TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
|

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 Shares Technical Analysis: KCS/USD recovers from a 42% flash crash and gets closer to $1 again
Lorenzo StroeLorenzo StroeIndependent Analyst

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 

KCSUSD

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

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.

More from Lorenzo Stroe
Share:

Editor's Picks

Why Bitcoin's over 30% rebound doesn't mean the bear market cycle is done

Why Bitcoin's over 30% rebound doesn't mean the bear market cycle is done

Bitcoin has staged a strong recovery after falling to a yearly low of $57,800 in July, gaining nearly 33% and recording two consecutive months of gains in July and August. Is this the start of a new bullish phase, or simply another recovery within a broader bear-market cycle?



Crypto Overview: Bitcoin extends mild recovery – Near Protocol, Uniswap rally

Crypto Overview: Bitcoin extends mild recovery – Near Protocol, Uniswap rally

Bitcoin hovers above $77,000 on Friday, holding steady with minor gains after Tuesday’s 3% decline. Bitcoin holds steady as the Bank of Japan raises interest rates from 1% to 1.25% on Friday. Near Protocol and Uniswap record double-digit gains over the last 24 hours, emerging as top performers.

S&P Global to acquire OpenZeppelin in on-chain security expansion

S&P Global to acquire OpenZeppelin in on-chain security expansion

S&P Global has agreed to acquire blockchain security firm OpenZeppelin as the financial data and analytics company expands its on-chain risk assessment capabilities. The acquisition, announced Thursday, will bring OpenZeppelin’s smart contract security services, development tools and open-source libraries into S&P Global’s existing digital asset and risk assessment business.

CFTC advances targeted crypto regulatory relief as CLARITY Act stalls

CFTC advances targeted crypto regulatory relief as CLARITY Act stalls

The Commodity Futures Trading Commission (CFTC) is taking targeted steps to accommodate financial technology innovation as broader digital asset market-structure legislation remains stalled in Congress.
Bitcoin: BTC retreats as macro headwinds grow

Bitcoin: BTC retreats as macro headwinds grow

Bitcoin (BTC) remains under pressure, down over 4% this week and trading around $76,900 at the time of writing on Friday. Institutional demand shows signs of weakness as spot BTC Exchange Traded Funds (ETFs) are on track to end their three-week inflow streak, recording nearly $500 million in net outflows through Thursday.