KCS Price Jumps 90% In 8 Weeks To Tease $10 Break, Eyes $15!
With Centralized exchanges back in the game, the CEX tokens resurface with a phoenix-like rebirth. KCS price trend shows a similar revival amidst the market recovery as Bitcoin crosses the $41K mark.Â
Ending the streak of lower high formation in the weekly chart, the Kucoin token is ready to gain bullish momentum and surface above $10. Moreover, with the ongoing recovery rally showing zero displays of weakness in the weekly trend, the token price may shortly give another breakout entry opportunity.Â
Crossing the 200W EMA, the KCS price maintains the uptrend and gives a resistance trendline breakout in the weekly chart. Further, the breakout rally approaches the overhead supply zone at $10, teasing a breakout possibility.Â
However, if Kucoin fails to exceed $10, the price trend might retest the broken trendline, leading to a new bullish pattern. Considering a post-retest reversal occurs, Kucoin might display an inverted head and shoulder pattern in the weekly chart.Â
Technical indicators:
âȘïžEMA: Despite the recent death cross in the weekly chart, the bullish reversal leads to a turnaround in the 50W EMA. This increases the possibility of the 200 and 50-week EMAs regaining the positive alignment.Â
âȘïžRSI indicator: The daily RSI line approaches the overbought zone and supports the continuation of the bullish trend.Â
Will KCS Price Reach $15?
Despite a minimal YTD growth of 32%, the KCS price trend shows huge bull run potential in the weekly chart and is ready for a new break. With a high possibility of the $10 breakout, the sellers will struggle to halt the unleashed momentum at $12.71, which increases the possibility of a run to $15. However, the altcoin may not be able to reach $15 before the end of 2023, making it a target for January 2023.Â
On the flipside, a reversal from $10 can retest the broken trendline close to $7.20.
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