12-08 12:00 ET, reaching a high of $0.2716 and a low of $0.2614 before closing at $0.2708 on 2025-12-09 12:00 ET. Total 24-hour volume was 506,782.1 KNC, with $132,784.9 in notional turnover.

Structure & Formations

Kyber Network Crystal v2/Tether traded in a broad consolidation pattern during the early part of the day before breaking decisively higher. Key support levels at $0.2631–0.2625 held during the afternoon dip, and price responded with a strong rebound into the evening.

A bullish engulfing pattern formed at $0.2664–0.266, signaling potential continuation of the upward move. Resistance appears to be forming in the $0.2696–0.2701 range, with a 61.8% Fibonacci retracement of the earlier downward swing aligning closely with the 0.2696 level.

Moving Averages

On the 5-minute chart, price closed above the 20-period and 50-period moving averages, indicating near-term bullish control. Daily moving averages, including the 50 and 200-period lines, were retested during the afternoon correction but not decisively broken, suggesting medium-term buyers remain active.

MACD & RSI

The MACD crossed into positive territory in the late afternoon, with a strong green histogram confirming the bullish divergence. RSI surged above 70 during the rally, suggesting price may be approaching overbought territory. However, given the overall bullish trend, this may reflect strong conviction rather than immediate exhaustion.

Bollinger Bands

Volatility contracted during the midday period, forming a narrowing of Bollinger Bands. Price then broke decisively above the upper band in the late afternoon, suggesting a potential continuation of the rally. The move above the upper band also aligns with a breakout of recent resistance, adding conviction to the bullish bias.

Volume & Turnover

Volume surged during the late afternoon and evening hours, particularly on the move above $0.266 and $0.2696. Notional turnover also increased sharply during these periods, supporting the notion of strong buying interest. No significant divergences between price and volume were observed, indicating participation remained aligned with the price action.

Fibonacci Retracements

A key 61.8% Fibonacci retracement of the prior bearish swing aligned with the $0.2696 level, which price tested during the late session. This level now appears to be transitioning into a potential support-turned-resistance zone. On the 5-minute chart, the 38.2% retracement at $0.2665 coincided with a key consolidation zone, further reinforcing its importance.

KNC/USDT appears poised to test the $0.2716–0.2725 range over the next 24 hours, with volume and momentum indicators supporting the bullish case. However, a pullback toward the $0.266–0.267 area could present a buying opportunity for those aligned with the trend. Investors should remain cautious of overbought conditions and watch for any breakdowns below key support at $0.2648–0.2635.