Market Overview: Kyber Network Crystal v2/Tether (KNCUSDT) Daily Analysis

• KNCUSDT declined by -6.33% over 24 hours, breaking below key support at 0.3302.
• High volatility seen with a range of 0.3381–0.3214, and volume spiked near 35k KNC.
• RSI(14) dipped below 30 suggesting oversold conditions, while MACD remained bearish.
• Price failed to hold above 0.3318, triggering a breakdown to 0.325 levels.

Kyber Network Crystal v2/Tether (KNCUSDT) opened at 0.3309 on 2025-10-08 12:00 ET and closed at 0.3273 on 2025-10-09 12:00 ET, with a high of 0.3381 and low of 0.3214. Total volume for the 24-hour period was 571,428.3 KNC, and notional turnover reached $183,835. The price action reveals a bearish continuation after failing to retest and close above 0.3318.

The 15-minute chart shows a breakdown from the 0.3365–0.3318 consolidation range, with a strong bearish engulfing pattern forming at 0.3362–0.3353 and a doji at 0.3339 indicating indecision. Support levels at 0.3273, 0.3245, and 0.3214 are now in focus, with 0.3245 serving as the first key psychological level. The 20-period and 50-period SMAs have shifted lower, aligning with the descending price trend.

MACD has remained bearish with a negative histogram, and RSI has dropped into the oversold region at 29, but it has not yet triggered a reversal signal. Bollinger Bands have widened significantly, indicating high volatility, and the price closed below the 20-period lower band at 0.3262. This suggests continued bearish pressure, but a bounce from the lower band could signal a short-term counter-trend.

Fibonacci retracement levels from the 0.3381–0.3214 swing show 38.2% at 0.3314 and 61.8% at 0.3248, both closely aligned with recent price action. The 0.3273 close suggests a potential test of the 61.8% level. Volume and turnover spiked during the breakdown phase, confirming the bearish move, but recent volume has declined, hinting at potential exhaustion.

Backtest Hypothesis: The strategy outlined involves entering short positions when KNCUSDT breaks below the 20-period SMA on the 15-minute chart, confirmed by a bearish engulfing pattern and a RSI dip below 30. A stop-loss would be placed above the 50-period SMA, with a take-profit at the next Fibonacci level. The backtest would evaluate how often this strategy would have captured bearish moves in the past 30 days, factoring in slippage and transaction costs.