The worth of Kucoin Token (KCS) has struggled to carry its key help towards Tether (USDT) in current occasions after displaying an excellent restoration bounce because it cracks double-digit features. 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). (Knowledge from Kucoin)
Kucoin Token (KCS) Value Evaluation On The Weekly Chart
From the chart, the worth of KCS had a powerful 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 help 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 increased to $13.
If the worth of KCS fails to carry the help at $8.5, we might see the worth going decrease to the help space at $6.
Weekly resistance for the worth of KCS – $11-$13.
Weekly help for the worth of KCS – $8-$6.
Value Evaluation Of KCS On The Each day (1D) Chart
KCS’ day by day low was $8.5, which fashioned good help 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 beneath the 50 and 200 Exponential Shifting Averages (EMA), performing as resistance for the worth of KCS to interrupt increased.
The 50 and 200 EMA corresponds to costs at $10.3 and $13.3; for KCS to development increased, it wants to interrupt this area, performing 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 help at $8.5, we might see the worth of KCS going to a decrease area for worth accumulation.
Each day (1D) resistance for KCS worth – $10.3, $13.3.
Each day (1D) help 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, making an attempt to carry above the help space at $8.5; extra purchase orders on this area might see the worth of KCS going increased.
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 help. If this area is flipped, we might see the worth going to a excessive of $10.3
The Relative Energy Index (RSI) for KCS on the 4H chart is beneath 30, indicating that KCS has been oversold.
4-Hourly (4H) resistance for KCS worth – $9-$10.3.
4-Hourly (4H) help for KCS worth – $8.5.
Featured Picture From Coingape, Charts From TradingView.com
