Lorenzo Stroe
Independent Analyst
- Kyber Network price had a breakout from an ascending triangle pattern on the 12-hour chart.
- KNC bulls have a target of $3.8 in the long-term with weak resistance ahead.
- The digital asset has a lot of bullish momentum behind it in the short-term.
Kyber Network price had a significant breakout in the past 72 hours from a key pattern. Several indicators show that KNC faces weak resistance ahead with a price target of about $3.8.
Kyber Network price on point to hit $3.8
KNC had a breakout above a key resistance level on the 12-hour chart from an ascending triangle pattern. Kyber Network has a price target of $3.8 in the long-term.
KNC/USD 12-hour chart
Using the height of the pattern as a reference point, KNC should jump towards $3.8. The In/Out of the Money Around Price (IOMAP) shows only one strong resistance area between $3.03 and $3.10. A breakout above this point should drive Kyber Network price towards the last high of $3.34 and then eventually to $3.8.
KNC IOMAP chart
On the other hand, KNC could drop towards the previous resistance trendline at $2.38.
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