KCS Technical Analysis: Evening Star Warns Drop Under $9

The Kucoin (KCS) price action shows an evening star pattern forming at $10, teasing a fall to the bottom support level at $8. Key Technical Points: The KCS prices dropped by 3.73% in the last 24 hours. The price action warns of an evening star pattern formation, teasing a drop under the $9 mark. The 24-hour trading volume of Kucoin is $5.38 Million, indicating an increase of 9.40%. Past Performance of KCS The KCS price action shows a bullish reversal from the $8 mark resulting in the resistance trendline breakout in the daily chart. The bullish trend accounts for a price jump of 25 percent over the last month and exceeds the $9 mark. However, the recent evening start pattern formation at $10 warns of a bearish retracement resulting in a drop under the $9 mark. Source – Tradingview KCS Technical Analysis KCS price chart shows a declining trend during the evening star pattern formation in the trading volume displaying a lack of bearish commitment. Hence, traders can expect a bullish reversal from the next horizontal support level. The RSI indicator displays an increase in selling please as the slope takes a rounding reversal to dip under the halfway line. Therefore the technical indicator shows a high momentum retest phase threatening a fall under the $9 mark. Furthermore, the MACD indicator displays a bullish trend in the fast and slow lines maintaining a positive approach to reach the zero line. In a nutshell, the KCS technica...