KCS/USD - Momentum Stalling, Here's the Critical Support 😲
KuCoin token had a good rally, actually, a great one considering other coins barely bounce (hint hint at Bitcoin).
KCS almost doubled in price compared to its local bottom here, so not bad at all.
However, the momentum seems to be shifting against KCS and its price may roll over and fall lower to the key support at $14.
If the selloff will not be too aggressive I can totally see KCS hold well there before attempting to recovery again and rally.
For now, the daily MACD is curving down and may turn bearish, so it will take some time for this to play out. Volume is also terribly low.
Bias is turning bearish on this price action, but wait for Monday to get more confidence in the price action.
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KCS almost doubled in price compared to its local bottom here, so not bad at all.
However, the momentum seems to be shifting against KCS and its price may roll over and fall lower to the key support at $14.
If the selloff will not be too aggressive I can totally see KCS hold well there before attempting to recovery again and rally.
For now, the daily MACD is curving down and may turn bearish, so it will take some time for this to play out. Volume is also terribly low.
Bias is turning bearish on this price action, but wait for Monday to get more confidence in the price action.
Like and follow if you liked this analysis!
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