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

Cryptos | 07/08/2020 17:00:59 GMT

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.

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