In this article, we will analyze the KuCoin coin, which is sixtieth behind Bitcoin, according to coinmarketcap data. First, we will discuss the KuCoin coin and its projects and make a technical and graphic analysis. The analysis we will do in the weekly period will help the investors to take risks and manage their portfolios.
What is KUCOIN Coin?
KuCoin Coin (KCS) is the native cryptocurrency of the KuCoin exchange. It was created in 2017 as an ERC-20 token and has since migrated to its blockchain. KCS holders receive various benefits on the KuCoin exchange, such as reduced trading fees, access to exclusive token sales, and other rewards.
KuCoin is a cryptocurrency exchange founded in 2017 that allows users to trade various cryptocurrencies. The business focuses on low trading fees, high security, and user-friendly features.
What are the projects of KUCOIN?
Some projects associated with KuCoin include KuCoin Play, a gaming platform that rewards players with cryptocurrency, and KuChain, a decentralized blockchain network that provides infrastructure for developing decentralized applications.
Factors Influencing KUCOIN Price
Several factors can influence the price of KuCoin Coin, including:
Adoption and usage: As more people use the KuCoin exchange and its associated products, demand for KCS may increase, potentially leading to a rise in price.
Market sentiment: The overall sentiment of the cryptocurrency market can affect the price of KCS, as investors may become more bullish or bearish on cryptocurrencies.
Competition: As there are many other cryptocurrency exchanges and tokens, competition may affect the adoption and usage of KuCoin and KCS, potentially impacting the price.
Regulatory environment: Changes in regulations or legal issues related to cryptocurrency could also affect the price of KCS.
KU COIN TECHNICAL ANALYSIS
KuCoin, which started trading in March 2017, reached its highest price with a value of $ 28,776 in November 2021 and then entered a downtrend, falling by 77% to $ 6,357, which was horizontal support in January 2023. From the beginning of 2023 until today, it has increased in value by 33% and risen to $ 8.48. At the time of writing, it is traded at $ 8.48. According to www.coinmarketcap.com data, KUCOIN, which has a size of $835,343,287, has had a volume of $ $1,668,525 in the last twenty-four hours.
KUCOIN Chart Analysis
When we examine the KuCoin chart, which started trading in March 2017, we can see that it has peaked twice in its history. KuCoin, which reached its highest value of $ 28,776 in November 2021, later declined to the horizontal support of $ 6,357 with sales in the market. As long as it stays above this value, KuCoin, which is ready to rise at any moment, targets upwards weekly; It comes in at $8.97 and $10,975. In possible pullbacks, the $ 6.35 level is our support zone.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their research when deciding. This article does not include investment advice or suggestions. Every investment and trading move involves risk, and readers should perform their analysis when determining.
