π KNC has recently demonstrated significant market dynamics. After a period of consolidation, KNC is currently showing signs of upward momentum, aiming to break out of the descending channel.
π A successful breakout could signal a shift towards upward movement, probability leading the price to retest the strong resistance area.
π However, if KNC fails to break out of the descending channel and faces rejection, the price may retreat to the support area around $0.57 to gather momentum for another attempt.
π A concerning scenario arises if KNC breaks below the support area, confirming a downward trend. In this case, the price could continue its descent towards the strong support zone or even establish a new bottom support level.