KCS Technical Analysis: Expect a Price Pullback as of $11.13
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KCS Technical Analysis: Expect a Price Pullback as of $11.13

April 7, 2021      Ankita Awasthi

In technical analysis, KuCoin is a technologically advanced cryptocurrency exchange to trade in various digital currencies like Bitcoin, Ethereum, Litecoin, etc. It is a highly secure and speedy platform for digital transactions. KCS is its prime governance token. The KCS technical analysis will project price momentum for the next two days.

Past Performance

On March 31, 2021, KCS started trading at $5.20. As of April 5, 2021, the closing price of KCS is $11.14. Thus, in the past week, the KCS price has risen by roughly 114.23%. In the last 24 hours, KCS has traded between $10.50-$11.74.

KUCOIN Price Analysis

https://www.tradingview.com/x/b9MmXK5H/

Day-Ahead and Tomorrow

Currently, KCS is trading at $11.30. The price has increased from the opening price of $11.16. Thus, the market looks positive.

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The MACD and signal lines have turned positive. However, a bearish crossover by the MACD line over the signal line has occurred. Hence, a trend reversal is on the horizon, but we can expect a price pullback as of now.

The OBV indicator has started rising gradually. Thus, buying volumes are higher than selling volumes. Hence, we can expect the price to rise further.

Currently, the RSI indicator is at 60%. It has just fallen from the ‘overbought’ region. It is a good time for day traders to go short. Hence, buying pressures are still high, and we can expect the price to go up further.

KCS Technical Analysis

As per technical analysis, currently, KCS is trading above the Fibonacci pivot point of $11.13. As the bulls are strong, we can expect the price to surpass the first, second, and third Fibonacci pivot resistance levels of $11.61, $11.90, and $12.38, respectively.

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The price has tested and broken out of the 61.8% FIB retracement level of $11.27. It may soon surpass the 76.4% FIB retracement level of $11.45 too. As the price uptrend is strong, we can expect the bull-run to continue tomorrow as well.

#KCS #KuCoin
Ankita Awasthi
Ankita Awasthi

Ankita is reading geek by birth, she loves to read and write about finance and now cryptocurrencies and blockchain since 2017. A Bitcoin enthusiast ever since, she likes to understand businesses and how they affect everything else. Ankita contributes on our news bulletin with the latest happening in blockchain, crypto and ICO market specifically.