KCS/USDT ($13 Mid-Support)

💎Technical Analysis Summary💎


KCS/USDT


-This time, we are looking at the weekly time frame to provide a short term view
-KCS coin is respecting the 13 dollar key area which has a confluence of previous mid-resistance last April-September 2021
The price bounces off from this region twice from January 17 and recently last May 9.
-The bulls manage to trade above this key area despite the long wick down to 9 dollars where the 100W-MA is located
-Technically, buyers are still interested in holding this level and continue to push the price
-Though we can see a strong middle new resistance around 19-21 dollars which can pause the price going higher
-If the overall market will recover in the next few weeks, this is a good oppurtunity to form a new base of support
-A base of support around this 14 dollars and once it holds, a potential test of the trendline resistance above could play
-Only 1 week left before the monthly candle closes, and many are waiting on the sideline for the next move
-I will share my new update next few days if new data is developed


KCS is the native token of KuCoin, which was launched back in 2017 as a utility token that allows traders to share the growth benefit of the exchange.
The total supply of KCS was set at 200 million, and there is a planned buyback and burn until just 100 million KCS remain.
KCS broke a new all-time high on December 1, 2021, reaching $28.77. Another significant milestone for KCS is the development of KCC.
KCS is used as the only fuel and native token for KCC and can be used to pay gas fees and support the development of projects built on KCC.


For more info about KCS, please visit the link under my Signature Field.


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