KCS/USDT (Testing $10 Monthly Support)

💎Technical Analysis Summary💎


KCS/USDT

-I was not able to share a view on the KCS coin last week because the market is in bad shape
-For the past few weeks, BTC has been trading downward and sideways but more on the bearish side
-Today, I needed to zoom out and look at the bigger picture to see if the trend still intact for KCS
-So far, the overall structure is still holding as we can see the key monthly support area is around $8-$10
-We can say the EMA23 is important because of how the price respected it previously between Aug 2019 to Jan 2021
-The good news is the price holding above the EMA23 but the candle is not yet finished so we need to be cautious
-If your trading idea before is to exit at a daily or weekly support breakdown that is fine because you are following your plan
-That is also how I trade the market, I always make sure to have an exit strategy if my bias doesn't go as planned
-There will always be another oppurtunity to get back to the market so we don't need to worry
-Keep in mind that sitting in cash is also a trading plan because you are waiting for your trading signal to trigger
-I will try to look at the weekly candle next time once we see good development in the crypto space
-Good luck and stay safe everyone!



KCS is the native token of KuCoin, which was launched back in 2017 as a utility token that allows traders to share the growth benefit of the exchange.
The total supply of KCS was set at 200 million, and there is a planned buyback and burn until just 100 million KCS remain.
KCS broke a new all-time high on December 1, 2021, reaching $28.77. Another significant milestone for KCS is the development of KCC.
KCS is used as the only fuel and native token for KCC and can be used to pay gas fees and support the development of projects built on KCC.


For more info about KCS, please visit the link under my Signature Field.



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