KCS/USD - Breakout attempt in progress! Can it make it? 🚨
KCS has rallied HARD. But the resistance at $21 continues to put up a good fight. For a second there KCS appeared to have broken the resistance and run, but bears quickly came over to push price below it.
The volume on this last attempt looks solid and shows bulls are really eager. The new whitepaper from KCS as well as KCS turning into a major ecosystem are all bullish signals!
The indicators support this bias and as you can see on this chart, the MACD is bullish and barely just crossed to the positive. This means there is a lot of room left to go HIGEHR.
But before we can celebrate, that resistance at $21 has to fall, without that happening, it is too early to call it.
Should the market turn bearish around here, than KCS has great support around $17 which is quite some distance away.
My bias remains bullish on KCS right now and another attempt to break the key resistance seems inevitable.
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The volume on this last attempt looks solid and shows bulls are really eager. The new whitepaper from KCS as well as KCS turning into a major ecosystem are all bullish signals!
The indicators support this bias and as you can see on this chart, the MACD is bullish and barely just crossed to the positive. This means there is a lot of room left to go HIGEHR.
But before we can celebrate, that resistance at $21 has to fall, without that happening, it is too early to call it.
Should the market turn bearish around here, than KCS has great support around $17 which is quite some distance away.
My bias remains bullish on KCS right now and another attempt to break the key resistance seems inevitable.
Like and follow if you liked this idea!
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