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 positive aspects. Bitcoin (BTC) being rejected from a excessive of $25,200 to a area of $20,000 previously 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 value was rejected from that area, resulting in a extra downward motion for KCS.
After seeing two weeks of bearish sentiment, the value of KCS appears to be like 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 larger 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.
Month-to-month help for the value of KCS – $8-$6.
Value Evaluation Of KCS On The Each day (1D) Chart
KCS’ weekly each day low was $8.5, which fashioned good help for the value to bounce off. KCS’ value rallied to $11 however couldn’t flip the resistance as the value was sharply rejected.
KCS’ value is at the moment 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 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 aid bounce whereas closing above the 200 EMA signifies a downtrend reversal to the upside of the present bearish development.
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 value accumulation.
Each day (1D) resistance for KCS value – $10.3, $13.3.
Each day (1D) help for KCS value – $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 may see the value of KCS going larger.
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 value, 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 Energy Index (RSI) for KCS on the 4H chart is under 30, indicating that KCS has been oversold.
4-Hourly (4H) resistance for KCS value – $9-$10.3.
4-Hourly (4H) help for KCS value – $8.5.
Featured Picture From Coingape, Charts From TradingView.com