- Kucoin token price is currently observing a consolidated momentum with a hint of bullish momentum. It might hit the new high of $20 soon.
- Technical indicators of KCS coin suggest an uptrend for upcoming days . In contrast, KCS/BTC pair is trading with a gain of more than 11%
Why To Invest In KCS Coin?
KCS coin price is currently in an uptrend and is trading near the value of $12.6. It has observed a gain of more than 14% in the past 24 hours. KCS is the native cryptocurrency of KuCoin, which came into existence in 2017 as a profit-sharing token which allows traders to draw value from the exchange. Kucoin was issued as an ERC-20 token which was supported by most of the Ethereum wallets. KCS supply was fixed at 200 million in which they have planned to buy 100 million coins and burn them until 100 million KCS token remain.KCS is used as an utility token ans is also used to pay for trading fees on the KuCoin Exchange, allowing users to enjoy discounts of up to 80%. KCS coin price is currently observing a halt in the bullish momentum and can soon see an uptrend.
KCS coin is ranked 70th in the CMC with a market capitalization of $2,159,820,816. The volume of the coin along with the market cap has seen an increase over the past 24 hours. Kucin volume to market cap ratio suggests an uptrend for the price.
Technical Indicators Suggests The Continuation Of Consolidation phase For The KCS Coin Price
Kucoin weekly technical chart suggests a strong uptrend in price for upcoming weeks. Meanwhile, the daily chart hints at the downside correction for the future. Resistance for KCS price on the upside can be seen near $20. The support region in the price can be found at $10 .The price of the token is currently trading above the 50 and 100 daily moving average . The 100 MA line is at $10.21, making it temporarily bounce back region for the price. KCS price uptrend can strengthen in the upcoming days. KCS/BTC pair is currently on an uptrend and can soon break the previous resistance created in the past.
Conclusion
KCS coin price has remained profitable to the investors in the past and can be the same in future. In the present market scenario ,Kucoin token price is currently in an uptrend and can continue the same .An investor should do their due diligence before investing
Technical Levels
Major Support:$10
Major Resistance:$20
