$KNC Structure Alert: Is the $0.14 Support Floor About to Snap?
Trade Plan (Short)
Entry Zone: $0.140 – $0.145
Stop Loss (SL): $0.155
Target 1 (TP1): $0.130
Target 2 (TP2): $0.122
Target 3 (TP3): $0.115
$KNC (Kyber Network) is currently navigating a high-stakes consolidation phase after shedding significant value from its April highs. While the broader market has attempted minor relief rallies, KNC’s price action remains heavy, pinned beneath its descending 50-day and 200-day Moving Averages.
On the 4H and Daily timeframes, we are seeing a "Bearish Pennant" formation right at the critical $0.140 horizontal support. Volume has been steadily declining on small bounces, indicating a lack of conviction from buyers. If the bulls fail to defend this $0.14 floor, we anticipate a high-velocity liquidity flush toward the absolute cycle lows. This is a "breakdown or bust" scenario where the technical tape clearly favors the sellers.
Execution Insight: We are fading the weakness. The failure to reclaim the $0.150 level during the last three attempts confirms that the supply-side is in total control. A daily candle close below $0.138 will be the definitive trigger that the floor has snapped. As always, manage your leverage—volatility in the DeFi sector can be violent during these "liquidity grabs."
Are you betting on a $0.14 bounce, or are you positioned for the flush? Trade the structure, not the hope. 👇
Trade $KNC here
