TradeCityPro | KCS: Navigating KuCoin's Cryptocurrency Waters👋 Welcome to TradeCityPro!
In this analysis, I will be examining the KCS coin, associated with the KuCoin exchange, one of the largest crypto exchanges globally.
📅 Weekly Timeframe
In the weekly timeframe, we are witnessing a very large and long-term range box, where the price has been fluctuating for about 1421 days. The price floor of the box is at 3.905 and the ceiling at 25.505.
🧩 This range box is vast, about 500% wide, but considering the volume and market cap of this coin, it makes sense for it to oscillate in such a broad range over 1400 days.
📈 Currently, the price is moving upwards from the box's floor towards its ceiling, with buying volume gradually increasing along this path and decreasing during corrections, indicating a strong bullish trend.
✨ The main resistance the price is now approaching is at 14.884, which the price has touched once before and is currently attempting to test again after rebounding off the trend line.
📊 If the area at 14.884 is breached, there is no significant resistance until the box's ceiling, and the price could stabilize above 14.884 and move towards 25.505. Increased buying volume and breaking through RSI regions could assist the price in reaching this target.
🔽 Should the trend line break and corrections begin, significant correction areas would be at 5.853 and the main support at 3.905. Such a correction could occur if the broader market and other altcoins also enter a correction phase.
📅 Daily Timeframe
In the daily timeframe, we observe an upward price structure starting from a base of 7.247, with the first leg moving up to 13.749.
🔍 The upward move corrected to the 10.546 area, coinciding with the 0.5 Fibonacci level, and after forming a smaller box visible in lower timeframes, the price is again trending upwards.
✅ The next immediate resistance is at 13.749, which appears accessible, and I expect the price to reach it soon. Breaking this area could see the next resistance at 15.775.
📉 In a correction scenario, if the price creates a lower high than 13.749, a decline to at least 10.546 is plausible. Further correction zones would be the 0.618 Fibonacci level at 8.719. Breaking these levels could bring the next support at 7.247 into play.
⚡️ If the RSI drops below 50, it could confirm the onset of bearish momentum in the market. This is a risky move, and I prefer to wait for more certain triggers.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
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