menuIcon
$ 83,148.5
BTC
$ 83,148.5
-1.01 %
$ 1,843.97
ETH
$ 1,843.97
-2.32 %
$ 0.6828
ADA
$ 0.6828
-1.70 %
$ 611.49
BNB
$ 611.49
0.76 %
$ 126.45
SOL
$ 126.45
-1.02 %
Vikram
May 16, 2022
by Vikram

KCS Technical Analysis: Bears Get Monday Motivation To Retest $13

KCS
KCS prices inflate significantly over the weekends but face a bearish coup in the new week. So should you remain bullish as the price sustains above $13?

Key technical points:

  • KCS prices grew 35% to form a triple white soldier pattern.

  • The recent drop in Market value retests the $13 mark.

  • The 24-hour trading volume of Kucoin is $9.71 Million, indicating a 30% drop. 

    • Past Performance of KCS

    As mentioned in our previous analysis, KCS prices break under the crucial support level of $17.2, resulting in a downfall below the psychological mark of $15. During the last week, the increased selling pressure took support at the $10 mark, resulting in a lower price rejection and forming a morning star pattern. Furthermore, the reversal pattern drove the Kucoin market value 35% higher during the weekend. 

    TradingView Chart

    KCS Technical Analysis 

    The morning star-driven rally in the KCS prices comes to a halt as the sellers above $14 overtake trend control. This plunges the Kucoin price by 5% today to retest the $13 level and forms a piercing candle.

    The bearish last week brought significant change in the crucial EMAs (50, 100, 200-days) direction resulting in a death cross. Moreover, the falling trend continues despite the weekend recovery, warning of a bearish crossover between 100 and 200-day EMAs to regain complete bearish alignment.

    The sharp reversal in RSI values from the oversold territory surpasses the 14-day average scores and approaches the halfway mark. However, a sideways trend developing in the ADX line reflects a loss in trend momentum.

    In short, the KCS technical analysis depicts a high probability of uptrend continuation above the $13 mark.

    Upcoming Trend

    Considering the selling grows over the day, the KCS prices will breach the milestone of $13 to reach the $10 mark. However, if buyers withhold the $13 barrier, it will result in a prolonged uptrend to breach $15 and touch the height of $17.75.

    Support Levels: $13 and $10

    Resistance Levels: $15 and $17.75

    Follow us on: News
    KuCoin KCS
    KCS Technical Analysis: Bears Get Monday Motivation To Retest $13
    Vikram
    Vikram is a technical analyst with several years of experience in the crypto market & Indian Equity and F&O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

    Top Picks