$KNC /USDT Pushes Higher: Momentum or Resistance?
$KNC /USDT is trading at $0.6491, showing a strong 7.90% increase in the past hours, climbing from a low of $0.5898. The pair has breached key short-term levels, but traders should watch closely for potential resistance near the highs.
Key Levels to Monitor:
Resistance: $0.6563, $0.6700
Support: $0.6377, $0.6200
Bullish Outlook:
A sustained move above $0.6563 could pave the way for $0.6700, with strong momentum backing the move.
Bearish Risk:
If the price fails to hold above $0.6377, expect a retracement toward $0.6200, indicating a pause in the rally.
Market Insight:
With RSI near 77, the pair is in overbought territory, signaling caution for new buyers. Volume remains strong, hinting at heightened interest. Watch for a decisive breakout or pullback to confirm the trend.