KuCoin Shares Price Analysis - KCS Remains Unwavering after Dropping from Its Peak Price near Ƀ0.000164
|⠀KuCoin Shares price:||Ƀ0.0001374|
|⠀Key KCS resistance levels:||Ƀ0.00014, Ƀ0.00015, Ƀ0.00016|
|⠀Key KCS support levels:||Ƀ0.00013, Ƀ0.00012, Ƀ0.00011|
*price at the time of writing
KuCoin Shares (KCS) Price Long-term Trend: Bearish
On October 26, KuCoin Shares surprisingly fell after reaching the peak price of Ƀ0.000164 overhead resistance. The market nosedived to a low of Ƀ0.0001342. However, in mid-October, the coin was becoming a growing exchange volume which rallied in the past few days. KCS shares could comfortably compete with other cryptocurrencies.
Presently, the coin has been battered as it fell and found support at the previous low above the Ƀ0.00013 support level. The pair had earlier been trading above the Ƀ0.00013 support level for the past three months. Presently, KuCoin Shares is trading at Ƀ0.0001374 with a price down by 9.61% today. The market cap of KuCoin Shares is 11,942 BTC with 86,863,551KCS circulating currently.
Daily Chart Indicators Reading:
The stochastic indicator is at the oversold region suggesting bulls to take control of price. The price is below the 20% range but the indicator is making a U-turn upward in the oversold region. The EMAs are trending southward indicating the downward move.
KuCoin Shares (KCS) Price Medium-term Prediction: Bearish
On the Daily Chart, the price traded above the Ƀ0.00016 resistance level and formed a triple top pattern. The bulls had intended to push the price higher but were overwhelmed by the bears. The selling pressure continued but a retest at the Ƀ0.00015 price level was made as the market found support above the Ƀ0.00013 support level. The coin is at the bottom of the chart trending in a sideways move.
HourlyChart Indicators Reading:
The coin’s exponential moving averages are horizontally flat indicating the sideways movement. The MACD line and the signal line are trading below the zero line indicating that the market is still in the bearish trend zone.
General Outlook for KuCoin Shares (KCS)
The KCS/BTC pair seems to have reached the oversold region of the market. Previously, the market has been trading above the Ƀ0.00013 support level for the past three months. It is likely that the market will respect the historical price of the Ƀ0.00013 support level. Nevertheless, if the support level holds, KCS will resume its upward movement.