According to data from CoinMarketCap, the price of the Kyber Network (KNC) has increased by 0.24% in the past 24 hours, making the token price rise to US $0.8535 at the press conference. KNC not only strengthened against the US dollar, but also increased its price by 0.22% and 0.33% respectively against BTC and ETH, two cryptocurrency market managers.

In addition to the slight increase in the price in the past 24 hours, Santiments, a blockchain technology analysis enterprise, released statistics showing that dolphins have been accumulating tokens in the past three months. Statistics also show that since July 31 this year, the supply of KNC wallet with 1 million to 10 million tokens has increased by 20%.

In addition, due to the previous accumulation, the price of KNC rose by more than 67% in the following six months.

The price of KNC is currently at a strong resistance level of 0.86 US dollars, which is also the upper limit of parallel price security channel of KNC in the past two days.

The 4-hour RSI line is located above the 4-hour RSI SMA line, which is a bullish data signal. However, the RSI line is skewed towards the oversold area, which is also a bullish data signal.

If KNC raises the resistance level at this stage, then the 4-hour 9-day moving average will be strong and crossed above the 4-hour 20 day moving average, which will forebode the bullish development trend of KNC in the short term.

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