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KuCoin Token / Tether

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KCSUSDT trade ideas

KuCoin Bounces Off 45 Day Channel Support-KCS has dropped nearly 80% from its ATH -Kucoin has found support at the $6 range -RSI faces 2 week trend line Kucoin has had an amazing last year rising over 1500%. In the past few weeks KCS has gave up much of these gains as the entire market experienced its worse sell off in over a year. KCS has held strong support level of $6.31. This area is met with the bottom trend line of the descending channel. Kucoin has respected this descending channel for nearly 2 months. If the support range of $5-$6 cannot hold, expect a retracement to $4.40 zone. The 30MA has held as resistance for nearly 2 weeks. KCS must break and hold this MA to have a shot at breaking the major resistance of $8.56. If Kucoin manages to break this resistance and hold, it will likely rally to $10.35 and potential the top trend of the channel. 

 While looking at the Stoch RSI, we can conclude that strength has strongly revived out of oversold levels. Strength must curl around back to overbought area to have a shot at breaking resistance. The regular RSI has been held down by a trend for over 2 weeks. Once this breaks, KCS is ready to uptrend. KCS intraday levels Spot rate: $7.07 Trend: Bearish Volatility: High
 Support: $6.30 Resistance: $8.56
by CoinGape
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