KCS Technical Analysis: Bears Get Monday Motivation To Retest $13

KCS prices inflate significantly over the weekends but face a bearish coup in the new week. So should you remain bullish as the price sustains above $13? Key technical points: KCS prices grew 35% to form a triple white soldier pattern. The recent drop in Market value retests the $13 mark. The 24-hour trading volume of Kucoin is $9.71 Million, indicating a 30% drop. Past Performance of KCS As mentioned in our previous analysis, KCS prices break under the crucial support level of $17.2, resulting in a downfall below the psychological mark of $15. During the last week, the increased selling pressure took support at the $10 mark, resulting in a lower price rejection and forming a morning star pattern. Furthermore, the reversal pattern drove the Kucoin market value 35% higher during the weekend. Source-Tradingview KCS Technical Analysis The morning star-driven rally in the KCS prices comes to a halt as the sellers above $14 overtake trend control. This plunges the Kucoin price by 5% today to retest the $13 level and forms a piercing candle. The bearish last week brought significant change in the crucial EMAs (50, 100, 200-days) direction resulting in a death cross. Moreover, the falling trend continues despite the weekend recovery, warning of a bearish crossover between 100 and 200-day EMAs to regain complete bearish alignment. The sharp reversal in RSI values from the oversold territory surpasses the 14-day average scores and appr...