KCSUSDT near the 2 year Support trend-line
The KuCoin token (KCSUSDT) has followed the overall crypto market to the downside this past week, with the 1D RSI marginally breaking below the oversold 30.00 level. However, there is no cause for concern that the long-term bullish trend is reversing, as the Higher Lows trend-line that has been supporting the price since the February 28 2021 Low and held on another five Higher Lows, hasn't yet been reached.
In fact, the price, on RSI and candle terms, seems to be following the bottom sequence of May 19 - 2021 - June 22 2021. Technically, the next time the 1D MA50 (blue trend-line) breaks, we should return to the bullish trend within this Fibonacci Channel.
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In fact, the price, on RSI and candle terms, seems to be following the bottom sequence of May 19 - 2021 - June 22 2021. Technically, the next time the 1D MA50 (blue trend-line) breaks, we should return to the bullish trend within this Fibonacci Channel.
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** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
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