KNC - One Breakout Away From a Major Trend Reversal?Kyber Network/USDTOKX:KNCUSDTCryptoNuclearKyber Network (KNC) continues to trade within a long-term bearish structure, characterized by a Descending Trendline pattern. The yellow trendline highlights consistent selling pressure since the previous price peak. Every time the price attempts to recover, it continues to face resistance from this descending trendline. However, there is an interesting development worth watching. 📌 The current price is trading around $0.12349 and is gradually approaching the long-term descending trendline. 📌 If buying pressure continues to increase, KNC could attempt to break above this dynamic resistance. 📌 A confirmed breakout could become an early signal of a potential market structure shift from bearish to bullish. ⚠️ As long as the price remains below the Descending Trendline, the primary trend cannot yet be considered reversed. ### 🟢 2. BULLISH SCENARIO The bullish scenario becomes increasingly interesting if KNC manages to break above the Descending Trendline and sustain its price action above this resistance. If the breakout is confirmed by increasing trading volume, several resistance levels could become potential upside targets. 🎯 Bullish Targets: - 🥇 $0.15400 – First resistance. - 🥈 $0.21250 – Next resistance. - 🥉 $0.24700 – Further upside target. - 🚀 $0.31000 – Major resistance and primary bullish target on the chart. 📈 Successfully breaking through these levels could open the door to a stronger price recovery. However, each resistance level should be monitored carefully, as it could trigger profit-taking activity. ### 🔴 3. BEARISH SCENARIO On the other hand, if KNC faces another rejection from the Descending Trendline, selling pressure could continue. Several bearish conditions should be monitored: 📉 The price fails to break above the descending trendline. 📉 Strong rejection occurs when testing the dynamic resistance. 📉 The price continues forming lower highs and maintains its previous bearish structure. 🎯 Key Support Areas: - $0.12349 – Current price area. - $0.09830 – Major support and the low displayed on the chart. ⚠️ If the price breaks below $0.09830 with strong selling pressure, the risk of further bearish continuation will increase. ### 🎯 4. KEY LEVELS TO WATCH | Price Level | Description | |---|---| | $0.31000 | 🚀 Major Resistance | | $0.24700 | 🔴 Resistance 3 | | $0.21250 | 🔴 Resistance 2 | | $0.15400 | 🔴 Resistance 1 | | $0.12349 | 💵 Current Price | | $0.09830 | 🟢 Major Support | ### 🔍 5. CONCLUSION Kyber Network (KNC) is currently entering an interesting phase worth monitoring. After experiencing prolonged bearish pressure, the price is now approaching the Descending Trendline, which serves as a major dynamic resistance. 🚀 A breakout above this trendline could become an early catalyst for a potential price recovery toward $0.15400, $0.21250, $0.24700, and eventually $0.31000. However, confirmation remains the most important factor. Avoid prematurely assuming a trend reversal before the price successfully breaks above the key resistance and demonstrates a meaningful shift in market structure. 👀 Will KNC finally break its long-term downtrend, or will sellers defend the descending resistance once again? #KyberNetwork #KNC #KNCUSDT