KCS price shows a post-retest reversal rally from the $15 mark resulting in the breakout of $17. Will the reversal rally reach $20? Key technical points: The KCS market value increased by 3.54% in the last 24 hours. Price action shows a triple white soldiers pattern. The 24-hour trading volume of Kucoin is $7.54 Million, indicating a drop of 3.79%. Past Performance of KCS KCS prices showcased a sharp V-shaped reversal from the $9.45 mark resulting in the $15 and the 50 DMA breakout within a week. The bullish rally regains momentum after retesting the DMA breakout and friends another higher low at $15 to reach the resistance level at $17. Source- Tradingview KCS Technical Analysis The ongoing bullish rally shows a daily candle with significantly lower price rejection near the $17 resistance signaling a bullish resurgence. Thus, the price action shows a high probability of an uptrend continuation to reach the next psychological level of $20. The Daily Moving Averages – 20, 100, and 200-days maintain a bearish alignment, but a bullish reversal can be seen as the prices surpass the 50 DMA to reach the 200 DMA. The RSI indicator shows that the slope rises above the 14-day average and the halfway mark entering the nearly overbought zone. Additionally, the MACD indicator displays a rising trend in the histograms after the short resting phase fueling the uptrend in the MACD and signal lines approaching the zero line. In a nutshell, th...
