KCSUSDT above its 1D MA50 again. Potential rally ahead.

The KuCoin Token broke and closed above its 1D MA50 (blue trend-line) this week for the first time since December 23. Technically the period from December 09 2021 until February 07 2022, was the new Accumulation Phase, which since May, it has been a regular formation (May 13 - July 04 and September 10 - October 13). Basically those consolidation phases have been taking place roughly within the 1D MA50 and the 1D MA200 (orange trend-line) inside the broader pattern of a Channel Up.

Once KCSUSDT closed the first 1D candle above the 1D MA50, the price rallied to the top (Higher Highs trend-line) of the Channel Up, either very aggressively or on a more sustainable fashion. Since on February 07 the price closed a 1D candle above the 1D MA50, we can expect a new rally to start. Taken by the fact thought that it is already 5 days above the 1D MA50 and is consolidating, as well as the fact that this time the Accumulation Phase has been the longest, I estimate that the new Rally Phase won't be a fast one but rather slow and structured. A rough projection puts the new Higher High within $40.00 - $48.00 just below the 2.0 Fibonacci extension of the long-term Fibonacci Channel.


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