KCS Technical Analysis: Wedge Breakout Changes The Bearish Fate

KCS prices give a surprising bullish breakout of the rising wedge pattern displaying an overwhelming demand ready to reach $20. Key technical points: KCS price breaks above the $15 mark and the rising wedge pattern. The Stochastic RSI shows a bearish crossover. The 24-hour trading volume of Kucoin is $12 Million, indicating a rise of 43%. Past Performance of KCS The KCS/USD technical chart shows an overwhelming rise in demand resulting in the rising wedge pattern breakout after surpassing the $15 mark. The bullish rally started after the $13.5 zone breakout accounts for a 25% rise in the last seven days. Moreover, after the bullish breakout, the lower price rejection candles reflect a rise in the underlying bullishness. Source-Tradingview KCS Technical Analysis The uncontrollable growth in the inflation rate brings the KCS market value six cents above $17 and projects a high probability of uptrend continuation. Furthermore, the uptrend surpasses all the crucial EMAs in the 4-hours chart and influences the bullish crossover of the 50 and 100 EMAs. This points to the golden crossover possibility, which hints at a prolonged uptrend. As the uptrend enters the overbought territory, the RSI values start to hint at a beamish reversal as the divergence increases reflecting weakness in the underlying business. The Stochastic indicator shows the K and D lines project a bearish crossover event in the overbought territory. Thus, the indic...