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This 2022 KuCoin Token (KCS) Technical Analysis is based on the study of technical indicators. Below, we have outlined the key factors that contributed to our KuCoin Token (KCS) price analysis.
The crypto world is perhaps the most dynamic of spaces, welcoming new innovations and entries every day. The crypto exchange arena is one such domain where new contenders are often popping up, leaving the general public with plenty of options.
And for someone looking to trade cryptocurrencies in addition to Bitcoin, they will need to have an account with a top altcoin exchange. When choosing an exchange, users generally look for platforms offering low fees and a safe place to trade. And on top of the preferred altcoin exchanges list is KuCoin.
Now that you already have knowledge about KuCoin Token (KCS), let us dig deeper into the details to understand more about KuCoin and its blockchain technology.
What is KuCoin?
KuCoin is a global crypto exchange based in the island nation of Seychelles. In the few years since its launch in 2018, KuCoin was able to establish itself as the top altcoin exchange, with over 600 assets and 1,100 trading pairs. Impressively, CoinMarketCap and CoinGecko have placed KuCoin in the list of the Top 5 Crypto Exchanges. Not just this, Forbes Advisor even named KuCoin as one of the Best Crypto Exchanges in 2021.
KuCoin is rightly called the “People’s Exchange” as it is built for all classes of investors. Moreover, it currently provides Spot trading, Margin trading, P2P fiat trading, Futures trading, Staking, and Lending to over 10 million users in 207 regions around the world.
Now, moving on to KCS, the native token of KuCoin. Here’s an interesting fact about this coin: it’s one of the few CEX tokens that holders can get daily passive income from. For a user that holds at least 6 KCS, they can get a daily KCS bonus, which comes from 50% of KuCoin’s daily revenue. And when compared with other CEX tokens, KCS is a top-runner with a 31 times price hike since the start of 2021.
Some of the other interesting use cases of KCS include getting a 20% trading fee discount on KuCoin, participating in Spotlight (IEO) and Burningdrop (a new launchpool product), and booking a trip on Travala.
Notably, KCS broke the all-time high on 1 December reaching $28.77 being an aggressive competitor in the market. As the native token of the KCC public chain, KCS is expected to be the fuel to empower onchain transactions, liquidity mining, and more. In addition, the TVL of KCC approaches 40 million. And the future looks bright for it with lots of interesting DApps emerging.
KCS Current Market Position
The KuCoin Token (KCS) is one of the aggressive crypto assets in the market. As per the KCS whitepaper, it will redistribute the 90 million KCS locked at the time of issuance, from which 20 million KCS will be directly burned.
In terms of market status, the crypto ranks as one of the top 100 cryptos in CoinGecko. Its market cap amounts to over $1.5 billion with a 24-hour trading volume of more than $17 million.
For all interested traders and investors of the token, the crypto is available for buying, selling and trading on exchanges such as KuCoin and Uniswap (v3) to name a few.
KCS Technical Analysis
KCS plays a very big role in the KuCoin network. It never stops developing its blockchain to provide seamless transactions to all its users in the space. In fact, KCS aims to connect the world of both centralization and decentralization and build a Web 3.0 ecosystem. The KCS Management Foundation was established to empower the KCC ecosystem.
Do you think KCS will be able to maintain its uptrend position in the future? Let us now proceed with the charts in this KCS Technical Analysis article.
As seen in the graph above, KuCoin Token (KCS) keeps its position within the Arnaud Legoux moving average (ALMA) indicator, a bullish signal. In detail, based on the rules of the ALMA indicator, the crypto that stays above or within it, may have a big chance to go bullish in the following days. However, if KCS fails to maintain its position within or above, it will be a different story.
Currently, KCS trades at a bullish price above $20 per crypto above the ALMA indicator. If this trend goes on, KCS might be able to smash the resistance level of $28.8 which is just +35.67% away from the present price of $21.2. If it does, the doors towards the bullish price of $30 will open, an opportunity that KCS would gladly take advantage of.
Meanwhile, the moving average convergence divergence (MACD) of KCS continues to give a bullish impression. In other words, the MACD of KCS remains above the signal indicator after its golden cross in the past few days, an uptrend position. Furthermore, KCS MACD shows no sign of performing a bearish crossover. As a result, investors and traders within the KCS network can continue trading KCS without the fear of any major price reversal.
On the other hand, we all witnessed how KCS successfully dominated 2021 with its price rate surge of almost +3000%. This price enables the crypto to record its all time high price of $28.83. Indeed, this event made the KCS community and its investors go crazy and jump for joy.
If KCS is able to do this skyrocketing market surge once again this year, the price of KCS may be able to achieve outstanding results. Specifically, the price of KCS may reach the bullish price of $581.31 as seen in the chart above. But of course, this price forecast of KCS still depends on the behavior of the crypto market and with the current events and regulations around the world.
KuCoin Token (KCS) is one of the decentralized tokens in the crypto universe that shows a great future in 2022. Furthermore, KCS also provides countless benefits to all its holders and investors. Therefore , the bullish 2022 price forecast for KuCoin Token based on the analysis made by CoinQuora is $30 and beyond.
What’s more, the token can even reach the skyrocketing price of $581 in 2023 if the market continues to favor crypto.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.