KCS/USDT (Potential Daily Support?)

💎Technical Analysis Summary💎


KCS/USDT

-We know BTC has been moving downwards for the past few weeks or months now
-All Altcoin are following the same path as Bitcoin and KCS is one of the samples
-By looking at the daily timeframe of KCS, we can say a new base of support is being established
-Now, on the bearish side, a trendline of resistance is likely to play a part in the next week's trading
-Also, the previous swing low last May 2022 flipped into new resistance last two weeks
-If the bulls can defend its recent low at around 9 dollars and see a good bounce
-The price could retest the downward resistance line near 10 dollars
-From there, we will have to re-assess if KCS can sustain and confirm a breakout
-If BTC can show any sign of strength and remain stable this month of July
-Then would expect a good time for the Altcoin space too
-Please be cautious because we are trading against the trend
-Always use a stop-loss placed under key areas or invalidation level
-Good luck and stay safe everyone!


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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