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- 1 The KCS token signifies a neutral trend and has witnessed a trend reversal.
- 2 Technical indicators are suggesting a rebound ahead.
The KCS token price delivered a roller coaster move and reverted gains toward the origin near the $10 mark close to the 200-day EMA mark. Amidst a significant buying momentum and a jump of over 45% in gains last month, the sellers have succeeded in their mission, and bulls looked trapped at highs. On the charts, a fake breakout and a sharp rejection near the $15 mark came into the limelight, which led buyers to be trapped, and a sharp decline of over 38% in the past two weeks was witnessed.
At press time, the KuCoin token (KCS) price was trading at $10.37 with an intraday drop of 0.37%, reflecting neutrality on the charts. It has a monthly return ratio of -21.82% and 24.55% on a yearly basis. The pair of KCS/BTC is at 0.000153 BTC, and the market cap is $784.04 Million. Analysts are neutral and suggest that the KCS price may retain gains and will retest the upside mark of $15 soon.
KCS Token Price Analysis Over Daily Timeframe
The KuCoin token price has witnessed a trend reversal and has slipped below the 100-day EMA mark, signifying underperformance this month. Additionally, the sellers have gained momentum and are willing to continue the retracement move toward the 200-day EMA. The intraday trading volume dropped over 18.11% to $1.60 million, signifying low investor interest.
Price Volatility Data and Sentiment Replicates Negative Outlook
Following the price decline, the price volatility data witnessed a significant drop of over 42%, dragging to the 0.07 mark. Similarly, the weighted sentiment value remained in the negative region, at around -0.35.
Social Dominance and Twitter Followers Overview
Per the Santiment data, the social dominance data noted a severe decline of over 350% and dragged to 0.011%, implying a negative outlook. Similarly, the Twitter followers also eroded over 540% and dropped to 1900 this week.
What Does Active Addresses and Amount Of Holders Indicate?
Per the data, the active addresses remained average, the same as last month’s value, at around 412. In contrast, the number of holders depicts a consistent up move, reaching the 70.1k mark, which signifies a positive interest among investors.
Per the Fib levels, the KCS token price has slipped below the 38.2% zone and is trading near the lower Bollinger band support zone of $10. The RSI curve stayed in the oversold region and reflected a negative crossover on the charts.
The total supply of the KCS token is 165.64 million, whereas the volume-to-market cap ratio is 0.00203, and it stands at 123 per the market cap in the global crypto market.
Summary
The KuCoin token price has regressed to the primary support zone of $10 and is glimpsing a selloff on the charts. Despite the severe reversal, the technicals are still favoring a rebound, and a significant pullback from the 200-day EMA will be seen shortly.
Technical Levels
Support Levels: $9.80 and $9
Resistance Levels: $10.60 and $11.20
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.
