KuCoin Shares Technical Analysis: KCS/USD recovers from a 42% flash crash and gets closer to $1 again
- KCS/USD suffered a massive flash crash from $0.86 down to $0.5 in a matter of minutes before recovering.
- KCS is usually not very volatile but can experience a lack of liquidity.
KuCoin Share is a token created by KuCoin, the cryptocurrency exchange. KCS holders receive dividends in the form of other tokens. The flash crash on July 7 is definitely weird, although it can be attributed to a lack of liquidity. Fortunately, KCS crashed and recovered within 30 minutes but not entirely. KCS was trading at around $0.82 before the crash and only managed to recover to around $0.74. Hours later, bulls finally pushed KCS back up to $0.82.
KCS/USD daily chart
Either way, the daily chart remains in a downtrend and KCS is still trading below the 12-EMA which has acted as a strong resistance level for the past month. The most important nearby levels to beat are $0.848 followed by $0.87.
Author
Lorenzo Stroe
Independent Analyst
Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.
