$KNC Analysis – Bullish Potential on W Pattern Formation

The $KNC chart is showing a bullish reversal pattern with a clear "W" formation on the 1-hour timeframe. The price is approaching the neckline resistance at $0.5590. A breakout above this level could signal a strong bullish move.

Key Levels:

Resistance: $0.5590 (breakout point)

Support: $0.5400 (key retracement level)

Trading Plan:

Entry: Consider long positions if the price breaks above $0.5590 with strong volume.

Target 1: $0.5700

Target 2: $0.5850

Stop Loss: $0.5480 (below recent support)

Observation: If the breakout is confirmed, expect further upside momentum as the W pattern completes. Monitor the volume closely for confirmation of the bullish trend.

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