KCS found good support on the $20 level and is now consolidating in a flat trend. This is a positive sign as it puts a stop to the downtrend and may prepare the stage for an eventual rally in price.
Key support: $20, $16
Key resistance: $23, $28 (ATH)
The market turned back up on Tuesday when both ETH and BTC broke above key resistance levels. KCS also bounced, but this was not so significant and price entered into a range stuck between the key resistance at $23 and support at $20. KCS also appears to have formed a small ascending triangle. Breaking this will likely bring more momentum.
Technical Indicators:
Volume: Volume continued to decrease this week and likely we can expect some new volatility as soon as price leaves the ascending triangle.
RSI: The daily RSI made a higher high, but the current price action lacks conviction. Therefore, to have more confidence in the price action, volume has to increase.
MACD: Good news on the daily MACD as it did a bullish crossover! This is significant and may signal that KCS is preparing to rally soon. Breaking above the ascending triangle will be a good sign that this can take place.
Bias
The bias for KCS is neutral right now. A break above $23 would put KCS back on the bullish side.
Short-Term Price Prediction for KCS
The current price action as well as the MACD seem to suggest that KCS is preparing for a possible breakout from this ascending triangle and an eventual test of the $23 resistance level. If successful, KCS can resume its rally.
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Key support: $20, $16
Key resistance: $23, $28 (ATH)
The market turned back up on Tuesday when both ETH and BTC broke above key resistance levels. KCS also bounced, but this was not so significant and price entered into a range stuck between the key resistance at $23 and support at $20. KCS also appears to have formed a small ascending triangle. Breaking this will likely bring more momentum.
Technical Indicators:
Volume: Volume continued to decrease this week and likely we can expect some new volatility as soon as price leaves the ascending triangle.
RSI: The daily RSI made a higher high, but the current price action lacks conviction. Therefore, to have more confidence in the price action, volume has to increase.
MACD: Good news on the daily MACD as it did a bullish crossover! This is significant and may signal that KCS is preparing to rally soon. Breaking above the ascending triangle will be a good sign that this can take place.
Bias
The bias for KCS is neutral right now. A break above $23 would put KCS back on the bullish side.
Short-Term Price Prediction for KCS
The current price action as well as the MACD seem to suggest that KCS is preparing for a possible breakout from this ascending triangle and an eventual test of the $23 resistance level. If successful, KCS can resume its rally.
Like and follow if you liked my idea!
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๋ฉด์ฑ ์ฌํญ
ํด๋น ์ ๋ณด์ ๊ฒ์๋ฌผ์ ๊ธ์ต, ํฌ์, ํธ๋ ์ด๋ฉ ๋๋ ๊ธฐํ ์ ํ์ ์กฐ์ธ์ด๋ ๊ถ์ฅ ์ฌํญ์ผ๋ก ๊ฐ์ฃผ๋์ง ์์ผ๋ฉฐ, ํธ๋ ์ด๋ฉ๋ทฐ์์ ์ ๊ณตํ๊ฑฐ๋ ๋ณด์ฆํ๋ ๊ฒ์ด ์๋๋๋ค. ์์ธํ ๋ด์ฉ์ ์ด์ฉ ์ฝ๊ด์ ์ฐธ์กฐํ์ธ์.
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๐น Real trades & wins explained
๐น Trading ideas, crypto trends & alpha
Likes and follows appreciated! ๐
๊ด๋ จ ๋ฐํ๋ฌผ
๋ฉด์ฑ ์ฌํญ
ํด๋น ์ ๋ณด์ ๊ฒ์๋ฌผ์ ๊ธ์ต, ํฌ์, ํธ๋ ์ด๋ฉ ๋๋ ๊ธฐํ ์ ํ์ ์กฐ์ธ์ด๋ ๊ถ์ฅ ์ฌํญ์ผ๋ก ๊ฐ์ฃผ๋์ง ์์ผ๋ฉฐ, ํธ๋ ์ด๋ฉ๋ทฐ์์ ์ ๊ณตํ๊ฑฐ๋ ๋ณด์ฆํ๋ ๊ฒ์ด ์๋๋๋ค. ์์ธํ ๋ด์ฉ์ ์ด์ฉ ์ฝ๊ด์ ์ฐธ์กฐํ์ธ์.