Market Overview for KNCUSDT: Volatility and Potential Rebound on the Horizon

Summary
• Price fell from 0.2468 to 0.2389, breaking key support at 0.238.
• Strong volume and turnover confirmed the bearish move.
• RSI and MACD signal oversold conditions, hinting at potential short-term bounce.
• Volatility surged post-3:00 AM ET with wide 5-minute ranges.
• A bullish engulfing pattern may form near 0.2375 if buyers step in.

Kyber Network Crystal v2/Tether (KNCUSDT) opened at 0.2368, hit a high of 0.2468, and fell to a low of 0.2369, closing at 0.2377 at 12:00 ET. Total 24-hour volume reached 3,174,212.0, with $789,449.6 in turnover.

Structure & Formations

The price saw a sharp decline after breaking the key support at 0.238, which was followed by a pullback toward 0.2375. A bearish breakout was confirmed with a large volume spike. A potential bullish engulfing pattern appears near 0.2375, which could signal a short-term rebound if buyers re-enter.

Volatility and Momentum

Bollinger Bands widened significantly after 3:00 AM ET, reflecting increased volatility. RSI dropped to oversold territory, and MACD turned negative, confirming bearish momentum. However, RSI hovering near oversold levels may suggest a short-term pullback.

Volume and Turnover Analysis

The most significant volume spike occurred around 3:00 AM ET when the price fell from 0.2468 to 0.2415, confirming the bearish move. Turnover surged in tandem with volume, showing a strong distribution phase. Divergence between volume and price near the 0.238–0.2375 level suggests potential buying interest.

Fibonacci Retracement Levels

A Fibonacci retracement of the swing from 0.2369 to 0.2468 shows key levels at 0.2439 (38.2%), 0.2414 (50%), and 0.2388 (61.8%). The recent pullback stalled near the 61.8% level, indicating that this area may serve as a short-term floor or pivot.

Forward-Looking View and Risk

KNCUSDT appears to be consolidating near 0.2375–0.2378 after a sharp selloff. A close above 0.238 could trigger a test of 0.239–0.240 as resistance. However, the bearish bias remains intact unless a strong reversal develops. Investors should watch for a failure to hold above 0.2375, which could extend the downside.