KCSUSDT Important Lower Highs trend-line for the short-term.
The KuCoin token (KCSUSDT) got rejected heavily on Friday as it failed to break above the 1D MA50 (red trend-line). As a result it failed to sustainably recover the 4H MA50 (blue trend-line) and dropped to a new Lower Highs trend-line.
That live has provided the previous (short-term) rebound on August 19. The common characteristic is that when the price rebounded on the trend-line, the 4H RSI bounced also on its Support Zone that goes back to June 19. As you see, whether KCS has been on an uptrend (Higher Lows) or (now) a downtrend (Lower Highs), it was provided always a price jump.
When it was on an uptrend, the price always hit the 4H MA100 (green trend-line) as part of a Support Zone, so we expect that it will do the same, this time as part of a broader Resistance Zone. As a result, if the price rebounds, we will be targeting the 4H MA100 on the short-term.
A break above the 4H MA200 (orange trend-line) should be enough to restore the medium-term bullish trend. A closing below the Lower Highs trend-line, should start a quick drop back to the 8.040 Support.
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That live has provided the previous (short-term) rebound on August 19. The common characteristic is that when the price rebounded on the trend-line, the 4H RSI bounced also on its Support Zone that goes back to June 19. As you see, whether KCS has been on an uptrend (Higher Lows) or (now) a downtrend (Lower Highs), it was provided always a price jump.
When it was on an uptrend, the price always hit the 4H MA100 (green trend-line) as part of a Support Zone, so we expect that it will do the same, this time as part of a broader Resistance Zone. As a result, if the price rebounds, we will be targeting the 4H MA100 on the short-term.
A break above the 4H MA200 (orange trend-line) should be enough to restore the medium-term bullish trend. A closing below the Lower Highs trend-line, should start a quick drop back to the 8.040 Support.
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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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