Market Overview for Kyber Network Crystal v2/Tether (KNCUSDT): 24-Hour Analysis

• Price action showed a bullish bias on 15-minute chart with a 1.1% gain over 24 hours.
• Volatility expanded during early morning hours with high-volume breakouts above key resistance.
• RSI signaled moderate overbought conditions mid-day, with momentum cooling toward the end of the window.
• Bollinger Bands indicated contraction before 05:00 ET, followed by a strong breakout with high volume.
• Fibonacci retracement levels highlighted key support around 0.3252 and resistance near 0.3288.

Kyber Network Crystal v2/Tether (KNCUSDT) opened at 0.3258 on 2025-10-07 12:00 ET and closed at 0.3288 as of 2025-10-08 12:00 ET, reaching a high of 0.3329 and a low of 0.3227 during the period. Total volume across the 24 hours was 1,578,305.4 with a notional turnover of $513,739.00, showing increased participation in late trading hours.

Structure & Formations

Price action displayed a bullish bias on the 15-minute chart, forming a bullish engulfing pattern early in the morning as the price broke above the 0.3263 resistance level. A key support level was identified around 0.3252, with a second minor support at 0.3244. The late afternoon saw a bearish reversal pattern around 0.3316, which temporarily stalled the rally but failed to break below 0.3281.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed in a bullish manner just before 06:00 ET, signaling a potential trend continuation. On the daily chart, the 50-period and 200-period lines were in a bullish alignment, indicating a long-term positive bias. The 100-period MA acted as a temporary ceiling, limiting the upward move for a few hours.

MACD & RSI

MACD remained in positive territory for most of the 24-hour window, with a strong divergence seen between price and the MACD line in the late morning, suggesting potential exhaustion of the bullish momentum. RSI hit overbought levels around 70 early in the morning and gradually corrected downward, ending the period in neutral territory (55-65). This suggests the pair may consolidate before another attempt to break above 0.3300.

Bollinger Bands

Bollinger Bands showed a tightening pattern between 04:00 and 05:00 ET, signaling a potential breakout. The price then surged above the upper band with a high volume spike, confirming the bullish breakout. However, by the mid-afternoon, the price pulled back toward the mid-band, indicating a temporary equilibrium phase. The lower band remained near 0.3247, offering strong support during pullbacks.

Volume & Turnover

Volume saw a sharp increase starting at 04:15 ET, coinciding with the breakout above 0.3263. This was followed by a second volume spike after 08:45 ET, as the price tested and cleared the 0.3294 level. Turnover mirrored the volume pattern but showed a stronger correlation with bullish price action. A divergence between volume and price was observed after 11:00 ET, as volume declined while price pushed toward 0.3300.

Fibonacci Retracements

Applying Fibonacci retracement levels to the major 24-hour swing (from 0.3227 to 0.3329), key levels at 38.2% (0.3277), 50% (0.3276), and 61.8% (0.3275) were tested and held firm. These levels acted as temporary pivots, with the price consolidating around the 50% and 61.8% levels before pushing higher in the late afternoon.

Backtest Hypothesis

A potential backtest strategy could involve entering long positions on the 15-minute chart when the price closes above the 20-period moving average and the RSI exits overbought territory. Stop-loss placement could be set below the most recent swing low (0.3263), with a take-profit target at the 61.8% Fibonacci level (0.3275). This approach aims to capture short-term bullish continuation while managing risk through well-defined stop levels. The recent volume profile supports this strategy, as breakout confirmation was strong, and retracements have been contained within key levels.