KCS/USD - Uptrend Lost. Support at $10 and $9. 😲
As expected KuCoin Token has lost the uptrend after some clear bearish signals earlier this week. See below the past idea.
Now the price is expected to test the support at $10. If that can't hold sellers, then the next key level is at $9.3. The resistance remains at $11.
The daily indicators are quickly turning bearish and MACD is about to do a bearish cross at this rate. The RSI remains above 50 points for now, but OBV is falling below the key moving averages which is another bearish signal.
It's unlikely the market will bounce here and a more substantial correction could develop after the rally in July/Aug.
Best to hold some cash for some juicy discounts later on on KCS.
Like and follow if you liked this idea.
Now the price is expected to test the support at $10. If that can't hold sellers, then the next key level is at $9.3. The resistance remains at $11.
The daily indicators are quickly turning bearish and MACD is about to do a bearish cross at this rate. The RSI remains above 50 points for now, but OBV is falling below the key moving averages which is another bearish signal.
It's unlikely the market will bounce here and a more substantial correction could develop after the rally in July/Aug.
Best to hold some cash for some juicy discounts later on on KCS.
Like and follow if you liked this idea.
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