What To Expect From KCS Crypto Price Next?

KuCoin’s native token, KCS, was introduced in 2017 as a profit-sharing mechanism that allows traders to earn passive income. 

KCS Bonus is considered one of the best ways to generate passive income, as users who hold more than 6 KCS tokens can receive a daily dividend, which is derived from 50% of KuCoin’s daily trading fee revenue. 

The amount of rewards a user can earn depends on the number of KCS held and the trading volume of the KuCoin Exchange.

To ensure the security of user data, KuCoin utilizes a standard encryption protocol that conceals user data and transfers it within the system from other users. 

Additionally, KuCoin’s multi-cluster and multi-layer architectural technique allows the platform to handle multiple transactions simultaneously, ensuring system stability and efficiency throughout every transaction.

KCS optimized by 1.26% in market value and plummeted by 27.26% in trading volume in the last 24 hours, as per CoinMarketCap, a crypto data analysis website. Its market value is $965,317,108 and its trading volume is $1,106,467. There are 96,641,044 KCS assets in circulation.

Can KCS Crypto Price Jump Off the Cliff, Soon?

The KuCoin crypto had a remarkable recovery as the price bounced back from the $4.5 level.

The KCS asset has shown a bullish structure on the daily chart and it rose higher. It has achieved good results in the previous quarter by 116.30%, indicating a consistent upward movement.

However, the KCS crypto has shown a sign of weakness earlier and the price dropped from a critical level of around $14 on the charts.

The KuCoin crypto is ready for a gloomy fall, as it fails to break the resistance level and falls to new lows by breaking previous swing lows, and declining along the downward trend line steadily.

The KCS crypto asset is exhibiting bearish features and can lose more value. It has shown poor performance in the past week, and past month, by 1.50% and 8.34% respectively, indicating a reliable downward trend.

The KuCoin asset is bearish and has more space to drop as it falls below the 20-Day EMA.

The KCS asset is exhibiting bearish traits as MACD is at -0.0700 with a bearish crossover. Meanwhile, the RSI is at 49 and is falling smoothly, implying that the KuCoin asset is losing momentum and can reach new lows.

The KCS crypto is experiencing a slight increase of 0.35% in the last 24 hours, trading at $9.97.

Therefore, if the KCS crypto price fails to remain above the $9 level, it could drop further.

However, if the demand for the KCS crypto rises, the asset price could rebound from the current level and could break the trendline as well. The next target for the price is to reach $11.

Summary

The KCS crypto has shown a sign of weakness earlier and the price dropped from the critical level of around $14 on the charts.

The KuCoin asset is bearish and has more space to drop as it fell below the 20-Day EMA’s. Depending on the sellers’ pressure, KCS could drop more. Therefore, if the KCS crypto price fails to remain above the $9 level, it could drop further.

Technical Levels

Support Levels: $9

Resistance Levels: $11

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.