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- 1 The Kucoin asset is expressing bearish behavior and has the opportunity to fall further.
- 2 The KCS crypto asset is showing bearish signs and the RSI is below the 50 level, indicating that the asset is still in a bearish zone and can go lower.
KCS is the original token of KuCoin, which was introduced in 2017 as a profit-sharing token that enables traders to earn from the exchange.
KCS Bonus is deemed as one of the best ways to get passive income. Users who hold more than 6 KCS can get a daily dividend, which arises from 50% of KuCoin’s daily trading fee revenue.
The amount of rewards that any user can get directly depends on the number of KCS held and the trading volume of the KuCoin Exchange.
KuCoin utilizes the standard encryption protocol that ensures that user data and data transfers within the system are concealed from other users.
It benefits from a multi-cluster and multi-layer architectural technique or it can be said as a strategy that can handle more than one transaction simultaneously all at once, ensuring system stability throughout every transaction.
Is Kucoin Crypto Geared For A Steep Drop Soon?
The Kucoin asset is expressing bearish behavior and has the opportunity to fall further. It has shown bad performance last month, dropping by 7.47%, and implying a stable downward direction.
The KCS crypto asset is exhibiting bearishness and low capacity as it slid below major trend EMA’s, contingent on the sellers’ surge KCS could consume dynamic supports of greater EMAs as well.
The KCS crypto asset is showing bearish signs and the RSI is below the 50 level, indicating that the asset is still in a bearish zone and can go lower.
The price structure of the KCS crypto has displayed a sign of decline from the supply level as the price fell from this critical level which was placed around $14 on the charts.
The KCS crypto looks like it is almost at a big fall, as it meets the resistance level and it could dive to new lows from the current support zone.
The KuCoin crypto has experienced a surge of 1.38% in the last 24 hours, trading at $10.0213 and the price action seems bearish and lacks momentum, as observed by the tiny candlesticks on the daily chart.
Therefore, if the KCS crypto price fails to stay above the $9.00 level, it could decline further.
However, if the demand for the KCS remains high, the asset price could bounce back from the current level. The next goal for the KCS price is to reach $12.00.
Summary
The price action of the KCS crypto asset is exhibiting bearishness on the daily timeframe and showing falling capacity as it slides below major trend EMA’s, MACD and RSI is negative. Therefore, if the KCS crypto price fails to stay above the $9.00 level, it could decline further.
Technical Levels
Support Levels: $9
Resistance Levels: $12
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.