The cryptocurrency market will finish the week on a optimistic notice after including greater than 2% to its worth within the final 24 hours.
The broader crypto market has added greater than 2% within the final 24 hours. At press time, the full cryptocurrency market cap stands above $1.26 trillion.
Bitcoin is buying and selling above $30k once more after spending the vast majority of this week beneath this threshold. Ether, the world’s second-largest cryptocurrency by market cap, is buying and selling at $2,000 once more after including greater than 2% over the previous few hours.
KNC, the native token of the Kyber Community Crystal, is the perfect performer amongst the highest 100 cryptocurrencies by market cap. During the last 24 hours, KNC has added greater than 24% to its worth.
The first catalyst behind this ongoing rally is the launch of the KyberSwap referral marketing campaign. The Kyber Community staff introduced by way of Twitter on Friday that it will be gifting away $2,000 in KNC tokens to the fortunate winners.
The staff mentioned ten random fortunate winners would stroll away with $200 in $KNC rewards.
✍️Introducing #KyberSwap’s Referral Marketing campaign! $2000 in $KNC Rewards Up for Grabs When You Share! 🤝
🍀🥳10 random fortunate winners strolling away with $200 in $KNC rewards!
⏰Marketing campaign is from 20 Could to 26 Could so hurry! 🏃♂️💨
🧐Study how one can take part: https://t.co/HrsA5tIjNN
— Kyber Community (@KyberNetwork) May 20, 2022
Key ranges to observe
The KNC/USD 4-hour chart is at the moment probably the most bullish amongst the highest 100 cryptocurrencies by market cap. The technical indicators present that the coin has outperformed many different cash at the moment.
The MACD line is above the impartial zone, indicating a optimistic momentum. The 14-day relative energy index of 71 exhibits that KNC may quickly enter the overbought area.
At press time, KNC is buying and selling at $2.779 per coin. If the rally continues, KNC may surge previous the primary main resistance degree at $3.13 earlier than the top of the day. Within the occasion of prolonged optimistic efficiency, KNC may commerce above the $3.5 resistance degree for the primary time in three weeks.