The ongoing correction rally in KCS price threatens a fallout from the $17.2 support level. Are sellers ready for another leg down? Key technical points: The KCS price tease $7.2 breakdown The coin chart reflects a potential crossover between the 20-and-200 EMA The 24-hour trading volume in the KuCoin token is $5.1 Million, indicating a 40% loss. Past Performance of KCS KuCoin (KCS)’s price has shaped up into an ascending triangle pattern over the past three months. The coin price wobbled between the absolute resistance(neckline) at $21.6-$21.1, and the ascending trendline gradually narrowed down to breakout points. However, amid the recent sell-off in the crypto market, the altcoin gave a decisive fallout from the triangle pattern. Source-Tradingview KCS Technical Analysis The ascending triangle breakdown accelerates the KCS correction and plunges it to the $17 mark. The coin price has recently breached this $17.2 support and registered a post-retest fall of 13%. A flattish 50 and 200-day EMA highlights a range-bound rally in KCS. However, a bearish crossover among the 50 and 100-day EMA will encourage the $17.2 breakdown. Despite a lower high formation in the RSI indicator slope shows a bullish divergence indicating weakness in the bearish momentum. Hence, the indicator reflects the possibility of a bullish followthrough. The MACD indicator shows the fast and slow lines are gradually lower in the bearish territory with a sig...
