Daniel from Improve Press
The value of Kucoin Token (KCS) has struggled to carry its key help in opposition to Tether (USDT) in current occasions after exhibiting a terrific restoration bounce because it cracks double-digit positive aspects. 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 value of different altcoins, together with Kucoin Token (KCS). (Knowledge from Kucoin)
Kucoin Token (KCS) Value Evaluation On The Weekly Chart
From the chart, the value 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 value of KCS seems set to bounce from its key help from what appears to be an space of curiosity for bulls.
The value 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 pattern larger to $13.
If the value of KCS fails to carry the help at $8.5, we might see the value going decrease to the help space at $6.
Weekly resistance for the value of KCS – $11-$13.
Month-to-month help for the value of KCS – $8-$6.
Value Evaluation Of KCS On The Day by day (1D) Chart
KCS’ weekly each day low was $8.5, which shaped good help for the value to bounce off. KCS’ worth rallied to $11 however couldn’t flip the resistance as the value was sharply rejected.
KCS’ worth is presently buying and selling at $8.8 under the 50 and 200 Exponential Shifting Averages (EMA), performing as resistance for the value of KCS to interrupt larger.
The 50 and 200 EMA corresponds to costs at $10.3 and $13.3; for KCS to pattern larger, 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 pattern.
If the value of KCS fails to carry the help at $8.5, we might see the value 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) help for KCS worth – $8.5.
Value Evaluation Of KCS On The 4-Hourly (4H) Chart
The value of KCS on the 4H chart has continued to look weak, attempting to carry above the help space at $8.5; extra purchase orders on this area might see the value of KCS going larger.
KCS has shaped a bullish divergence on the 4H chart as the value 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 value going to a excessive of $10.3
The Relative Power 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) help for KCS worth – $8.5.
Featured Picture From Coingape, Charts From TradingView.com
