DU09

KCS/USD - KCS Fails to Move Above $21. Another attempt inbound!

KUCOIN:KCSUSDT   KuCoin Token / Tether
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!

📣 Find more Alpha by joining Your Crypto Community 🔰 LINKs BELOW 🔰

🔹 Over 5,000 members!
🔹 Real trades & wins explained
🔹 Trading ideas, crypto trends & alpha

Likes and follows appreciated! 🚀
면책사항

이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.