$KNC /USDT Short Setup After Rejection at Key Resistance

Pattern Formed: Double Top + Breakdown

Current Price: $0.6423

Volume Spike: Over 156M KNC traded in 24h

Timeframe: 15-Minute Chart

Why This Short Setup Looks Strong:

Price rejected sharply from $0.7550 resistance

Bearish structure forming with lower highs

Momentum fading after 100%+ rally

Heavy resistance + volume drop = clear sign of reversal

Short Trade Plan

Sell Entry Zone: $0.640 – $0.645

Stop Loss: $0.685 (Above recent top wick)

Take Profit Targets:

TP1: $0.4930 (mid-support zone)

TP2: $0.4000 (psychological round level)

TP3: $0.3265 (historical base support)

Technical Breakdown

RSI likely overbought, creating room for a cooldown

Volume divergence confirms sellers stepping in

Blue arrow on chart shows high-probability retracement zone

Trade Strategy Tip:

Break and close below $0.585 = strong confirmation for continuation. Use trailing stop once TP1 hits for risk-free gains.

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Trade here on $KNC