KCS/USD - KCS Facing Resistance at $20! Can it push through? 🧐

After breaking above $18, KCS rallied nicely all the way to $20 where it now faces some steep resistance. Momentum is building up and KCS may attempt a break in the future if the overall market allows it.

Key support: $18
Key resistance: $20, $22

KCS rallied over 10% after breaking above $18 to reach the key resistance at $20. Now, market forces are fighting at this key level before the winner will decide where the price is headed next.

If the bulls are successful, then the price will likely go to $22 where we find another key resistance as indicated on the chart. If the bears win, then KCS may fall back to the $18 support level.

Watch closely BTC and ETH as they will also influence where the market is headed next and KCS too.

Technical Indicators:

Volume: Volume has been steady, but declining somewhat. Nevertheless, all 3-day candles closed in the green in the past 20 days which is impressive. Perhaps a pullback is expected due to this.

RSI: The daily RSI is curving down after the price failed to move above $20. For this reason, do not exclude a pullback and a shallow correction in the future.

MACD: The daily MACD is bullish, but the histogram is quickly losing momentum with lower highs. Unlikely for KCS to move above $20 in this context.

Bias

The bias for KCS is neutral. KCS lost some of its momentum and we could see a pullback.

Short-Term Price Prediction for KCS

If KCS enters a correction, then the price may fall to $18 before a renewed push higher can be had. For now, watch closely the price action at $20 to get a hint of where the price is headed next.

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