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Vikram
Mar 7, 2022
by Vikram

KCS Technical Analysis: Buyers Struggling To Withhold 200-day EMA

KCS
KCS coin price fails to surpass the $21 mark resulting in a retracement to the 200-day EMA. Will bears blast through the EMA again?

Key technical points:

  • KCS coin price retraces to the 200-day EMA close to $17.

  • The Stochastic RSI hints at the end of the bear cycle.

  • The 24-hour trading volume in the KuCoin is $4.94 Million, indicating a negligible rise of 1.90%. 

    • Past Performance of KCS

    KCS price continues the sideways movement between $17.75 and $21 with the recent downfall of 15% last week. The consolidation range makes the 50 and 100-day EMAs move sideways, which may give a bearish crossover as the downtrend gains momentum. However, the price rests at the support confluence of the 200-day EMA and $17.75. 

    TradingView Chart

    KCS Technical Analysis 

    KCS prices will face a downfall of almost 15% with the 200-day EMA fallout that will reach the $15 mark. Moreover, the overnight fall of 2.85% creates a bearish engulfing candle that increases the chances of a downfall.

    With the increasing selling pressure, the 50 and 100-day will shortly result in a bearish crossover. Moreover, the altcoin crossing below the trend defining 200-day EMA will mark a selling point.

    RSI Indicator: The RSI slope continues a sideways movement and tests the support of 40%. Despite multiple support at $17.75, no significant divergence indicates a bullish jump. 

    Stochastic RSI Indicator: The K and D lines enter the oversold zone and show a reversal that may shortly result in a bullish crossover. Hence, the indicator projects the possibility of a reversal from $17.75. 

    In short, KCS technical analysis warns about the double-edged nature of KuCoin at current prices. 

    Upcoming Trend

    KCS coin price will depend upon the 200-day EMA and $17.75 for the upcoming trend. As the selling pressure increases, the trend shows a bearish bias and may shortly reach $15 with the 200-day EMA fallout. 

    However, a bullish reversal from the trend-setting EMA will invalidate the bearish thesis, and a price jump to $21 is possible.

    Support Levels: $17.75 and $15

    Resistance Levels: $21 and $25

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    KuCoin KCS
    KCS Technical Analysis: Buyers Struggling To Withhold 200-day EMA
    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.

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