KCS, the native token of cryptocurrency exchange KuCoin, is holding strong amidst a market-wide downturn. The altcoin has defied the broader market downturn with a 1% price increase in the past 24 hours.
This modest uptick may signal the beginning of a larger bullish trend, as technical indicators show strengthening upward momentum. This analysis holds the details.
Buying Pressure Intensifies for KCS
Readings from KCS’ daily chart suggest that bullish pressure is building. Notably, its Relative Strength Index (RSI) is currently at 58.32 and is on an upward trend, confirming the strengthening demand for the altcoin.
The RSI indicator measures an asset’s overbought and oversold market conditions. It ranges between 0 and 100, with values above 70 suggesting that the asset is overbought and due for a price decline. Converesly, values under 30 indicate that the asset is oversold and may witness a rebound.
At 58.32 and climbing, KCS RSI signals that bullish momentum is gaining traction and buying pressure is intensifying.
Moreover, the token’s Moving Average Convergence Divergence (MACD) confirms this positive trend. As of this writing, KCS’ MACD line (blue) rests above its signal line (orange).
An asset’s MACD indicator identifies trends and momentum in its price movement. It helps traders spot potential buy or sell signals through crossovers between the MACD and signal lines.
As in KCS’ case, when the MACD line is above the signal line, it indicates bullish momentum in the market. Also, traders often view this setup as a buy signal; hence, they might be prompted to buy more KCS tokens, further driving up its short-term value.
KCS Tests Critical Level as Bulls Aim for 58-Day High
KCS currently trades at $10.71, resting just below the resistance formed at $10.90. If the demand for the altcoin grows and it successfully flips this price barrier into a support floor, it could propel KCS to $11.77, a high last reached on March 3.
However, if KCS holders resume profit-taking, it could lose its recent gains and fall to $10.027.
Bitcoin (BTC) enters the second week of May trading in a fragile but critical zone, with conflicting technical signals and growing macro uncertainty shaping short-term expectations. While the ADX from the Directional Movement Index is rising, bearish pressure still dominates, and momentum remains weak across multiple indicators.
Although the price continues to hold above the $92,900 support level, weakening EMAs and the looming FOMC meeting leave Bitcoin’s $100,000 recovery path uncertain, but not out of reach.
BTC Trend Strength Rises, but Bears Still in Control
Bitcoin’s Directional Movement Index (DMI) is showing a notable shift.
The ADX, which measures the strength of a trend regardless of direction, has climbed sharply to 25.93, up from 15.97 just two days ago—crossing the key 25 threshold that signals a trend is starting to gain traction.
This rising ADX suggests that volatility is returning and a new directional move may be forming, even if the direction itself is still unclear.
Looking at the components of the DMI, +DI (bullish strength) has bounced to 12.2, up slightly from yesterday’s low of 8.67 but still down significantly from 21.31 three days ago.
Meanwhile, -DI (bearish strength) is at 19.17, slightly off its peak of 25.44 but still higher than three days ago. This indicates that although the recent bearish momentum has cooled somewhat, sellers still have the upper hand.
With ADX rising and -DI leading, Bitcoin could remain under pressure unless +DI recovers sharply in the coming days.
Bitcoin Trapped Below the Cloud as Momentum Stalls
The current Ichimoku Cloud chart for Bitcoin reflects a market in consolidation, with a slight bearish undertone. Price action is sitting very close to the blue Kijun-sen (baseline), which typically represents medium-term trend momentum.
Trading beneath this line suggests that BTC lacks the strength to reclaim bullish momentum in the short term. The white candlesticks hovering near the cloud’s lower boundary indicate indecision among traders, with no clear breakout in sight.
The green Kumo (cloud) itself is relatively thin at this stage, hinting at a fragile support zone that could easily be broken if bearish pressure returns.
Looking ahead, the red Senkou Span B—the top of the projected cloud—is acting as dynamic resistance, capping any upward attempts. For a stronger bullish signal, BTC would need to close decisively above both the Kijun-sen and the entire cloud.
Complicating matters further, the Tenkan-sen (conversion line) is flat and overlapping with the Kijun-sen, signaling weak momentum and a lack of direction. Flat Tenkan and Kijun lines often precede sideways movement or delayed trend development.
Until Bitcoin breaks convincingly above the cloud with rising volume, the current setup leans neutral to bearish, with price trapped in a zone of low conviction and limited momentum.
Bitcoin Holds Key Support as $100,000 Reclaim Hangs in the Balance
Bitcoin price has remained resilient above the $90,000 level since April 22, repeatedly holding support near $92,945 despite broader market uncertainty. The exponential moving averages (EMAs) still reflect a bullish structure, with short-term averages positioned above long-term ones.
However, there are early signs of weakening momentum, as the short-term EMAs have begun to slope downward—an indication that buyers may be losing strength soon.
If BTC fails to hold its key support, a drop toward $88,839 could follow, breaking the structure that has held for over two weeks.
Still, some analysts remain confident. Nick Purin, founder of The Coin Bureau, believes Bitcoin is well-positioned to reclaim the $100,000 mark, even as markets brace for volatility surrounding the upcoming FOMC meeting:
“It will be a volatile week. Firstly, we have the FOMC meeting tomorrow. While it’s pretty clear there will be no rate cuts, it’s what Chair Powell says that could move the markets. On top of that, trading volume is low and the long/short ratio is sitting at 50/50, which means that, yet again, BTC can swing in either direction from here. The good news is that there’s a great deal of buying interest around the $90,000-$93,000 range, so a dip to those levels is nothing to be concerned about – it will likely bounce back. And overall, the BTC/USD chart is looking strong as it continues to print higher lows.” – Purin told BeInCrypto.
Nick states how Fed next decisions could influence the market in the next months:
“If the Fed surprises with some dovish tones as well as guidance for rate cuts in June, there’s room for Bitcoin to rally all the way back up to that $100,000 level, which remains a liquidity magnet. But even if Powell strikes a hawkish tone, the impact on BTC will likely be minimal. There’s simply too much positive momentum – spot BTC ETFs are hoovering up assets, corporates are building up BTC treasuries and the correlation between Bitcoin and stocks is breaking down. On top of this, historic data shows that BTC has posted gains during nine out of the last 12 Mays. So, despite the likelihood of heightened volatility, the near future is looking promising. As such, following the old adage of ‘sell in May’ would be madness at this point.” – Purin told BeInCrypto.
A recovery in momentum could first drive BTC to retest resistance at $95,657, with a breakout potentially leading to $98,002 and eventually a challenge of the psychological $100,000 level.
With macro headwinds and technical crossroads converging this week, the next move will likely hinge on how BTC responds to its support zone and how broader market sentiment reacts to Fed commentary.
Tether minted $1 billion in USDT on the Tron network today, bringing its total minted tokens since January to 12 billion. This reflects growing demand for crypto and could signal bullishness.
Previously, major stablecoin issuances have led to a bullish cycle. With fresh inflows, the market sentiment is trending towards Greed, and Tether may facilitate more bullishness.
This new USDT minting could have broad market implications for a few reasons. Major net issuances often reflect growing demand from institutions and OTC desks that need large blocks of stablecoins for cross-border settlements or build-up before buying digital assets.
In isolation, this single issuance could push the needle in a bullish direction. However, since Lookonchain data shows a pattern of major mintings, Tether could spur a lot of optimism.
Despite recently hitting a three-year low, the Crypto Fear and Greed Index has been trending upward. It’s currently in Neutral but briefly exhibited Greed yesterday.
In other words, the market is primed to accept a bullish signal, and Tether’s major minting may provide it.
Still, not every mint equates to immediate market deployment. True bullish pressure arrives only when those new USDT hit exchange wallets. Luckily, that seems like a very achievable goal.
Binance recently conducted a survey of its Asia-based users on the topic of security, and the results were encouraging. Over 80% of these users employ 2FA, and 73% double-check their transfers.
The poll concluded that user education is the most effective way to take advantage of growing security enthusiasm. Exchange-led scam simulations may be a potential solution to make anti-fraud knowledge accessible.
Binance was very clear that increasing 2FA (two-factor authentication) usage is unambiguously good. Still, there are a few key holes in the community’s preferences.
Most of the other important user-end security practices have very low rates of adoption, which Binance blames on insufficient awareness. It described a few measures to foster security education:
“As the industry evolves, so do the tactics of bad actors. We’re investing heavily in localized anti-scam education that is practical, accessible, and tailored to users’ real needs. We’re also working closely with regulators and law enforcement… to better protect user assets,” claimed Jimmy Su, Binance’s Chief Security Officer.
This education question touches on several different topics. For one thing, most of Binance’s Asian users claimed that existing security guides are “too technical and difficult to understand.”
However, they’re ready to learn. Over 60% said they would participate in anti-scam simulations, especially if this was gamified or paired with rewards.
The survey also noted a key data point in an age-old debate: whether or not to self-custody assets. Binance reported that its users have a growing expectation that exchanges actively manage security.
Meanwhile, 62.5% believe that CEXs are responsible for intercepting high-risk transactions in real time, and more than half would “immediately” contact an exchange over scam attempts.
Still, as with the firm’s previous surveys, it’s important to remember the participants’ demographics. Binance only questioned Asian users on their security preferences, and it identified regional variations even within this sample. For example, depending on the respondent’s location, they may give four different answers to the question, “What platform spreads the most scams?”
In other words, Binance or other firms may need to conduct follow-up polls over a wider net to corroborate this security data. In this isolated form, though, the Asian user data is still very useful.
Hopefully, it can help craft beneficial anti-fraud policy and educational resources for a global audience.
