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$KNC is showing a potential technical setup!
KNC is currently trading on the 1W timeframe near 0.1410 USDT, showing early signs of attempting a macro bottoming and reversal structure after an extended downtrend.
📈 The Technical Setup:
• The Pattern: Macro Reversal / Harmonic structure projection
• Short-term Target: 0.3000 USDT
• Macro Objective: 0.7700 USDT
• Market Structure: Potential macro bottoming and reversal accumulation
🎯 Key Levels to Watch:
• Support / Accumulation Zone: 0.1000 - 0.1200 USDT
• Resistance: 0.3000 - 0.4000 USDT
• Breakout Level: 0.1500 USDT
• Stop Loss / Invalidation: 0.0900 USDT
📊 Confirmation:
• Volume: Neutral/standard volume on the 1W timeframe
• Momentum: Early signs of bullish momentum following a prolonged macro downtrend
• Trend: Long-term downtrend attempting to form a major base and reversal structure
⚠️ Invalidation:
A weekly close below the 0.0900 USDT support zone would invalidate the macro reversal setup.
KNC is testing long-term accumulation ranges with a high-reward macro objective if broader market conditions support a reversal.
💎 Creator: NOUMAN_DON (@NOUMAN_DON)
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