The New Crypto Boom! Kyber Network Full Chart W/ Fib. Levels

3 lug 2020

Kyber Network (KNC) Project Overview

Seamless Token Swaps, Anywhere
Kyber is an on-chain liquidity protocol that aggregates liquidity from a wide range of reserves, powering instant and secure token exchange in any decentralized application.

Kyber Network Crystal (KNC) is an ERC-20 token and an integral part of Kyber Network.

KNC is the glue that connects different participants in the Kyber Network ecosystem, including both liquidity contributors and the different entities that leverage on the liquidity network.

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What is KNC used for?

KYBERRESERVES | Liquidity contributors
KNC facilitates the smooth operation of the reserves system in our liquidity network. To operate and provide token liquidity, 3rd party token reserves are required to purchase KNC to pay for their operation in the network. Kyber Network charges transaction fees, in KNC, from these reserves.

DAPPS / WALLETS / VENDORS | Entities that leverage on our liquidity network
By registering and plugging into our liquidity network, DApps (decentralized applications) and businesses earn commission in KNC after every transaction that they facilitate in Kyber Network. For instance, a DApp platform integrated with our APIs will receive referral fees in KNC for directing more users to our network and helping us generate greater adoption.

NETWORK FEES
In each transaction, a portion of the collected fees (in KNC) on Kyber Network are taken out of circulation forever.

Source/Website: kyber.network/
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The New Crypto Boom!

Here we have the Kyber Network (KNCBTC) full long-term chart on Binance, we are looking at the weekly (W) timeframe.

KNCBTC bottomed in August 2019, when the altcoins market hit its first bottom.

From this month forward, KNCBTC and many other altcoins started to grow.
Many others, continued to print new bottoms, while others went on a very long consolidation phase.

KNCBTC is definitely moving ahead.
Since most altcoins that bottomed in August 2019 are also reversing, we can expect them to follow this same trend.

In less than 1 year (329 days), KNCBTC managed to only print higher highs and grow by as much as 1350%.

But, where are prices headed next?

What we see on this chart is very healthy/strong growth, which is extremely good as it opens the more for more.

The RSI remains strong and the MACD is on the bullish zone.

I marked all the future resistance levels based on Fibonacci proportions, we use these as our targets...
Where people sell for profits or where prices face resistance (stop/retrace) before any additional bullish action can take place.

I marked all the levels including a new ATH.

How far up do you think prices will go ❓❓❓

Share with us in the comments section below...

Namaste.