- The value of KCS rose 1.83% over the previous 24 hours and was buying and selling at $6.25.
- KCS’ achieve is important given the truth that the vast majority of the market dropped throughout the identical interval.
- The MACD indicator on KCS’ each day chart prompt that the altcoin might bear a bearish pattern reversal quickly.
KuCoin Token (KCS) noticed its value rise by 1.83% all through the previous day of buying and selling, bringing the token’s buying and selling worth as much as $6.25 in accordance with CoinMarketCap. Though the token’s efficiency won’t appear to be such a feat at first, it’s fairly vital contemplating the truth that many of the prime 100 tokens noticed their costs dip by over 2% prior to now 24 hours.
Throughout this time, the worth of KCS was capable of attain a excessive of $6.33. The soar in KCS’ value additionally allowed it to strengthen in opposition to the market chief, Bitcoin (BTC), by about 1.99%. In the meantime, the token’s 24-hour buying and selling quantity slipped by simply over 4%, which introduced its quantity right down to $2,168,387 at press time.
KCS’ market cap was capable of climb to $605,016,709, which ranked it because the 72nd largest cryptocurrency by market capitalization. This positioned it proper behind Gala (GALA) and simply forward of Mina (MINA).
KCS was trying to beat the $6.34 resistance degree at press time. Ought to it break above this vital mark, then it might rise to the following barrier at $6.610 in the next few days. This bullish thesis could also be invalidated if KCS closes at this time’s each day candle under $6.340.
On this extra bearish situation, KCS might fall under $6.070 and probably drop to as little as $5.770 by means of the course of the next week. Merchants and buyers will wish to observe that the each day Transferring Common Convergence Divergence (MACD) line was closing in on the MACD Sign line.
That is typically seen as a bearish sign, because it means that KCS’ constructive pattern might bear a bearish reversal quickly. If the MACD line crosses under the MACD Sign line, then the pattern reversal might be confirmed.
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