Bullish sentiments eased down in Bitcoin and other crypto tokens on Thursday after amendments to a spot bitcoin ETF filing in the US boosted the positive movement. The amendments were made to specify how sponsors will safeguard customers’ bitcoin in custody accounts and disclose risks related to the shaky regulatory environment.
Kyber Network(KNC) functions as a versatile nexus for liquidity protocols, consolidating liquidity from diverse origins to facilitate swift and secure transactions within any decentralized application (DApp). Its primary objective is to grant DeFi DApps, decentralized exchanges (DEXs), and other users seamless entry to extensive liquidity reservoirs, ensuring access to optimal rates.
Image: Chart-Kyber
On the 4-hourly time-frame the KNC/USDT trend is on the verge of a breakout from the triangle pattern with volume support. The daily RSI has climbed above 60, indicating a strong price momentum. The next resistance is expected at 0.8 USDT and an immediate support is expected at 0.645 USDT.
(Views and recommendations given in this section are the analysts’ own and do not represent those of Business Today. Please consult your financial adviser before taking any position in the asset/s mentioned.)
