#CryptoTrading. #Signal🚥.

📊Technical Analysis (1 hour) $KNC /USDT

1. Price Action and Trend:

• The chart shows a significant price increase from around $0.39 to a peak of $0.74, after which there was a sharp drop to $0.55.

• The current level ($0.558) is approaching a recent local high, which may indicate resistance.

2. Bollinger Bands (BOLL):

• The price has broken through the upper limit (UP: 0.6112), indicating overbought conditions before the decline. It is now returning to the middle line (MB: 0.3842), which may signal consolidation or further decline.

3. Volume:

• A significant increase in volume (up to 272M) coincided with the price peak, confirming a strong move. The current decrease in volume (179K) may indicate a decrease in interest in the asset.

4. MACD:

• DIF (0.0657) exceeds DEA (0.0344), and MACD (0.0313) is positive, signaling bullish momentum. However, a sharp drop in price may change the dynamics if MACD crosses the zero line downwards.

5. Stochastic RSI (STOCHRSI):

• STOCHRSI (71.1596) and MASTOCHRSI (87.0912) indicate overbought conditions before the peak. The current decline to 50 may indicate a neutral zone, but a crossover of the lines is needed to confirm the signal.

⚠️Summary: The asset is showing a correction after a sharp increase. The current resistance level is $0.558-$0.624, support is $0.39. It is recommended to monitor the volumes and MACD/STOCHRSI intersections to confirm further movement. If the price breaks the resistance with increasing volume, further growth is possible; if not, support testing is possible.