KCS/USD - Support held, KCS aiming for $34 next! 🚀Kucoin token (KCS) had an attempt to push higher after breaking above the ascending triangle, however the broad market correction from this past week stopped it and price fell back on the key support. KCS price is now again trying to move higher.
Key Support level: $21
Key Resistance level: $34
This week, KCS consolidated just above the support line and even if the crypto market had a sharp correction, KCS managed to hold well above the $21 support. This is a sign of strength and provided that the overall market does not correct lower, KCS has a real chance to move higher towards the next key resistance at $34.
Technical Indicators:
Trading Volume: Significant volume in the past few days, however bulls came in strong at the support level and stopped any attempt from bears to push price below $21.
RSI: The RSI is curving up and this last 2-day candle is looking strong, recovering most of the losses from the past week. As such, the RSI may soon break back above 70 points. This is a very bullish signal.
MACD: The MACD is bullish and the recent correction did not affect this momentum. If KCS can maintain this price action and continue to move higher, then it is unlikely there will be much to stop price reaching $34.
Bias:
The bias for KCS is bullish and will remain so as long as price does not fall below $21, which is the current support.
Short-Term Prediction for KCS Price:
Despite the recent market correction, KCS has remained very strong and recovered most of the losses. At the time of this post, price is sitting at $25 which is not far from the current all-time high (ATH) at $27.8. If momentum remains strong, KCS can rally and break the current ATH and move towards the next key resistance at $34.
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