The worth of Kucoin Token (KCS) has struggled to carry its key assist towards Tether (USDT) in latest occasions after displaying an important restoration bounce because it cracks double-digit good points. Bitcoin (BTC) being rejected from a excessive of $25,200 to a area of $20,000 up to now few days has negatively affected the worth of different altcoins, together with Kucoin Token (KCS). (Information from Kucoin)
Kucoin Token (KCS) Value Evaluation On The Weekly Chart
From the chart, the worth of KCS had a robust bullish bias at $22, however the worth was rejected from that area, resulting in a extra downward motion for KCS.
After seeing two weeks of bearish sentiment, the worth of KCS seems set to bounce from its key assist from what appears to be an space of curiosity for bulls.
The worth of KCS is confronted with resistance at $11 after it rallied from a low of $8.5; KCS wants to interrupt this area of resistance with good purchase quantity to development larger to $13.
If the worth of KCS fails to carry the assist at $8.5, we might see the worth going decrease to the assist space at $6.
Weekly resistance for the worth of KCS – $11-$13.
Month-to-month assist for the worth of KCS – $8-$6.
Value Evaluation Of KCS On The Day by day (1D) Chart
KCS’ weekly day by day low was $8.5, which fashioned good assist for the worth to bounce off. KCS’ worth rallied to $11 however couldn’t flip the resistance as the worth was sharply rejected.
KCS’ worth is at present buying and selling at $8.8 under the 50 and 200 Exponential Shifting Averages (EMA), appearing as resistance for the worth of KCS to interrupt larger.
The 50 and 200 EMA corresponds to costs at $10.3 and $13.3; for KCS to development larger, it wants to interrupt this area, appearing as resistance for KCS costs.
A break and shut above 50 EMA would sign a short-term reduction bounce whereas closing above the 200 EMA signifies a downtrend reversal to the upside of the present bearish development.
If the worth of KCS fails to carry the assist at $8.5, we might see the worth of KCS going to a decrease area for worth accumulation.
Day by day (1D) resistance for KCS worth – $10.3, $13.3.
Day by day (1D) assist for KCS worth – $8.5.
Value Evaluation Of KCS On The 4-Hourly (4H) Chart
The worth of KCS on the 4H chart has continued to look weak, attempting to carry above the assist space at $8.5; extra purchase orders on this area might see the worth of KCS going larger.
KCS has fashioned a bullish divergence on the 4H chart as the worth is oversold; we might see a bounce from this area for KCS worth, as $9 might act as minor assist. If this area is flipped, we’d see the worth going to a excessive of $10.3
The Relative Energy Index (RSI) for KCS on the 4H chart is under 30, indicating that KCS has been oversold.
4-Hourly (4H) resistance for KCS worth – $9-$10.3.
4-Hourly (4H) assist for KCS worth – $8.5.
Featured Picture From Coingape, Charts From TradingView.com