The cryptocurrency market will finish the week on a constructive observe after including greater than 2% to its worth in the final 24 hours.
The broader crypto market has added greater than 2% in the final 24 hours. At press time, the whole cryptocurrency market cap stands above $1.26 trillion.
Bitcoin is buying and selling above $30k once more after spending the majority of this week under 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 Network Crystal, is the best performer amongst the top 100 cryptocurrencies by market cap. Over the final 24 hours, KNC has added greater than 24% to its worth.
The main catalyst behind this ongoing rally is the launch of the KyberSwap referral marketing campaign. The Kyber Network crew introduced by way of Twitter on Friday that it could be gifting away $2,000 in KNC tokens to the fortunate winners.
The crew mentioned ten random fortunate winners would stroll away with $200 in $KNC rewards.
✍️Introducing #KyberSwap’s Referral Campaign! $2000 in $KNC Rewards Up for Grabs When You Share! 🤝
🍀🥳10 random fortunate winners strolling away with $200 in $KNC rewards!
⏰Campaign is from 20 May to 26 May so hurry! 🏃♂️💨
🧐Learn how one can take part: https://t.co/HrsA5tIjNN
— Kyber Network (@KyberNetwork) May 20, 2022
Key ranges to look at
The KNC/USD 4-hour chart is at present the most bullish amongst the top 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 constructive momentum. The 14-day relative power 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 first main resistance degree at $3.13 earlier than the finish of the day. In the occasion of prolonged constructive efficiency, KNC may commerce above the $3.5 resistance degree for the first time in three weeks.