Table of Contents
- Kyber Network (KNC)
Kyber Network and AAVE prices are inching higher. At spot prices, KNC/USDT and AAVE/USDT setups could reach $5 and $580, respectively.
The Aave protocol is one of the leading DeFi lending and borrowing platform, supporting a range of tokens. The AAVE token primes its system.
The token is firmly in green territory as it glides.
Trading at $584 as of writing, the price is up roughly 17 percent against USD and BTC.
At the same time, AAVE is gaining versus a solid ETH, adding 11 percent on the last trading day.
Meanwhile, there is interest from the broader trading community. Adding 79 percent, the average trading volumes of AAVE are up $986 million.
Day-Ahead and What to Expect
AAVE technical analysis indicates demand. In return, AAVE/USDT is trading within a bullish breakout pattern above March and April 2021 highs of $450.
From the daily chart, AAVE/USDT price action found support at the 50 percent Fibonacci retracement level of the Q1 2021 trade range at $300.
The reversal of early May 2021 losses is a shot in the arm for buyers angling for more price gains towards $580.
AAVE/USDT Technical Analysis
AAVE buyers are in a commanding position judging from the candlestick arrangement in the daily chart.
Every low could technically be a loading opportunity as long as prices are above March and April 2021 highs.
The first feasible target is $580—the Q1 2021 high.
Kyber Network (KNC)
Kyber Network is an on-chain liquidity protocol that aggregates liquidity from various sources for seamless and smooth swapping of tokens. These services are built around the KNC token.
Past Performance of KNCOverly, KNC buyers have a chance.However, prices are in range mode, bouncing within a $1.6 zone defined by $2.2 and $3.8. This trading zone is within April 2021 trade range.Despite the confidence, participation has tapered as trading volumes contracted 24 percent to $151 million.