Kucoin Token Struggles To Hold Key Support At $8, How Low Can It Go?
![](data:image/svg+xml;utf-8,<svg xmlns="http://www.w3.org/2000/svg" width="1280" height="720" />)
The price of Kucoin Token (KCS) has struggled to hold its key support against Tether (USDT) in recent times after showing a great recovery bounce as it cracks double-digit gains. Bitcoin (BTC) being rejected from a high of $25,200 to a region of $20,000 in the past few days has negatively affected the price of other altcoins, including Kucoin Token (KCS). (Data from Kucoin)
From the chart, the price of KCS had a strong bullish bias at $22, but the price was rejected from that region, leading to a more downward movement for KCS.
After seeing two weeks of bearish sentiment, the price of KCS looks set to bounce from its key support from what seems to be an area of interest for bulls.
The price of KCS is faced with resistance at $11 after it rallied from a low of $8.5; KCS needs to break this region of resistance with good buy volume to trend higher to $13.
If the price of KCS fails to hold the support at $8.5, we could see the price going lower to the support area at $6.
Weekly resistance for the price of KCS – $11-$13.
Weekly support for the price of KCS – $8-$6.
Source:
1 comment