Technical analysis of the KNG token 17-08-2021

KNG/PLN 1D

On Thursday KNG reached a new ATH at the level of 11 PLN alongside vast turnover – three times higher than a day before. After a few hours of hovering around 10-11 PLN some investors realized their profits and finally KNG closed at the opening level. The next day brought another series of rises, this time more stable, and the following two days welcomed another correction and currently KNG is under consolidation around 7.10-7.20 PLN. This situation is normal after such a strong increase and quite typical for consolidation when accompanied by a decreasing turnover. 

There is a strong resistance ahead for KNG at the level of 7.20 PLN, where there is a significant sales order. Breaking that level should lead to quick increases, since the former charge at 11 PLN caused a concentration of supply of KNG. Looking at the order book there is still a slight resistance at the level of 8 PLN. 

If, however, there should come a deeper correction then one important support is to be found at the level of 6.75 PLN, where currently there is a purchase order for 1035 KNG awaiting. Only breaking that level will bring further drops towards 5.85 PLN.

Current price: 7.20 PLN.

Resistance levels: 7.20, 7.99-8.03, 8.55-8.60, 10.50-11

Support levels: 6.75, 5.85-6.10, 4.85-5.13, 3.70-4.10

KNG/ETH 1D

The KNG/ETH pair has been forming a descending triangle for over ten days, which may be indicative of breaking out in a downward movement by going outside the 0.000520-0.000565 support and declining even further. However, if that were to happen, the breakout should come in the next two or three days. If, however, KNG should escape upwards by breaking through the 0,000585-0,000650 level, the market should reach 0.000895-0.00100 quite quickly. 

Right now what we can see is that similarly to the KNG/PLN pair the biggest turnover for KNG/ETH was recorded on Thursday, when we also observed a substantial volatility. However, the pair reached its ATH at the end of July and that was at the level of 0.001295. If Etherum should undergo consolidation in a longer run we can expect another rise of the KNG/ETH pair. Otherwise, we may be returning to the levels we had in June and the first half of July, when the pair was moving sideways between 0.000400-0.000500. Only a strong acceleration of increases for ETH will probably cause the pair to fall. 

Current price: 0.000574 

Resistance levels: 0.000575-0.000585, 0.000895-0.00100, 0.00125-0.001295

Support levels: 0.000520-0.000565, 0.000498-0.000513, 0.00035-0.000400

Arbitrage option:

The KNG tokens can also be obtained for ETH on the Polygon network with the use of Quickswap (https://quickswap.exchange) where the current purchase price is 0.000656896 ETH, so the difference is 14% compared to the price on Kanga exchange and gives room for arbitrage.

The KNG tokens are also available on ShibaSwap in Etherum network (https://bit.ly/3Bt7gLA). Here the current price is 0.000568959 ETH for 1 KNG and is 0.8% lower than on Kanga exchange.

Maciej Harcej – Liga BTC for Kanga Exchange

Technical analysis of the KNG token 10-08-2021

KNG/PLN 1D

After reaching its ATH at the level of 8.25 PLN last week KNG dropped to the level of 6 PLN. As predicted in the last analysis, after it consolidated around this level and successfully defended the 5.85-6.10 support, KNG is again in a rising trend and is nearing its ATH.

This time the increase is more steady and looks organic, but it is a good sign for KNG and evidence that there is a constant demand for the token. If the demand should increase around the level of 7.80-8.25, I expect the ATH to be broken and the token to rise on towards 9 PLN.

If, however, the increase slowed down at the resistance level and there should be another correction, we will see the formation of a double peak, which is an introduction to much deeper falls. In that case first there should be another move to somewhere around 6 PLN, and later even another fall to 4 PLN. However, this scenario seems much less likely at this moment. 

Current price: 7.68 PLN.

Resistance levels: 7.80-8.25, 8.80-9.00, 10.50-10.75

Support levels: 6.95-7.05, 5.85-6.10, 4.85-5.13

KNG/ETH 1D

The KNG/ETH pair has recently formed two peaks – the first one on 29-30 July at the level of 0.000990 and the second one on 4 August at a slightly lower level of 0.0000896. This double peak formation, particularly where the second peak forms lower than the first, usually signifies drops, which we observed in the last days. At the same time from the bottom wicks of the candles we can see that there is demand around 0.0000530 and this is the current bottom for the pair, which the market will defend. Additionally, the level is supported by people who use the opportunity of arbitrage and buy KNG at these levels to sell them later on the KNG/PLN pair with a profit.

If it is possible to keep the KNG/ETH pair at the current level, i.e. over the 0.000575-0.000610 zone, we should experience a bounce up towards the last peak at 0.000896.

If, however, the support was to be broken, the Bulls may still defend the 0.000498-0.000513 zone. Only once this zone is broken, it will lead to a further decline towards 0.00035-0.000400.

Current price: 0.000616

Resistance levels: 0.000895-0.000937, 0.000990-0.00100, 0.00125-0.001295

Support levels: 0.000575-0.000610, 0.000498-0.000513, 0.00035-0.000400

Arbitrage option:

The KNG tokens can also be obtained for ETH on the Polygon network with the use of Quickswap (https://quickswap.exchange) where the current purchase price is 0.000617517, so the difference is only 0.2% compared to the price on Kanga exchange.

The KNG tokens are also available on ShibaSwap in Etherum network (https://bit.ly/3Bt7gLA). Here the current price is 0.000608717 ETH for 1 KNG and is 1.2% lower than on Kanga exchange.

Maciej Harcej – Liga BTC for Kanga Exchange

Are banks going to collapse?

We have certainly come to live in interesting times. The banking system must seriously rethink its future. I will even go on to say that by continuing its operations in the form it operates now, it should even become truly concerned about its future…

It is not that people do not want to use banks or do not need them. However, taking advantage of clients while treating them as a ‘dull’ and passive money-making machine, unable to act or logically think, has taken its toll. And not only that.  Abusing their privileged position and their image of a trustworthy public institution, as well as continuously charging their clients (who after all contribute directly to their success)  with unsubstantiated costs of banking operations has led to the situation where people have become distrustful and cautious. 

Sounds harsh! Perhaps. It is, however, high time to start calling things as they are. ‘They who sow the wind, reap the whirlwind.’ This old saying, which is rooted in the Old Testament (Hosea 8:7), perfectly defines this so-called process, a process that has lasted for years. Now, however, it seems to have ripened and is starting to bear fruit. 

There is something else that happened as well. Up to now the financial market was airtight, closed, unavailable for Mr Average. And I am not only talking about being aware of the existence of specific financial instruments and the possibility to use them to make money. Since the appearance of blockchain and Bitcoin people have realized that banks are not the only institutions able to meet their ever growing and expanding financial needs. They have become aware that there is an alternative channel, a more perfect and fairer one, more humane. And when it turned out that blockchain is the best medium to record and carry even the most intricate and complicated financial operations and transactions in the whole world, the Defi market was born. From that moment on virtually every person in any part of the world has had access to instruments which until now were reserved only and exclusively to financial leviathans, banks, brokers, and the richest people in the world.

Whether people want to use them is yet another question. Possibilities are plentiful, indeed, but there are also many dangers. The greatest of all certainly is the lack of knowledge all sorts of scammers thrive on. 

Cryptocurrency companies and projects are putting more and more effort into making the use of such instruments as transparent and most of all as simple as possible. One of the examples of simple solutions is the option of the so-called staking. It is worth mentioning that Kanga Exchange clients have already been able to use this interesting form of growing their capital for the past 18 months with the KNG token. It is also worth noting that at Kanga Exchange the KNG token holds the function of a driving force, which similarly to a heart in living organisms brings live-giving oxygen to each cell of this unique ecosystem, even the smallest one.

What staking is and how it works is perfectly explained in one of the articles on our blog, called ‘Passive income with KNG tokens!’ In reality staking may be compared to a bank deposit (though this is of course an oversimplified explanation), the difference being that those who generate cryptocurrency value share their income equally with those who deposit offering them rewards for staking that can reach a few up to even a few hundred percent. 

You must of course stay extremely alert and cautious. The fact that such solutions exist and are widely available does not mean that each of them is a safe investment. That is why you need to carefully examine each project that attracts your interest. It is especially worth checking the foundations – how the profit is achieved? Is the market it operates in realistic and able to bring profits? Is the value we intend to stack sufficiently liquid? Is its market sufficiently deep?…

It all seems quite complicated. Yet a little common sense is enough to realize that interest at the level of a few hundred percent annually should trigger not only a vision of getting rich quickly, but at least one or even a couple of red alert lights! Let us come back, however, to the solution offered by Kanga and make a short analysis. How does it work and where do funds for paying the interest on staking come from? 

All fees generated on Kanga exchange and in the whole ecosystem (trading on the exchange, local and on-line currency exchange offices, payment gateway, billing systems for miners, loans secured with cryptography – as you can see there is quite a lot and Kanga is not done with making new solutions and instruments available to us) come as KNG tokens. Each time a transaction is carried in Kanga ecosystem, a fee, which is charged from the buyer and the seller, is generated. This fee in turn is automatically changed into KNG tokens. Thanks to this process there is constant demand for KNG, since the demand is generated by the whole ecosystem. 

KNG tokens can also be staked in the exchange PoS (Proof-Of-Stake), which allows you to make additional KNG profits, refinanced from the fees brought in by the users of Kanga ecosystem solutions. Rewards for staking are shared among them automatically each day. 

How does the Proof-Of-Stake (PoS) mechanism on Kanga Exchange work?

The mechanism serves to encourage KNG token holders to temporarily freeze all or some of their KNGs (on a special PoS account) in exchange for the right to have their share in the daily profits. Each day Kanga accumulates tokens charged as fees for all operations in a special pool and next, at the end of the day, the pool is proportionally shared among all KNG holders who have their KNGs deposited in a PoS account. 

Tokens accumulated in a PoS account are excluded from classic trading. You can, however, withdraw them from the PoS at any moment, though you will only be able to access the freed funds after about 48 hours. Such structure of the staking solution is meant to limit the volume of tokens in trade, which in result has a beneficial effect on their price. You can familiarize yourself with the Proof-Of-Sake: Kanga Coin guide here. 

Now that you know what staking is in Kanga Exchange and where funds for daily rewards come from, in order to have continuous increase of new tokens and make passive profits all you need to do is log in at the Kanga exchange website (you may use this link: https://trade.kanga.exchange/auth/?path=/pos) and choose the PoS tab from the top menu. 

To deposit your KNG in your PoS it is enough to enter the amount or use the MAX amount button and accept the transfer with the DEPOSIT KNG button. That’s all! You must admit this is much easier than opening a bank deposit. And it can even be easier! You can use a very convenient Kanga Wallet app to manage your KNG tokens. The app is available for Android and iOS

Anywhere you are, whenever you have access to the Internet, you can log into your Kanga Wallet, move to the Proof of Stake tab and deposit a chosen amount of KNGs to your PoS. At midnight UTC time zone your tokens will go to the pool, which will guarantee your participation in the daily share of profits form the exchange. Simple, isn’t it? To benefit from the compound interest, i.e. get interest on interest and make even more money, it was enough to run your application every day and add the funds you accumulated to the PoS system. 

However, adding KNG to the PoS pool on daily basis may have seemed a wearisome task. Amidst all the work and responsibilities you have on your mind it has probably happened that you simply forgot to perform this uncomplicated operation. And here Kanga once more rose to the challenge. To make our lives easier Kanga modified its PoS mechanism a few days ago in such a way that adding KNGs to the PoS may be automated. All you need to do is enable the ‘Autodeposit to PoS’ feature in your Kanga Exchange account. This may be done by moving a dedicated slider. This feature may also be enabled in the Kanga Wallet app with a slider you can find in the AUTOTRANSFER section. 

We have already said much about the staking solution: about its simplicity, wide availability to any person, about how it works, but… we have not said anything about whether it is worth the trouble. Is it something we should be interested in? Let us then address this question. And the question is: 

Does it pay off?

I have been using the option of staking on Kanga Exchange practically from the very beginning. I must, however, be honest and say that I started doing that more out of curiosity than conviction. At that time this solution was not as popular or as available as it is now. You may be surprised by the fact that Kanga developed, described and launched this solution as one of the first cryptocurrency exchanges in the world! And I wanted to see how it works and find out if it pays off. That is why I scrupulously added my KNG to the PoS pool for over a year. I must admit right away that I happened to forget to do it on several occasions. And since the several occasions can be counted on one hand, I think it did not affect the results of my observations in a particularly negative way. Apart from making daily transfers of my rewards for staking to my PoS, every day I also calculated the percentage the reward constituted in the blocked funds for a given day. The result of the observations carried between 1 March 2020 and 28 February 2021 are presented in the chart below. 

Conclusions? 

For 365 days, so for a full year, every single day I received KNG tokens as rewards. Sometimes those rewards were bigger, at other times smaller, but they did appear on my account EVERY day in the amount of no less than 0.0048%. The highest interest rate I was able to notice in this period was 0.5092% and that happened on the 12 March 2020. During the year of my observations the total value of rewards amounted to 18.3631%. 

Is that much or little?

Out of curiosity I looked through the current list of ‘The best annual deposits – changes in the lead’, which I found at Bankier.pl, the most widely known and opinion-making financial news service in Poland. I would not like to be accused of spreading any inaccuracy or distortions, hence I took the liberty to show screenshots of what I had found. Allow me to leave the rate of return from bank deposits without any comment. I shall only ask this one and only question. 

How is it that banks, qualified to make all sorts of financial investments, having practically unlimited investment options and additionally the possibility to create money, offer their clients 18 to over 367 times lower profits for using their money to trade than Kanga Exchange, which was launched only 2 years ago and which operates with incomparably smaller resources and possibilities? 

Two answers to that question come to my mind. Either banks are so ineffective in their operations and should therefore give way in the market to those entities which can generate such profits or… they simply cheat their clients (who, by the way, are their sole breadwinners) out of their money, keeping all generated profits only to themselves. Either way, continuing in any of these directions, whether consciously or unconsciously, may prove to be fatal for banks. 

Let us, however, concentrate on more positive news. When modifying its Proof-of-stake solution Kanga has brought to life a bonus for using autodeposits to PoS. Daily increase of this bonus is currently at the level of 0.5%. What does that mean? Well, if you enable autodepositing for the period of 30 days, you will get a 15% bonus. Moving on, if you do not disable the autodepositing feature for 200 days, you will receive a bonus of 100%. And so on and so forth. And to answer your next question, there are no limits to the bonus. It all looks pretty good, but what benefits come from this bonus? 

Every person who deposits their KNGs in an individual PoS account is entitled to receive a reward that is proportionate to the volume of their deposit. The amount of the bonus is directly reflected in the amount of the reward for staking. How does that happen? Receiving a bonus of 15% causes the balance of KNG deposited in your PoS to virtually increase by 15%, which in turn results in the increase of your reward by 15%. 

Example:

On a particular day the pool of commissions increased by 250 KNG. The total amount in the PoS pool on that day is 500,000 KNG

This means that on that day for each KNG accumulated in the PoS pool there is 0.05% reward (see the calculation below).

250 / 500,000 * 100% = 0.05%

You have 1,000 KNG deposited in your PoS account. What will then be your reward? 

  • If you have no bonus 1,000 * 0.05% = 0.5 KNG
  • If you have 15% bonus 1,000 * 1.15  * 0.05% = 0.575 KNG 

Therefore, having a bonus of 100% (which will happen after 200 days of continually using autodepositing to PoS) means that the value of your rewards will double. You can check the current level of your bonus in your Kanga Exchange account or your Kanga Wallet app. 

There is also the other side of the coin. If you disable the autodepositing function to withdraw funds from your PoS, you will lose the bonus you have been working on and you will have to accumulate it from the start. It is comforting to know, however, that no one will take away the rewards you have already received. Neither will the level of rewards be corrected. It is slightly different than what banks do, where interests will equal 0% if you withdraw your deposit. 

Why am I writing about all of this?

It is a very interesting and profound question, though it might not seem so. Did anyone pay me for writing it? No. Do I get any benefits from it?. No. Or maybe I am a cyberpunk and simply hate banks. Again, no. I only care about it that each person, absolutely each and every human being on Earth, learns about it and is aware that there are alternatives to what banks offer or actually do not offer, although they should. Will anyone use this knowledge and how will they use it? That is an individual decision of each reader. 

Kanga Exchange is one of those projects which put efforts into increasing the financial awareness and freeing our individually accumulate money, oftentimes earned with great strive, from the bonds of possessive institutions which claim the right to monopolize the financial market, even though they do not bring any or little results while managing the finances of their clients. I personally acknowledge Kanga’s effort and that is the reason why I am writing this article. I realize that there is a long way ahead of us, one requiring a great shift in awareness and constant access to knowledge. That is why it is so important for as many articles of that sort to appear as possible. Without them thousands of people would stand no chance to learn about the solutions which are available. Where else would they find out about them? You are now reading this article. Think about it… what would happen if you had no occasion to read it? Would you have learnt about it from the radio or television? Or perhaps from the newspaper? Or maybe your bank will simply inform you about it? I honestly doubt that, though it would be great. 

Coming back to the question I posed at the very beginning. Are banks going to collapse? In the shape they operate and function now, they most certainly are! If they do not start treating their clients, like you or me, seriously, I can imagine their collapse and much sooner than it would seem. The gravest and unforgiveable mistake banks make seems to be following the policy of mindless exploitation and excessive drainage of their breadwinners. Normally every company in the world pays for such capital mistakes as negligence of their clients. And the cost can be tremendous. What can a company in fact achieve and gain without its clients? The ability to operate on their clients’ money is not only an opportunity to make profits, but also – or perhaps above all – it is a privilege and a duty. Obviously, banks did not want to keep that in mind… they forgot about it… Sooner or later they will have to pay for this mistake. Only time will tell how soon that will come about. 

Piotr Kowalski – BTC League for Kanga Exchange

LEGAL NOTICE

Dear Reader!

Investing in any financial instruments, particularly those related to the cryptocurrency market and the blockchain technology, is associated with high risk. Investing in such projects may carry a significant risk of losing all or part of the invested funds. Therefore, prior to engaging in this type of investment make sure you understand the risk related to it and seek advice of an independent investment advisor. 

Materials and information published as part of this article serve informative purposes only and should not become the sole basis for making investment decisions. The information particularly does not serve as a recommendation to invest in any financial instrument, nor should be treated as investment advice. 

All opinions, any information and any other details included in this article do not constitute investment advice. The author is not liable for any loses, including the loss of profits, which may be directly or indirectly connected with making use of the information obtained from the article or with relying on such information. 

Technical analysis of the KNG token 03-08-2021

KNG/PLN 1D

Last week the KNG token continued to rise reaching its All-Time High on Wednesday, 28 July, at the level of 8.25 PLN. There was a slight move back on that day, but Thursday brought a confirmation of the peak with a closure at the level of 7.80 PLN.

Such a strong increase in a short time obviously caused some investors to decide to realize their profits, which lead to a correction and a decline even at times to the level of 5.60 PLN on Friday. Since then we have been observing a consolidation around the 6.00 PLN support level.  

If KNG manages to stay above the 6.00 PLN level I expect it to go back to rising and once it breaks over the level of 6.10 PLN there will first be a movement towards 6.50, subsequently towards 7 PLN and ultimately another charge at ATH. 

If, however, the support at the level of 5.85-6.10 was to be broken, then the next important support will be at 5.60-5.68, where there are large orders for purchase. The next support is around 5 PLN. 

Current price: 6.00 PLN.

Resistance levels: 6.50, 6.95-7.05, 7.80-8.25

Support levels:  5.85-6.10, 5.60-5.68, 4.85-5.13

KNG/ETH 1D

On Tuesday KNG/ETH broke out in an upward direction from the sideways movement it had been experiencing till then, reaching the maximum of 0.001295 on Wednesday. Moreover, Wednesday brought a big fluctuation on that pair, when it reached both – its minimum at the level of 0.000520, as well as the above mentioned maximum of 0.0001295. It finally closed at 0.000878. Next day there was a continuation of rises and the pair closed at the highest level of 0.000999, whereupon there was a realization of gains similarly to the KNG/PLN pair on Friday. Up till yesterday KNG/ETH consolidated over the support level of 0.000600, however, an attempt to break that level is ongoing. 

If the Bears manage to break the 0.000576-0.000630 support for good, I expect a decline to the level of 0.000500, where the next support is awaiting. Breaking this level could mean a fall even to 0.000350-0.000400.

If, however, the KNG token returned over the level of 0.000576, we will be back under consolidation in the 0.000576-0.000630 support zone. Only breaking over this level will open a way to 0.000750.

Current price: 0.000527

Resistance levels: 0.00075, 0.000990-0.00100, 0.00125-0.001295

Support levels: 0.000576-0.000630, 0.000498-0.000513, 0.00035-0.000400

Arbitrage option:

The KNG tokens can also be obtained for ETH on the Polygon network with the use of Quickswap (https://quickswap.exchange), where the current sell price is 0.000620191, so that is 17.6% higher than on Kanga exchange, which gives opportunity for arbitrage.

The KNG tokens are also available on ShibaSwap in Etherum network (https://bit.ly/3Bt7gLA). Here the current price is 0.000573152 ETH for 1 KNG and is 8.7% higher than on Kanga exchange, which gives opportunity for arbitrage.

Maciej Harcej – Liga BTC for Kanga Exchange

Technical analysis of the KNG token 27-07-2021

KNG/PLN 1D

As forecasted in last week’s analysis after breaking the resistance at the level of 4.14 PLN and later also at 4.30-4.50 KNG settled around 5.00 PLN at the weekend. After temporary delicate drops to the level of 4.70 on Sunday, yesterday it returned up and currently KNG is at the level of 5.17.  Moreover, yesterday’s breakout took place during a significant increase of turnover (44,000 PLN), which additionally strengthens the significance of the breakout and usually foreshadows a further continuation of the rising trend. Further increases are also supported by the improving sentiments in the cryptocurrency market.

Currently we have entered a new zone for KNG, so it is more difficult to predict the resistance level, but we can use the data from the order book and the KNG/ETH pair to do so.

After yesterday’s breakout KNG has an open way to the level of 5.18-5.20, where we have a lot of orders for sale. After that the next resistance can come somewhere around 5.58-5.60.

The support level is between 4.80 and 4.90.

Current price: 5.17 PLN.

Resistance levels: 5.18-5.20, 5.58-5.60, 5.95-6.05

Support levels:  4.80-4.90, 4.00-4.14, 3.35-3.42

KNG/ETH 1D

The price of KNG against ETH has remained quite unchanged in the perspective of the former week. Last Tuesday we observed an attempt to break beyond the 0.0006 resistance, but finally KNG returned to the opening level and remained in that position for the next two days. On Friday the market managed to rise over the resistance, yet already on Saturday it went back down below the resistance and still remains below that level. The recent hour brought a slight correction. A similar situation was experienced yesterday, after which the market returned below the resistance.

So KNG/ETH still continuous to move sideways within the 0.0005-0.0006 zone. Only a constant breakout above one of those levels will give a clear signal as to the further direction. In the long run KNG still remains in a rising trend, broken by periods of consolidation.

When the 0.0006 resistance level is broken, I expect movement towards 0.000641-0.00065. If, however, there should be further correction then the nearest support level is currently at 0.000498-0.000513.

Current price: 0.000534

Resistance levels: 0.0006, 0.000641-0.00065, 0.000695-0.000705

Support levels: 0.000498-0.000513, 0.000375-0.000400, 0.000295-0.000301

Arbitrage option:

The KNG tokens can also be obtained for ETH on the Polygon network with the use of Quickswap (https://quickswap.exchange), where the current purchase price is 0.000578594, so that is 8.3% cheaper than on Kanga exchange.

The KNG tokens are also available on Uniswap v2 in Etherum network (https://bit.ly/3Bt7gLA). Here the current price is 0.000593852 ETH for 1 KNG and is 11.2% lower than the lowest available offer on Kanga exchange, which gives opportunity for arbitrage.

Maciej Harcej – Liga BTC for Kanga Exchange

Technical analysis of the KNG token 20-07-2021

KNG/PLN 1D

As I wrote a week ago having established a local 2 month peak at the level of 4.39 PLN on the 3rd of July and having created a doji candle KNG underwent a slight correction. The correction turned into consolidation somewhere around the level of 3.80 PLN.
Last Thursday KNG escaped upwards from its sideways movement and is now approaching the resistance level at 4.14 PLN, the closing level on the 3rd of July, and all this happened amidst overall negative moods in the cryptocurrency market and declines in Bitcoin overnight.

If KNG breaks the 4.14 level, this will open the way to the next target at 4.30-4.50, and later on at 5.00.
If, however, the attack failed I expect another drop towards the level of 3.88-4.00.

The increases are supported among other things by POS from KNG and additional bonus for enabling ‘auto deposits to PoS’.
The upward movement may in turn be hindered by deteriorating moods in the market. That is why I also recommend observing how the situation with BTC and ETH develops.

Current price: 4.07 PLN

Resistance levels: 4.14, 4.30-4.50, 5.00
Support levels: 3.88-4.00, 3.50-3.68, 2.9-3.12

KNG/ETH 1D

The KNG/ETH pair has been under consolidation between 0.0004 and 0.0005 for almost one month. However, on Wednesday it broke out of the zone in an upward move and today we even observed an attempt to rise above the 0.0006 resistance level. Currently, it is back to the level of 0.000551 ETH, but the KNG/ETH pair is still in an obvious rising trend.

If KNG manages to break through the 0.0006 resistance level for good, the market will then be looking for new resistance zones. Looking at the order book we can expect the first resistance at around 0.000641-0.00065, and beyond that we actually have unrestricted space for increase.
If, however, there should be further correction, the nearest support level is currently at 0.000483-0.000515.

Current price: 0.000551

Resistance levels: 0.0006, 0,000641-0,00065
Support levels: 0.000483-0.000515, 0.000375-0.000400, 0.000295-0.000301

Arbitrage option:

The KNG tokens can also be obtained for ETH on the Polygon network with the use of Quickswap (https://quickswap.exchange//) where the current purchase price is 0.000528178, so that is 4.3% cheaper than on Kanga exchange.

The KNG tokens are also available on Uniswap v2 in Etherum network (https://app.uniswap.org/#/swap?use=V2). Here the current price is 0.000521643 ETH for 1 KNG and is 5.62% lower than the cheapest offer available on Kanga exchange, which gives opportunity for arbitrage.

Maciej Harcej – Liga BTC for Kanga Exchange

Technical analysis of the KNG token 6-07-2021

KNG/PLN 1D

Kanga Coin (KNG) has been firmly gaining in value against the PLN in recent days and all that with increasing turnover. It bounced from the minimum value at the level of 3.12 zloties a week ago (Sunday 27th June) to reach the maximum of 4.39 zloties on Saturday 3rd July. And on that day we observed the biggest volume on the currency pair – almost 65,000, creating a doji candle, which usually implies indecisiveness on the market. A correction appeared already on Sunday and now we are experiencing a defensive battle for the 3.50-3.68 support. 

If indeed the support at the level of 3.50-3.68 can be defended, we can expect another upward move for KNG towards 4.00 zloties and a subsequent rise to the last peak at 4.30-4.40. If, however, the 3.50-3.68 zone was actually broken, then another move toward the level of 2.9-3.12 is to be expected.

Current price: 3.73

Resistance levels: 3.88-4.00, 4.30-4.50, 5.00
Support levels: 3.50-3.68, 2.9-3.12, 2.5

KNG/ETH 1D

After KNG/ETH broke out of the former consolidation between the levels of 0.0003 ETH and 0.0004 ETH for a few days we were observing an obvious rising trend. During this time of increase KNG reached the maximum at the level of 0.000515 ETH on 22nd of June and since then the KNG/ETH pair has again been forming a consolidation of 0.0004-0.0005.

Since this Saturday we have been observing a few attempts to break out from the consolidation zone downwards, yet each time Bulls manage to defend the support leaving long wicks at the bottom, which indicates a strong demand below the support level. 

If the situation continues with each day there is higher probability of an upward move. Then the nearest resistance level is 0.000483-0.000513. If, however, the support zone of 0.000375-0.000400 was actually broken – which I think is less probable – we shall be returning towards the 0.000295-0.000301 zone.

Current price: 0.000426

Resistance levels: 0.000483-0.000515, 0.0006
Support levels: 0.000375-0.000400, 0.000295-0.000301

Arbitrage option:

The KNG tokens can also be obtained for ETH on the Polygon network with the use of Quickswap (https://quickswap.exchange//) where the purchase price is 0.000419584, so that is 1.5% more expensive than on Kanga exchange, and which gives us the opportunity of arbitraging the swap on Polygon and the Kanga Exchange. 

The KNG tokens are also available on Uniswap v2 in Etherum network (https://app.uniswap.org/#/swap?use=V2). Here the current price is 0.00044368 ETH for 1 KNG, so 4.0% more expensive than on the exchange.

Maciej Harcej – Liga BTC for Kanga Exchange

Technical analysis of the KNG token 29-06-2021

KNG/PLN 1D

Kanga Coin, after dropping from PLN 4.24, at the beginning of May still remains around PLN 3.5. Throughout June, we observed several attempts to bring the KNG token price lower, but each time there were many buyers who took advantage of such a favorable price and bought these tokens from PLN 3 to PLN 3.5, and with increased turnover. The result was long lower wicks on candles, which is especially visible from June 6th to June 12th. On June 18th, we also had a very high turnover (almost PLN 25,000), an attempt to break the top from the current consolidation and a move towards PLN 4, but with much lower turnover, the KNG token returned to PLN 3.5.

For now, therefore, in the longer term, KNG is valued at PLN 3.5 by the market. Only the break above PLN 3.95 – PLN 4 should start a long-term uptrend, and a fall below PLN 3 – a downward trend. However, looking at the volume of turnover each time there is a decline and the depth of the order book, it seems that a downtrend is less likely.

Current price: PLN 3.48

Resistances: 3.88 – 3.96, 4.34 – 4.5
Support: 2.9 – 3.12, 2.5

KNG/PLN 6h

The KNG token reacted, like other cryptocurrencies, to declines in Bitcoin, which resulted in drops from PLN 3.88 on June 18th to PLN 3.12 on June 26th. However, there was a demand with increased turnover and after a temporary stop, the token began to bounce up by itself, and this movement was additionally supported by increases in bitcoin. Currently, the KNG token is under significant resistance, which is the level of PLN 3.5, which previously prevented it from further increases on June 24th. If we manage to break this level, the current declines can definitively be considered  over and the road to the price of PLN 3.75 and ultimately even to PLN 4 will open.

KNG/ETH 1D

The situation on the KNG coin in relation to ethereum is very interesting. While we observed a consolidation in relation to the PLN in the longer term (daily candles), those who left ETH to KNG at the beginning of June should not regret their decision in May. At that time, the KNG token reached the minimum level of 0.000205 on May 13th, and the maximum on June 22nd at the level of 0.000515. Currently, the price is around 0.000488 and this is still with the price increase on ethereum.

The KNG / ETH pair is therefore in an obvious uptrend, and breaking the resistance 0.00048300.000515 opens the way towards 0.0006. Long bottom shadows on the candlesticks indicate further gains, which indicate demand for KNG below current prices. Also, a large number of buy orders lower in the order book and a relatively shallow order book above the current price indicate that breaking the resistance should be much easier than the support.

Current price: 0.000479

Resistances: 0.000483 – 0.000515, 0.0006
Support: 0.000375 – 0.000400, 0.000295 – 0.000301

Possibility of arbitration:

KNG tokens for ethereum can also be purchased on the Polygon network using Quickswap(https://quickswap.exchange/) where the purchase price is currently 0.000457889. This is 5.5% cheaper than the Kanga exchange and allows us to arbitrage between the Polygon swap and the Kanga exchange.

KNG tokens are also available on Uniswap v2 in the etherum network(https://app.uniswap.org/#/swap?use=V2). Here the price is currently 0.000458 ETH for 1 KNG, so 4.5% cheaper than on the stock exchange.

Maciej Harcej – Liga BTC
for Kanga Exchange