KuCoin Token (KCS) | Multiple Timeframes

2022年2月14日

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.