Open a long position here;
#KNC Analysis
The price of $KNC successfully maintained its support level around the range of $0.45-$0.47 and experienced a rebound from that point. Currently, the resistance level to watch is between $0.566 and $0.59, and there is a possibility that the price might test this zone in the upcoming days. It is worth noting that there is a descending triangle pattern observed on the daily chart, indicating a bearish outlook for the mid-term.
Considering these factors, one strategy could be to consider opening a long position near the support level, while setting a tight stop loss to manage risk. It's important to keep a close eye on the price movement and market conditions to make informed trading decisions.
