The KuCoin token was on a spectacular upward journey

The KuCoin token was on a spectacular upward journey earlier, as its price rose massively from $4.0 to $16.0. However, the price faced a short-term decline and sought support at the $11.0 price mark.

The current price is at $12.16 with an intraday increase of 7.39%, the price structure is facing resistance from dynamic resistance of 20-day and 50-day EMA. Moreover, the RSI has taken rejection from the smoothened line, which is at 43.21, and MACD is showing a bold bearish cross, with histogram growing downwards.

Therefore, if the price fails to decline and breaks the support of $10.0, it could fall sharply. However, if the price rises, then the target could be $16.0, and 18.0.

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