KCS is the KuCoin native Token that serves as a profit-sharing token that allows traders to draw value from the exchange. Just like BNB is the native token of Binance, KCS has the same potential and it’s a very good investment for the long term.

Fundamental-wise, no doubt it’s strong, but it is a good time to purchase and hold them? Technical is the answer to knowing that.

Starting from the Monthly Time Frame, the price initially was in the Premium range, but it went in discount and rejected beautifully off the Order Block. Now this Rejection shows very much of Bullish intentions but this is a huge wick. The concept of wick fill applies here and probably the price may retrace back down, maybe mitigate 50% of the wick and then continue up.

Moving down to the Weekly Time Frame, it can be observed that the bearish momentum is still in control regardless of the bullish entry. Moreover, the price is still breaking structures to the downside making lower lows and lower highs showing the order flow is bearish. The previous week closed as bearish which shows bears at the end of the week were still dominant over bulls.

Moving lower to the Daily Time Frame. It can be seen that price is most likely printing an inverted Head & Shoulder pattern which for the majority is a reversal pattern i.e. bullish move in this case, But as institutions tend to do the opposite of the majority so there is a pretty chance that price may continue down with the same momentum. Furthermore, the price recently is being traded with a Daily Order Block which may very possibly give more induction of sellers in the market.

Moving down to the 4 Hour Time Frame, it can be observed that price as soon as it was reaching the Order Block was continuously losing its momentum. As soon it tapped within the order Block, a very nice push from bears was observed which is favorable for short setups.

Moving to the Last Time Frame, a very change in structure is observed. The last Demand zone is flipped, the bearish momentum has taken its strength, and the price failed to create a higher high rather than a lower high was formed showing a shift in structure.

Now briefly about BTC as BTC influences, ALT’s a lot, BTC is showing bearish intentions as well which makes this bearish setup more strong.