Description
⋅ Sensational Bullish Revival: KCS (KuCoin Token) displays a remarkable bullish revival with eight consecutive weekly bullish candles.
92% Growth in 56 Days: KCS has experienced a significant 92% growth in the last eight weeks.
Challenging Bearish Dominance at $10: The price is heading to challenge the bearish dominance around the $10 mark.
Potential Breakout to $12.71: Surpassing $10 could lead to a breakout rally reaching $12.71.
Phoenix-Like Rebirth Amid Market Recovery: KCS shows a strong recovery as centralized exchanges gain market traction.
Resistance Trendline Breakout: A breakout from the resistance trendline in the weekly chart is observed, approaching the $10 supply zone.
Inverted Head and Shoulder Pattern Possibility: There's potential for an inverted head and shoulder pattern if KuCoin fails to exceed $10.
Technical Indicators - EMA and RSI: The turnaround in the 50-week EMA and the RSI approaching the overbought zone support the bullish trend.
Target of $15 in Early 2024: While a run to $15 may not be achievable by the end of 2023, it becomes a target for early 2024.
Current Trading Dynamics: The ongoing recovery rally suggests strong momentum to break past the $10 barrier.
Risk of Retest at $7.20: A reversal from $10 could lead to a retest of the broken trendline near $7.20.