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• KCS’ worth exhibits energy as the worth stays inexperienced regardless of the market’s uncertainty. 
• KCS bounces from the downtrend as the worth breaks out of a descending triangle with robust purchase quantity. 

• The worth of KCS exhibits bullish indicators as the worth trades above 50 Exponential Moving Averages (EMA) with good quantity. 

Kucoin Token (KCS) worth motion has not too long ago proven some nice worth motion as the worth gained momentum to bounce from a downtrend in opposition to tether (USDT). Although the crypto market is presently going through a brand new setback, Bitcoin’s (BTC) worth has dropped from $19,000 to $18,100 because the Consumer Price Index (CPI) signifies a rise in inflation, which impacts the worth of BTC and altcoins. The worth is again up at $19,200 doesn’t counsel bulls have recovered the market. (Data from Kucoin)

Kucoin Token (KCS) Price Analysis On The Weekly Chart

Given the sharp decline within the crypto market after the discharge of the CPI information, the market seemed to be manipulated, with Bitcoin (BTC) dropping from $19,200 to $18,200 in hours after which again as much as a spread excessive of $19,800 earlier than rejection again to $19,200. With the opportunity of Bitcoin Dominance (BTC.D) rising to a excessive of 45%, altcoins may undergo extra if BTC retraces. 

After dropping to a low of $8.5 in latest weeks, this time has proved somewhat powerful for KCS consumers contemplating the bear market has seen extra of a downtrend motion than an uptrend affecting the worth of KCS. 

The worth of KCS presently trades at $9.9 as the worth faces resistance to breaking increased; KCS wants to interrupt the resistance at $10-$11 for the worth to development to a excessive of $13. With the present worth motion for KCS, we may see the worth breaking this resistance zone with extra purchase orders. If the worth of KCS fails to interrupt this area, we may retest the assist at $9 to carry the worth sell-off.

Weekly resistance for the worth of KCS – $10-$11.

Weekly assist for the worth of KCS – $9.

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

The each day timeframe for the worth of KCS appears good after the worth confirmed nice indicators of a possible breakout from its lengthy downtrend vary as the worth has discovered its motion between $8.5-$9.9. 

KCS’s worth holds robust above the 50 Exponential Moving Average (EMA); the worth of $9.3, which corresponds to the 200 EMA, acts as robust assist for the worth of KCS on the each day timeframe.

The worth of KCS must breakout of this range-bound motion for the worth to commerce to a excessive of $12-$13. 

Daily resistance for the worth of KCS – $10.5-$11.

Daily assist for the worth of KCS – $9.3-$8.5.

Featured Image From zipmex, Charts From Tradingview