Market Overview for Kyber Network Crystal v2/Tether (KNCUSDT): September 21, 2025

• KNCUSDT dropped 3.68% from $0.3753 to $0.3698 over 24 hours, with heavy selling pressure post 19:00 ET
• A key support zone appears near $0.3695–$0.3700, with a bearish breakdown below the 50-period MA
• Volatility surged after 10:00 ET as the price traded within a descending channel and hit a 24-hour low
• Volume spiked during the sell-off phase, confirming bearish momentum with no significant divergence
• The RSI approached oversold territory, hinting at a possible short-term bounce, though the broader trend remains bearish

Kyber Network Crystal v2/Tether (KNCUSDT) opened at $0.3753 on September 20, 2025, at 12:00 ET and closed at $0.3698 at 12:00 ET on September 21, reaching a high of $0.3764 and a low of $0.3670. The 24-hour trading volume was 607,900, with a total turnover of $216,380. The price closed below both the 20 and 50-period moving averages, signaling bearish short-term pressure.

Structure & Formations

The price action over the past 24 hours formed a descending channel pattern, with resistance near $0.3750 and a critical support cluster at $0.3695–$0.3700. A bearish breakdown occurred as the price failed to hold above the 50-period moving average and closed below the 20-period line. A notable bearish engulfing pattern appeared at 19:00 ET, confirming the downward shift in sentiment. A doji near $0.3700 at 03:00 ET suggests potential short-term indecision but has yet to trigger a reversal.

Moving Averages

On the 15-minute chart, the price has remained below both the 20-period and 50-period moving averages, which currently sit at $0.3747 and $0.3752, respectively. The 50-period MA acted as a dynamic resistance level that the price failed to breach during the morning hours. Daily moving averages (50, 100, 200-period) are not provided for this specific window, but the short-term bearish bias is clear, with the price likely to test the 50-period daily MA as support.

MACD & RSI

The MACD turned negative and remained below the signal line after 19:00 ET, confirming bearish momentum. The histogram displayed a steady contraction in bullish energy. The RSI reached oversold territory around 09:30 ET, hitting a low of 27.8, indicating potential for a short-term bounce. However, the RSI has not confirmed a bullish divergence, which suggests the oversold condition is more likely to be a retracement within a larger downtrend than a reversal.

Bollinger Bands

Volatility expanded significantly between 10:00 and 13:00 ET, with the Bollinger Band width increasing from approximately $0.0025 to $0.0038. The price closed near the lower band at $0.3698, suggesting a potential short-term bounce. However, with the 20-period moving average also acting as a ceiling, the likelihood of a strong rebound is tempered unless the price breaks above $0.3720.

Volume & Turnover

Trading volume surged during the critical 19:00–22:00 ET period, peaking at 16,700.8 units, confirming the bearish breakdown. Notional turnover followed a similar pattern, with the largest spike occurring at 09:30 ET as the price dropped from $0.371 to $0.3684. The lack of divergence between price and turnover suggests that the selling pressure is broad-based and not concentrated in a few large trades, which increases the likelihood of a continuation in the near term.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 15-minute swing from $0.3764 to $0.3670, key levels include 38.2% at $0.3717 and 61.8% at $0.3695. The price appears to have found a temporary base at $0.3695–$0.3700, aligning with the 61.8% retracement level. A break below this level would likely target the next Fibonacci level at $0.3680, reinforcing the bearish bias.

Backtest Hypothesis

The backtest strategy described focuses on identifying bearish engulfing patterns followed by a close below the 20-period moving average, with volume confirmation. Given the recent price action, this scenario was confirmed at 19:00 ET. A sell signal would have been generated at that time, with a stop-loss placed at $0.3730 and a target at $0.3670. Over the next 24 hours, traders may test the $0.3695–$0.3700 support zone, with a breakout likely confirming the next phase of the trend.