KCS Technical Analysis: EMAs Influence Bearishness on Trapped Momentum 

Table of contents

  1. Past Performance of KCS
  2. KCS Technical Analysis 
  3. Upcoming Trend 

The KCS coin price trend sideways as the consolidation grows between the daily EMAs. Should you consider buying in this consolidation?

Key technical points:

KCS prices rest at the $18 support level.The 50 and 100-day EMA are diverging to give a bearish crossover.The 24-hour trading volume of KuCoin is $5.89 Million, marking a 26% rise. 

Past Performance of KCS

Under the solid bearish imprinting of the 50 and 100-day EMA, the KCS coin price consolidates above the $18 support level. The consolidation has initiated after the 15% from the $21 mark, which found demand at the 200-day EMA. Hence, the consolidation range can be considered between the 200 and 50-day EMA. 

TradingView Chart

Source-Tradingview

KCS Technical Analysis 

KCS coin price shows higher price rejection from the EMAs, resulting in an increased breakdown possibility. However, the $17 level buyers form a double bottom pattern projecting the likelihood of a price jump.

The 200-day EMA provides constant support to sustain the consolidation range contrary to the 50 and 100-day EMA giving a bearish crossover while providing resistance. Hence, a breakout of either EMA will generate a trading opportunity. 

RSI Indicator: The RSI slope shows a sudden jump in underlying bullishness evident by the 14-day SMA breakout. The string reaches the halfway mark and increases the trend reversal possibility.

MACD Indicator: The MACD and signal lines show a trend reversal that may spawn a bullish crossover shortly.

In a nutshell, the KCS technical analysis has a neutral outlook and projects the possibility of further consolidation.

Upcoming Trend 

With the consolidation growing between EMAs, the trapped momentum increases the chances of a sharp volatile move in KCS coin price. Considering the prices overcome the 50-day EMA, the price jump could reach the $21 mark.

Conversely, a breakdown will push the prices below the 200-day EMA and revert the prices to $16.

Resistance Levels: $20 and $21

Support Levels: $18 and $16

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