KCS, the native token of the Kucoin cryptocurrency exchange, is loud in the middle of a slowdown on the market scale. Altcoin has challenged the wider market slowdown with a price increase of 1% in the last 24 hours.
This modest increase can point out the start of a greater increased trend, as technical indicators show a strengthening of the ascending momentum. This analysis contains the details.
Pressure purchase intensifies for KCS
The readings of the daily graphic of KCS suggest that the upward pressure is built. In particular, its relative force index (RSI) is currently at 58.32 and is on an upward trend, confirming the request for reinforcement for Altcoin.
The RSI indicator measures excessive market conditions and occurs as an asset. It varies between 0 and 100, with values above 70 suggesting that the asset is exaggerated and due for a drop in prices. Convoresly, values of less than 30 indicate that the assets are occurring and can attend a rebound.
At 58.32 and climbing, KCS RSI indicates that the bullish momentum is gaining ground and that the purchase of pressure is intensifying.
In addition, the divergence of the mobile average convergence of the token (MacD) confirms this positive trend. To date, the MacD line of KCS (blue) is based above its signal line (Orange).
The MacD indicator of an asset identifies trends and momentum in its price movement. It helps merchants to identify potential purchase or sale signals via crosses between the MACD and the signal lines.
As in the case of KCS, when the MacD line is above the signal line, it indicates an upward momentum on the market. In addition, traders often consider this configuration as a purchase signal; Therefore, they could be invited to buy more KCS tokens, which increases its short -term value.
KCS tests the critical level because the bulls are targeting a 58 -day high
KCS is currently negotiated at $ 10.71, resting just below the resistance formed at $ 10.90. If the request for Altcoin increases and successfully transforms this price barrier into a support floor, it could propel the KC at $ 11.77, a last High reached on March 3.
However, if KCS holders regain profits, he could lose his recent earnings and fall to $ 10,027.
If the Bulls do not defend this level of support, KCS could prolong its decline, decompose by $ 10 to negotiate $ 8.94.
Non-liability clause
In accordance with the Trust project guidelines, this price analysis article is for information purposes only and should not be considered as financial or investment advice. Beincrypto is committed to exact and impartial reports, but market conditions are likely to change without notice. Always carry out your own research and consult a professional before making financial decisions. Please note that our terms and conditions, our privacy policy and our non-responsibility clauses have been updated.
