Kyber Network Crystal Legacy Price Prediction 2021 – Will KNC Hit $5 Soon?

Kyber Network Crystal Legacy Price Prediction 2021 - Will KNC Hit $5 Soon?
  • Bullish KNC price prediction ranges from $1.55 to $4.30.
  • The KNC price might also reach $5.
  • KNC bearish market price prediction for 2021 is $1.10.

In KNC price prediction 2021, we use statistics, price patterns, ADX, and much other information about DCR to analyze the future movement of the cryptocurrency. 

Kyber Network is a blockchain-based liquidity hub. It connects liquidity from various sources to power instant and secure cryptocurrency exchange in any decentralized application. The platform is an on-chain decentralized exchange that offers several useful applications. Like, building a practical exchange and providing payment APIs for merchants and users to instantly and “trustlessly” convert tokens.

Kyber Network Crystal Legacy (KNC) is a cryptocurrency token generated on the Ethereum blockchain. The token holders can stake their tokens in the KyberDAO to help govern the platform and earn Ethereum staking rewards (ETH).

Current Market Status of Kyber Network Crystal Legacy (KNC)

According to Coingecko, the price of KNC is $1.26 with a 24-hour trading volume of $31,572,161 at the time of writing. However, KNC surged to 9.42% in the last 24 hours.

Moreover, KNC has a circulating supply of 205,045,092 KNC. Currently, DCR trades in cryptocurrency exchanges such as Binance, HitBTC, CoinTiger, OKEx, Huobi Global and FTX. 

Kyber Network Crystal Legacy (KNC) Price Prediction 2021

Kyber Network Crystal Legacy (KNC) holds the 230th position on CoinGecko right now. KNC price prediction 2021 explained below with a daily time frame. 

KNC/USDT Descending Triangle Pattern (Source: Tradingview)

The descending triangle is most commonly seen during downtrends and is often interpreted as a bearish signal. The ascending triangle pattern is reversed in the descending triangle pattern.

As the price continues to make lower highs, descending triangles indicate to investors and traders that sellers are more aggressive than buyers. When the price breaks out of the triangle in the direction of the overall trend, the pattern is complete.

Contrary to popular belief, a descending triangle can be bullish or bearish. A regular descending triangle pattern is traditionally regarded as a bearish chart pattern. A descending triangle pattern, on the other hand, can be bullish.

Currently, KNC is waving at $1.27. After this, KNC may continue to fall or rise according to the direction of breakout. With this pattern, KNC might reach the resistance level at $1.85 soon. If the trend reverses, then the price of DCR may fall to $1.10.

Kyber Network Crystal Legacy (KNC) Support and Resistance Level

The below chart shows the support and resistance level of Kyber Network Crystal Legacy (KNC).

KNC/USDT Support and Resistance Level (Source: Trading view)

From the above chart, it is observed that the following are the resistance and support level of KNC.

  • Resistance Level 1 – $1.55
  • Resistance Level 2 – $2.51
  • Resistance Level 3 – $3.34
  • Resistance Level 4 – $4.30
  • Support Level 1 – $1.10
  • Support Level 2 – $0.75

The chart depicts the bearish performance of KNC over the previous month. However, this trend might continue to reach resistance level at $1.85 soon. On the contrary, if the trend reversed then KNC might fall to $1.10 presenting a bearish signal.

Kyber Network Crystal Legacy (KNC) Average Directional Index (ADX)

Let us now look at KNC’s Average Directional Index (ADX). In particular, the ADX assists traders in determining the strength of a trend rather than its direction. It can also be used to determine whether the market is changing or if a new trend is beginning. It is, however, linked to the Directional Movement Index (DMI).

Moreover, the oscillator has a range of 0 to 100. In addition, a high value represents a strong trend, while a low value represents a weak trend. Furthermore, it is frequently combined with directional indicators.

KNC/USDT ADX (Source:TradingView)

The above chart represents the ADX of DCR with the range at 12.65, so it indicates a weak trend.

Conclusion

The KNC is one of the cryptos which is great for long-term investment. In addition, KNC price prediction will be bearish or bullish, until the breakout direction is confirmed. But, it has a good chance of reaching $4.30 this year. However, this will only happen if many previous psychological barriers are broken.

Furthermore, with the advancements and upgrades on the KNC ecosystem, the performance of KNC would rise reaching $4.30 very soon. But, it might also reach $5 if the investors believe that KNC is a good investment in 2021.

Disclaimer: The opinion expressed in this chart solely author’s. It is not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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