KuCoin token (KCS/USD) was amongst a handful of cryptocurrencies that posted double-digit features on Monday. With a surge of about 20%, the token was solely rivalled by the Trust Wallet Token within the prime 100 listing by market cap. The coin is native to the KuCoin crypto change.
KuCoin claims to be the world’s largest social buying and selling platform. The change lists over 20 million international buyers and greater than 1 trillion USD gathered buying and selling quantity. Over 700 cash can be found on the platform.
Whereas KCS traded at a excessive of $28 in November 2021, it has come crashing this yr. The token trades at simply $7.9. That’s a drop of greater than 70%. The decline continues to be beneficial in comparison with some cryptocurrencies, which have misplaced no less than 90% of their worth from their all-time highs.
The features in KCS occur despite the fact that confidence ranges on crypto exchanges stay low. In gentle of the considerations, KuCoin assured customers of the security of their funds. The corporate mentioned it was engaged on the Merkle-tree proof-of-reserves as an accountability measure. Ought to the most recent value bounce reignite hope for additional recoveries of KCS?
KuCoin token slowing down after assembly resistance
Supply – TradingView
The newest value bounce takes the KuCoin token close to a resistance at $8.69. The token has slowed down close to the resistance zone.
The MACD indicator stays deep within the bear zone. Though momentum is weak, the severity has lessened following the intra-day features.
Must you purchase KCS?
The intraday features are optimistic for KCS, on condition that they arrive when cryptocurrencies are beneath stress. Nevertheless, the momentum may very well be unsustainable, given the inherent dangers and $8.69 resistance. In case you are shopping for KCS now, you need to be prepared for potential extended consolidation.
The place to purchase KCS
Skilling is a Scandinavian primarily based cryptocurrency dealer which has a desktop web site in addition to apps for iOS and Android units.
It helps over 50 cryptocurrencies and it has a demo account to permit customers to achieve familiarity with the platform.
Skilling has no hidden charges, it’s an formally regulated dealer and it helps a variety of cost strategies.