- The RSI line bearish divergence in the daily time frame chart
- The KCS/BTC pairing traded at 0.0003669 BTC, with a gain of 7.25%
- The KCS token’s 24-hours trading volume is $52.7 Million, indicating a 5.99% hike
As mentioned in my previous article on Kucoin, The KCS aimed to reclaim the $15.7-15 resistance, which provided a quick long for the crypto traders to the All-Time High of $19 mark. Furthermore, on November 2nd, the token price even breaches this overhead resistance indicating more potential for this token.
As per the EMAs, the KCS token price is trading higher than the crucial EMAs of 20, 50, 100, and 200, indicating a solid uptrend.
The RSI value is at 71, indicating a bullish sentiment for this token. However, the RSI chart showed a bearish divergence concerning the coin price action, indicating weakness in this rally.
The KCS Token Chart In The 4-hour Time Frame
After the breakout of $19 resistance, the KSC price surged 30% and marked $24.7 as the New All-Time High for this token. Later it showed a minor pullback that tried to breach this overhead resistance too.
However, the token price has the hardest time to breach this new resistance; as for today, it’s his 4th attempt to challenge this ATH level and is currently indicating an evening star candle pattern, indicating another bearish reversal. Furthermore, the 50 EMA line is providing strong dynamic support to the KCS price.
The MACD indicator shows that both the MACD and signal lines are above the neutral area (0.00), indicating a bullish momentum is still intact.
Conclusion: From a technical perspective, the KCS token has shown a remarkable rally in its chart, providing new higher highs and higher lows one after another. The token price has recently reclaimed the crucial resistance of $19, and after rallying to $24, the crypto can expect a minor retracement phase.
Support – $20
Resistance- $24