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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 up to now few days has negatively affected the worth of different altcoins, together with Kucoin Token (KCS). (Data from Kucoin)

Kucoin Token (KCS) Price Analysis On The Weekly Chart 

From the chart, the worth 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 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 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.

Price Analysis Of KCS On The Daily (1D) Chart

KCS’ weekly 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 presently buying and selling at $8.8 under the 50 and 200 Exponential Moving 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 development 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 development.

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.

Daily (1D) resistance for KCS worth – $10.3, $13.3.

Daily (1D) help for KCS worth – $8.5.

Price Analysis Of KCS On The Four-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 Strength Index (RSI) for KCS on the 4H chart is under 30, indicating that KCS has been oversold.

Four-Hourly (4H) resistance for KCS worth – $9-$10.3.

Four-Hourly (4H) help for KCS worth – $8.5.

Featured Image From Coingape, Charts From TradingView.com