Cryoto Currency

KNC Whales Have Acquired 20% of the Supply Since July 31st By CoinEdition

KNC Whales Have 20% of the Supply since July 31
  • KNC’s price has risen by 0.2% in the past 24 hours.
  • Whales have added 20% of KNC’s supply to their holdings since July 31.
  • KNC’s price is currently attempting to challenge a resistance level on the 4-hour chart.

According to CoinMarketCap, Kyber Network (KNC), has seen its price increase by 0.24% in the last 24 hours. This brings the price to $0.8535 as of press time. KNC strengthened against the dollar. However, the price of KNC also grew against the crypto market leaders (BTC and ETH) by 0.22% & 0.33%, respectively.

Whales accumulate KNC. Source: Santiment

Santiment, a blockchain analytics firm, released data that shows that whales have been buying the token for the past three month. The data also shows that KNC wallets with between 1 million and 10 million tokens have increased their supply by 20% since July 31st.

This was also the last time such an accumulation occurred. The KNC price increased more than 67% in six months.

4-hour chart KNC/USDT (Source: CoinMarketCap).

The price of KNC finds itself at a strong resistance level of $0.86 at the moment, which has also been the upper limit of the parallel price channel that KNC’s price has been in for the last two days.

The 4-hour Relative Strength Indicator (RSI) line is located above the 4-hour RSI SMA Line, which is a bullish signal. However, the RSI line slopes towards the oversold territory which is a bearish flag.

If KNC breaks below the resistance level, then bullishly the 4-hour 9 EMA lines will cross above the 4-hour-20 EMA lines, signaling a bullish trend for KNC in the short-term.

Disclaimer: All views and opinions expressed in this price analysis are published in good faith. Readers are responsible for their own research and due diligence. Readers take all actions at their own risk. Coin Edition and its affiliates are not liable for any loss or damage, direct or indirect.

The post KNC Whales Have 20% of the Supply since July 31 Coin Edition was the first to feature this article.

See original on CoinEdition

News Source and Credit

Stocksak Editorial

We are a financial blog that covers topics such as investing, saving, spending, and earning more money. Please feel free to peruse our site and read any of the articles that catch your interest.

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button