KCS/USD - KCS Fails to Move Above $21. Another attempt inbound!
KuCoin token tried to move above the key resistance at $21, but failed twice so far as indicated by the yellow arrow.
Nevertheless, despite the rejections by the bears, KCS quickly found support at $19 and may attempt another break of the key resistance in the future.
The indicators are still very much bullish on the daily timeframe. However, the MACD histogram is making lower lows and if KCS fails to break above $21 again, then the price may fall below $19.
Volume continues to remain constant and that is a positive considering this most recent drop in the overall market. Bitcoin and ETH are at a critical level which will be decisive for where the overall market is headed next.
KCS will likely follow the market leaders, therefore make sure to check my BTC/ETH ideas as well.
Looking ahead, KCS is likely to consolidate in this range between $21-$19 until the market makes a decision where it wants to go. Bias is neutral on KCS. This will change when one of the key levels break.
Like and follow if you liked my idea!
Nevertheless, despite the rejections by the bears, KCS quickly found support at $19 and may attempt another break of the key resistance in the future.
The indicators are still very much bullish on the daily timeframe. However, the MACD histogram is making lower lows and if KCS fails to break above $21 again, then the price may fall below $19.
Volume continues to remain constant and that is a positive considering this most recent drop in the overall market. Bitcoin and ETH are at a critical level which will be decisive for where the overall market is headed next.
KCS will likely follow the market leaders, therefore make sure to check my BTC/ETH ideas as well.
Looking ahead, KCS is likely to consolidate in this range between $21-$19 until the market makes a decision where it wants to go. Bias is neutral on KCS. This will change when one of the key levels break.
Like and follow if you liked my idea!
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