The KuCoin token earlier displayed a rejection from the supply after a wonderful uptrend in price action from $4.00 to $16.0. KCS crypto confirmed a sign of weakness as the price plunged from a key level of around $16 on the chart.
The KCS crypto is close to a huge drop, as it reached already the resistance level and seeking to reach new depths by shattering the current support zone.
The KuCoin asset is demonstrating bearishness and downward momentum as it sinks below the major trend 20-Day EMA, subject to the sellers’ surge, the price could become a falling knife and break supports.
The KCS asset is showing bearish signs as MACD shows a bullish crossover, the histogram is making a negative graph at -0.2480 and the RSI is below the 50 level, indicating that the KuCoin asset is still in a bearish zone and can descend lower.
The KuCoin crypto asset is displaying bearish characteristics and could cut its losses. Last week, KCS fell 15.73% indicating that this could be the beginning of a consistent downward trend.
At the time of writing, the KCS token is at $12.62 with an intraday drop of 9.99%. Therefore, if its proclaimed gains decline steadily and it goes below major dynamic support levels, it could decline further. On the flip side, if KuCoin reverses from nearest support it could incline and aim towards $20.0 northward and primary resistance would be $16.0 mark.
KuCoin Price, Volume, And Volatility (1W) Evaluation
This chart exhibits the contrast between the volatility with the price movement in the KuCoin crypto. On examination, it shows that the KCS crypto has witnessed wonderful growth in earlier sessions. But recent chart price shows that it failed to jump supply and declined, while volatility has not declined as much. This signifies that the volatility is considerably high.
KCS seems particularly unstable at recent price support levels, which displays that sellers are strong and buyers are losing ground. Moreover, the volume analysis shows that the KCS cryptocurrency received $5.7 Million in volume, and volatility stands at 0.045. The price vs volume charts describe a hefty decline in volume along with the price, suggesting an extension of the downtrend.
30-Day Market Value to Realize Value Shows KuCoin Price is Likely To Decline
The following chart shows that the KuCoin’s price and MVRV rate are positively correlated and signifies that they are moving in the same direction.
When the KCS price increases, the MVRV ratio also increases, which indicates that more investors are entering. Similarly, when the KuCoin price decreases, the ratio also decreases, which suggests that more investors are losing money.
The chart shows MVRV dropping, highlighting that the 30-Day MVRV ratio for KuCoin crypto has decreased and in correlation, the price shows correction starting from the nearest supply zone. It illustrates that the KCS price could fall sharply as more investors may sell more, potentially triggering a sharp drop.
Summary
The analysis of price, volume, and volatility over the past week reveals high volatility, indicating instability in the price and suggests that the downtrend may persist. The volume has decreased alongside the price, reinforcing the likelihood of a prolonged decline.
Additionally, this decrease in the MVRV ratio, along with the price correction from the supply zone, suggests that the KCS price could experience a significant drop as more investors may decide to sell, potentially exacerbating the price fall.
Currently, KCS is trading at $12.62, amid a sharp intraday drop of 9.99%. If this downward trend continues and the token moves below key support levels, it could decline further. Conversely, if KCS finds support and reverses its trajectory, there’s potential for a rise to the $20.0 mark, with the primary resistance at $16.0.
Technical Levels
Support Levels: $10.0
Resistance Levels: $16.0
