KNC/USD - On $1.5 support, decision time...
KNC is sitting on the $1.5 support line. Should we fall we will likely re-test the massive ascending channel we find ourselves in.
For this reason it is best to wait to see where price is going, as you may have a good opportunity to buy later at just above $1.
On larger timeframes the indicators look bearish, but on lower timeframes like 4h we seem to form a bullish divergence which may hold the price from falling further, but that is a bit too early to say.
As such, if we do find a base here, a long would be in order soon.
Last time KNC was turned around from $2.6 level, I'd expect that to not hold a second attempt. Time will tell.
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For this reason it is best to wait to see where price is going, as you may have a good opportunity to buy later at just above $1.
On larger timeframes the indicators look bearish, but on lower timeframes like 4h we seem to form a bullish divergence which may hold the price from falling further, but that is a bit too early to say.
As such, if we do find a base here, a long would be in order soon.
Last time KNC was turned around from $2.6 level, I'd expect that to not hold a second attempt. Time will tell.
Like and follow if you liked this idea! Also join my crypto community to stay in touch and watch my technical analysis videos on YouTube. :)
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