- The KuCoin price has slipped below the 20-day exponential moving average.
- Yesterday, the KCS crypto price dropped by 16%.
According to the technical chart, the KuCoin crypto price has been bullish and reached a multi-day high. The price has risen by 163% since November, and the bullish trend was disturbed from the $16 mark and performed negatively. The price jumped by 38% in just two weeks at the beginning of March, but this gain was eroded in the next two weeks.
For the last 10 days, the KuCoin price has performed negatively. On March 18, 2024, the KCS price dropped by 11%, but the buyers recovered the loss the next day. The price has been dumped again by 14.96% in the last two days and has slipped below the 20-day exponential moving average.
The current market price of KuCoin is $12.30, which has dropped by 3.61% in the last 24 hours. The market capitalization is $1.18 billion, and the fully diluted market cap is $2.09 billion. The 24-hour trading volume is $13.68 million, which has decreased by 330%.
Whales Holdings
The whales’ holdings have decreased from $161.31 million to $159.85 million in the last two weeks, leading the price to decline by 18%. Considering the current holdings of KuCoin, whales hold $159.85 million, investors hold $2.49 million, and retailers hold $3.30 million.
KuCoin Crypto Price vs Volume Analysis
The trading volume has increased by approximately 400% since March, affecting the KuCoin price positively. In the last 3 days, the trading volume has risen by 700%, but the price has dropped by 17% in the 2 days. According to the data, the price may show bullish momentum.
KuCoin Crypto Social Dominance vs Social Volume Analysis
The awareness about KuCoin crypto on social media has increased for the last few months, and the price has also risen. Currently, social media engagement has decreased, which has left a negative impact on the price. The KCS price can be affected by changes in social dominance.
Will KuCoin Price Extend to the $15 Mak by This Week?
The KuCoin price has been bullish on a broader time frame, but sellers have been strong for the last two weeks. The price has dropped below the 20-day EMA and is taking support on the $12.30 level.
If the KuCoin crypto price slips below the support level of $12.30 and sustains, then selling pressure can be generated and may erase the previous gains. If the price fails to defend the $10 mark, then investors may prefer to book profit, and a bearish trend for the long term can be initiated.
On the other hand, if the KuCoin price manages to defend the support level of $12 and surpasses the 20-day exponential moving average, it may reach the last swing high. Suppose the price sustains the $16 mark and triggers a breakout; it may continue the uptrend.
Turning to the technical indicators, the KuCoin price is trading below the 20-day EMA and heading toward the 200-day EMA, indicating a negative sentiment. RSI is at 42 and continuously declining toward the oversold zone, which showcases bears’ grip.
KuCoin Price Prediction on a 4-H Timeframe
In a 4-H time frame, KuCoin price has been in a bearish trend and has slipped below the significant moving average. Currently, it is taking support on the support level of $12.30.
Suppose the price starts trading below the $12 level then buyers may panic and a sharp fall can be detected. But if the KuCoin price bounces back and reaches the 200-day exponential moving average then buys may show their confidence.
Conclusion
KuCoin price has been in a bullish trend for a wider time frame but sellers seem to be active for the last 2 weeks. The bullish trend has disturbed near the $16 mark and performed negatively. According to the analysts, if the price drops below the $10 mark then it may be considered the end of the bullish trend. The buying signal can be generated over the 20-day EMA.
Technical Levels
Resistance: $14.50 & $16.00
Support: $12.30 & $10.00
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.