KCS/USD - KuCoin Token Breakout! $22 Next!
After finding support on the $15 level, KuCoin Token (KCS) rallied and used the bullish momentum to break above $18. This puts KCS on a clear path towards $22.
Key support: $18
Key resistance: $22
With this latest breakout, KCS has made the $18 level support and is likely to continue higher until the key resistance at $22.
This latest breakout has put a stop to the downtrend and if KCS is successful in moving above $22, then the correction that started in December 2021 would be put to an end.
Nevertheless, breaking above $22 seems a difficult talks for KCS. Best to be patient and also monitor the overall market.
Technical Indicators:
Volume: Volume spiked last Friday during the breakout above $18 and buyers are still in total control of the price action. As KCS approaches the key resistance at $22, selling and profit taking may intensify which may lead KCS into a pullback.
RSI: The daily RSI made a higher high and is above 50 points. There is plenty of space left until the RSI reaches the overbought zone.
MACD: The daily MACD remains bullish and the histogram continues to move higher with momentum on the buyers side. If this is sustained, KCS can easily reach $22 in the nearby future.
Bias
The bias for KCS is bullish.
Short-Term Price Prediction for KCS
As long as bulls can maintain the current momentum, KCS is well positioned test the key resistance at $22. However, good to be cautious as price moves higher since bears may attempt to push back on this latest rally.
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Key support: $18
Key resistance: $22
With this latest breakout, KCS has made the $18 level support and is likely to continue higher until the key resistance at $22.
This latest breakout has put a stop to the downtrend and if KCS is successful in moving above $22, then the correction that started in December 2021 would be put to an end.
Nevertheless, breaking above $22 seems a difficult talks for KCS. Best to be patient and also monitor the overall market.
Technical Indicators:
Volume: Volume spiked last Friday during the breakout above $18 and buyers are still in total control of the price action. As KCS approaches the key resistance at $22, selling and profit taking may intensify which may lead KCS into a pullback.
RSI: The daily RSI made a higher high and is above 50 points. There is plenty of space left until the RSI reaches the overbought zone.
MACD: The daily MACD remains bullish and the histogram continues to move higher with momentum on the buyers side. If this is sustained, KCS can easily reach $22 in the nearby future.
Bias
The bias for KCS is bullish.
Short-Term Price Prediction for KCS
As long as bulls can maintain the current momentum, KCS is well positioned test the key resistance at $22. However, good to be cautious as price moves higher since bears may attempt to push back on this latest rally.
Like and follow if you liked my idea!
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