KuCoin token tried to move above the key resistance at $21, but failed twice so far as indicated by the yellow arrow.

Nevertheless, despite the rejections by the bears, KCS quickly found support at $19 and may attempt another break of the key resistance in the future.

The indicators are still very much bullish on the daily timeframe . However, the MACD histogram is making lower lows and if KCS fails to break above $21 again, then the price may fall below $19.

Volume continues to remain constant and that is a positive considering this most recent drop in the overall market. Bitcoin and ETH are at a critical level which will be decisive for where the overall market is headed next.

KCS will likely follow the market leaders, therefore make sure to check my BTC /ETH ideas as well.

Looking ahead, KCS is likely to consolidate in this range between $21-$19 until the market makes a decision where it wants to go. Bias is neutral on KCS. This will change when one of the key levels break.

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