The worth of Kucoin Token (KCS) has struggled to carry its key help towards Tether (USDT) in latest instances after exhibiting an incredible restoration bounce because it cracks double-digit positive factors. Bitcoin (BTC) being rejected from a excessive of $25,200 to a area of $20,000 prior to now few days has negatively affected the value of different altcoins, together with Kucoin Token (KCS). (Information 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 to be 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 pattern greater to $13.
If the value of KCS fails to carry the help at $8.5, we may see the value going decrease to the help space at $6.
Weekly resistance for the value of KCS – $11-$13.
Weekly help for the value of KCS – $8-$6.
Value Evaluation Of KCS On The Every day (1D) Chart
KCS’ each day low was $8.5, which fashioned 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 at present buying and selling at $8.8 under the 50 and 200 Exponential Shifting Averages (EMA), appearing as resistance for the value of KCS to interrupt greater.
The 50 and 200 EMA corresponds to costs at $10.3 and $13.3; for KCS to pattern greater, 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 pattern.
If the value of KCS fails to carry the help at $8.5, we may see the value of KCS going to a decrease area for worth accumulation.
Every day (1D) resistance for KCS worth – $10.3, $13.3.
Every 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, attempting to carry above the help space at $8.5; extra purchase orders on this area may see the value of KCS going greater.
KCS has fashioned a bullish divergence on the 4H chart as the value is oversold; we may see a bounce from this area for KCS worth, as $9 may 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
