KCS Technical Analysis: A New Growth Wave Is Not Far Off

Assuming that there are also superheroes among cryptocurrencies, KCS would have a great chance to get on such a list. The fall of the entire cryptocurrency market since November has hit investors’ portfolios hard. Most cryptocurrencies fell by 70-80%. However, analyzing the correction of the KCS price on the daily timeframe, we can say that as such there was no correction. In early November, the KCS price stormed a historical high for the third time. This happened for the first time in January 2018. Then, after a long depression in the KCS market, a new attempt to update the historical high took place in April 2021. As a result, sellers seized the initiative and corrected the price by 76%. https://www.tradingview.com/x/KJQPfkBJ/ The current attempt to take control of the historical range of $17.5-$19.5 has a high chance of success. First, buyers were still able to update the historical high. This happened without the use of high trading volumes, which threatened the formation of a false breakdown. However, 4 months have passed since the update, and sellers still did not dare to counterattack. All attempts by sellers to take control of the market are accompanied by minimal volumes. This fact shows that there are few large players in the market who are ready to sell KCS at current prices. Loss of control over the range of $17.5-$19.5 and fixing the price below it will signal the readiness to continue the sluggish fall wave with ...