Coyle is facing increasing pressure after Bolton slumped to their third defeat in five Championship matches.
Wanderers, who were relegated from the Premier League in May, are among the favourites to win promotion at the end of the season.
But they have endured a difficult start to life in the second tier, having dropped to seventh bottom in the table following their disappointing recent run. However, ex-England international Knight insists Coyle is the right man to turn around Bolton's fortunes.
"We feel we have a good manager," he said.
"We have got good players but at the minute we're not ticking."
"We're not putting the ball in the back of the net which is frustrating. It's got nothing to do with the manager."
"We're starting with the players most fans would pick but we're just not doing it. It's frustrating."
Bolton's latest setback saw Crystal Palace leave the Reebok with all three points after Glenn Murray's late penalty clinched a 1-0 win on Saturday.
Knight added:
"You create four or more chances and if you don't put them away you will get punished by the opposition."
"We felt we should have got something, at least a point. If we don't win, we don't lose - that's the trick to this league and how to get out of it."
Source: team_talk
