Market Overview for Kyber Network Crystal v2/Tether (KNCUSDT) – 2025-09-23

• KNCUSDT drifted lower, closing near the session low with bearish momentum.
• Volume surged during a key breakdown attempt but failed to confirm a reversal.
• RSI and MACD signaled weakening bullish momentum and bearish divergence.
• Price action suggested a short-term bear flag forming after the 0.3412 high.
• Volatility expanded as the price moved closer to 0.3326 support.

Kyber Network Crystal v2/Tether (KNCUSDT) opened at 0.3376 on 2025-09-22 at 16:00 ET and closed at 0.3385 on 2025-09-23 at 12:00 ET. The 24-hour high was 0.3436, and the low was 0.3324. Total volume amounted to 906,123.4, with a notional turnover of $295,853.8.

Structure & Formations

KNCUSDT showed a bearish consolidation pattern over the past 24 hours, forming a short-term bear flag within the 0.3436–0.3324 range. The 0.336–0.338 zone appeared to act as a key resistance cluster, while the 0.3326–0.3331 area offered initial support. A long lower shadow at 0.3328 on the 03:15 candle suggested a rejection at the lower end of the range. The 15-minute chart revealed a potential bearish engulfing pattern during the early morning hours, confirming the downward bias. A doji at 0.3385 on the 08:45 candle indicated indecision ahead of the 0.3405 high.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed bearishly in the morning, with price closing below both. This signaled a continuation of the bearish trend. The daily chart showed the 50-period moving average at 0.337, and the 200-period MA at 0.3345. Price action remained slightly below the 50-day line, suggesting continued pressure on the short-term bearish trend.

MACD & RSI

The MACD crossed bearishly in the morning, confirming the shift in momentum. The RSI dipped below 50 to a level of 34, indicating bearish strength. A bearish divergence between RSI and price was observed around the 04:30 candle, suggesting a potential continuation of the downward move. The RSI remained in oversold territory, suggesting possible short-term consolidation or a pullback before resuming the bearish trend.

Bollinger Bands

Volatility expanded throughout the session, particularly after the 03:15 candle as the price moved closer to the lower Bollinger Band. The 20-period Bollinger Bands showed a tightening pattern during the morning consolidation phase, followed by a breakout to the downside. Price closed near the lower band, indicating bearish pressure and potential for a continuation of the move toward the 0.3326 level.

Volume & Turnover

Volume surged during the breakdown attempt around 02:30–03:30, confirming the bearish shift. Total volume exceeded $100,000 during the 03:15–04:30 timeframe, with a notable increase in turnover when the price broke below the 0.3357 level. A divergence appeared between price and volume during the 06:00–08:30 timeframe, with lower volume despite a continued bearish bias, suggesting a possible exhaustion in the short-term downtrend.

Fibonacci Retracements

The 0.3436 high and 0.3324 low were used to draw Fibonacci retracements. The 61.8% level at 0.3378 acted as a key resistance area, while the 38.2% level at 0.3352 served as a potential support. Price action tested the 61.8% level twice, suggesting it may offer resistance again if the price retraces. On the daily chart, the 50% retracement at 0.3375 became a key watch point for potential trend resumption.

Backtest Hypothesis

Given the bearish momentum confirmed by the MACD crossover and the bearish divergence in RSI, a backtest strategy could focus on short entries near the 0.336–0.338 resistance cluster with a stop above the 0.3405 high. A target could be placed at the 0.3326–0.3331 support zone, with a trailing stop at the 50-period moving average. This strategy aligns with the consolidation pattern and the bear flag formation observed in the 15-minute chart. The RSI and MACD indicators suggest that the short bias remains intact, but traders should monitor for any breakout above the 0.3405 level, which would invalidate the setup.