KuCoin Crypto Token, KCS, Ignoring Market Slump, Aims for 58-Day Peak Price
Revamped Crypto Insights:
** Buckle up, crypto enthusiasts! KuCoin's native token, KCS, is flaunting some impressive resilience amidst the market's downturn. The altcoin managed a 1% price hike over the past 24 hours. This minor victory could signal the start of a bigger bull run, as we'll delve into the indicators that demonstrate strengthening upward momentum.
The Heat is On: KCS' Buying Power Surges
The daily chart of KCS points towards intensifying bullish pressure. For example, its Relative Strength Index (RSI) is currently 58.32, on an ascending trajectory. The RSI, which measures an asset's overbought and oversold market conditions, is a clear sign that buying momentum is picking up speed.
Typically, when the RSI surpasses 70, it suggests that the asset is overbought and due for a price drop. However, at 58.32, KCS' RSI indicates a sustained demand without the immediate risk of overheating.
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KCS: MACD Indicates a Buy Signal
Speaking of buy signals, KCS' Moving Average Convergence Divergence (MACD) further supports the positive trend. As we speak, the MACD line is above its signal line. This MACD setup, often regarded as a buy signal, may lure traders to purchase more KCS tokens, escalating its short-term value.
KCS Tests High Ground: Will the Bulls Prevail?
Currently, KCS trades at $10.71, nudging up against the resistance formed at $10.90. If the demand for KCS solidifies and it successfully tops this price barrier, it could catapult KCS to $11.77, a height last scaled on March 3.**
However, if KCS holders decide to cash out, it could reverse its gains and plummet to $10.027. If the bulls can't defend this support level, KCS could witness a further decline, plunging to $8.94.
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Disclaimer:
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- The rise in KCS' price by 1% over the past 24 hours, despite the market's downturn, could signal the beginning of a stronger bull run.
- The Relative Strength Index (RSI) of KCS, currently at 58.32, is on an ascending trajectory, indicating a growing buying momentum.
- A sustainably high RSI, such as KCS' current standing, signifies a demand without immediate risk of overheating.
- The Moving Average Convergence Divergence (MACD) of KCS is currently above its signal line, suggesting a potential buy signal.
- KCS is currently trading at $10.71, testing the resistance formed at $10.90, and if successful, could reach $11.77.
- A potential decline in KCS could occur if it fails to top the resistance level, causing a drop to $10.027, and further to $8.94 if the support level at $10.027 is not defended by the bulls.
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