KuCoin Token (KCS) | Multiple Timeframes

14 февр. 2022 г.

Kucoin Token vs Tether (KCSUSDT) has an interesting chart.
We will be looking at multiple timeframes.

Let's start with the monthly...

Here we can see KCSUSDT in a strong uptrend starting January 2021. That's over a year of continued growth.

The first peak happened in April 2021 and then a new high just shy of the previous one in November/December 2021, basically the same as Bitcoin.

The trading volume has been declining ever since January 2021, this can be considered a continuation signal on this chart or a distribution phase.

KCUSDT monthly stays bullish above EMA10 or $15.8.
Below this level we will see a test of lower support around $11.11 or EMA21.

In general, the technicals are bullish but near resistance/high prices, corrections can develop at anytime.

Now the weekly timeframe to get more in-depth information:

The pattern we are seeing can break either way and is a consolidation pattern.

EMA50 is working as support on this timeframe and has been tested three times, this coincides with the rising trend-line.

You can find the potential targets and support levels on this chart.

To finish, the daily timeframe makes it clear that we are in a decision point:

KCSUSDT is trying to resume its rally but this is not confirmed until prices move and close above $23.5... Trading below this level can increase the risk of a sudden drop.

The longer KCSUSDT remains below the last high, the higher the chances that it will correct before additional growth.

I would be really cautious on this one until a clear buy setup shows up.

Thank you for reading.
This is not financial advice.
I am just reading the charts.

Namaste.