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      KuCoin Token (KCS) price target at $17.74, analysis - Stocks Telegraph

      By Muskan

      Published on

      July 7, 2021

      5:51 AM UTC

      KuCoin Token (KCS) price target at $17.74, analysis - Stocks Telegraph

      KuCoin Token (KCS) is one of the best performers in the weekly timeframe. The cryptocurrency gained by nearly 100% in the past seven days. KCS coin is on a sharp uptrend with the bulls dominating the market for the cryptocurrency. At the time of writing, KuCoin Token stands at a price level of $13.90 with a positive change of 32% in the past twenty-four hours. The daily trading volume has also jumped upwards by more than 100%. KCS crypto’s trajectory may take it near the all-time high price of $21, although the cryptocurrency had not been able to break the ATH level even during the bull-run – suggesting a strong resistance.

      KuCoin Token technical analysis

      The technical for KuCoin Token shows the market sentiment to be strongly bullish. Out of the twenty-six technical indicators, sixteen are standing at a buy position with neutral and sell indications at five each. The oscillators suggest a sell position but that can be accounted to the sharp upward trend while the moving averages also indicate towards the long position.

      KuCoin Token technical analysis
      KuCoin Token technical analysis

      The Bollinger Band analysis for KuCoin Token shows the Bollinger Bands to be widening – indicating increased bullish momentum in the market. The KCS crypto has also broken a Fibonacci resistance level at 1.618 or $12.89, establishing it as strong support level. The next resistance lies at the Fibonacci level of 2.618 parallel to the price level of $17.74. In the daily timeframe, the most recent candle is bearish but the support level at $12.89 appears to be acting as a stabilizing region.

      What is KuCoin Token (KCS)?

      KuCoin Token is the native token of KuCoin exchange. The token allows users to capitalize from the exchange through profit sharing. KuCoin Token is an ERC-20 token based on the blockchain of Ethereum. It also has a deflationary mechanism with the initial supply set at 200 million tokens. The buyback and burning will continue until only 100 KCS tokens are left. The decreasing supply of the token may be contributing to its increasing value.

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