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- 1 The KuCoin Token price was $15.06, recording a swift intraday gain of 0.37%.
- 2 The number of Active wallets of KCS crypto has increased significantly in the last 1 month.
The KuCoin token price exhibits a sideways movement in the last couple of sessions with a bias to gain more. The KCS/USD crypto has benefited greatly in the last couple of weeks and is thirsty for more.
KuCoin crypto has been trading in green for the last three consecutive weeks and is trading in green for the fourth straight week. The KCS crypto has added over 40% in the last three weeks and is looking to add more value by the end of this week.
The bulls are in total control of the game and are looking to retain control over the trend as the crypto shows stability near the highs for the last few sessions. At the time of writing, the KCS crypto was trading near a round level of $15 with a swift intraday gain of 0.37%.
Now, if the bulls continue to dominate the price trend and KCS crypto surpasses $15 level, it could also reach $18 and $20 eventually.
Moreover, the relative strength index (RSI) indicator shows the price hovering in an overbought region. Also, the RSI line is about to make a bearish crossover of the 14-Day SMA line, indicating a possible correction in the price.
KuCoin Token Volatility & Volume Analysis
Moreover, the volume analysis shows that the KuCoin cryptocurrency received $3.04 Million volume in the last 24 hours which is 32.4% less than the previous day. The volume drop in the recent session shows the weakening in trend. The KCS crypto may drop lower for a pullback.
KuCoin has a live market capitalization of $1.45 Billion and ranks 77th in the overall crypto market. It has a circulating supply of 96.28 KCS tokens against a total supply of 143.78 Million KCS tokens.
Also, the volatility has increased in the recent sessions and it is currently is at its peak. it suggests that the crypto may be unstable at higher levels.
The number of Active Addresses Are Increasing Steadily!
Active addresses relate to special addresses of token users that participate in one or more transactions in a given timeframe. The number of diverse addresses in the KuCoin token that took part in a transfer for the given asset in the last 24 hours is 49, within a 7-day window, the number is 439 transactions, and within a 30-day period, it is 1348.
KCS Crypto: The Sentiments Data Shows Fluctuation In The Near Term!
The above chart displays the negative, positive and weighted overall sentiments of the KuCoin crypto. The data displays frequent fluctuations of sentiments in the recent sessions from positive to negative. The fluctuations indicate the volatility in the crypto. Currently, the overall sentiment has turned negative.
KCS Crypto Indicator Analysis
The technical oscillators (indicators) and moving averages imply a neutral to bullish outlook in the short term. Out of the 11 oscillators, including RSI, MACD among other, 2 indicate bullishness, 8 highlight neutrality and 1 is indicating bullishness.
The combined outlook of the moving averages is a strong buy. Out of 14 moving averages 12 are indicating a buy view, 1 is indicating a sell view and 1 is implying a neutral outlook.
KuCoin Token Price Prediction For March 2024
The short-term trend outlook is bullish which may continue to drive the price to the higher levels. The positive outlook of our analysts expects the price to reach a higher level of $18 and $20 by the month-end. On the other hand, the bearish view of analysts predicts that the price could drop to the 20-Day EMA at $13 level.
Conclusion
KuCoin crypto has been trading in green for the last three consecutive weeks. The bulls are in control of the game and are looking to retain control. The short-term positive outlook of our analysts is $18 and $20 (for the month).
The increasing number of addresses signify potential in the demand trend for the token. The technical oscillators (indicators) and moving averages imply a neutral to bullish outlook in the short term.
Technical levels:
- Support Levels: $13.71 and $11.69
- Resistance Levels: $15.49 and $17.95
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
