Kucoin Token Struggles To Hold Key Support At $8, How Low Can It Go?

The worth of Kucoin Token (KCS) has struggled to carry its key help in opposition to Tether (USDT) in latest occasions after displaying an awesome 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 previously few days has negatively affected the worth of different altcoins, together with Kucoin Token (KCS). (Information from Kucoin)

Kucoin Token (KCS) Worth 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 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 pattern larger to $13.

If the worth of KCS fails to carry the help at $8.5, we may 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.

Worth 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 the moment buying and selling at $8.8 under the 50 and 200 Exponential Transferring Averages (EMA), performing 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 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 aid bounce whereas closing above the 200 EMA signifies a downtrend reversal to the upside of the present bearish pattern.

If the worth of KCS fails to carry the help at $8.5, we may 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.

Worth 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 worth of KCS going larger. 

KCS has fashioned a bullish divergence on the 4H chart as the worth 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’d see the worth 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