KCS was launched in 2017 as a native token for KuCoin. It allows its users to draw value from the exchange. It is supported by most of the ethereum wallets. The daily bonus system is the main selling point of KuCoin. Users who hold more than six KCS get a daily dividend. Which can cover 50% of the daily trading fee. The following KCS technical analysis will predict the price trends for the next few days:

Past Performance

On May 29, 2021, KCS opened at $6.48. On June 04, 2021, KCS closed at $8.60. Thus, in the past week, the KCS price has increased by approximately 32.76%. In the last 24 hours, KCS has traded between $7.86-$9.11.

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Day Ahead And Tomorrow

Currently, KCS is trading at $9.08. The price has decreased from the day’s opening price of $8.60. Thus, the market seems bullish.

The MACD and signal lines are entering the positive zone. Moreover, a bullish crossover by the signal line over the MACD line has occurred. Thus, the overall market momentum is turning bullish. Hence, the KCS price may increase further.

Currently, the RSI indicator is at 56%. It faced rejection at 53% and rose to this level. Thus, buying pressures are slowly mounting. We have to wait and watch if buying pressures become strong enough to bring about a bearish trend reversal.

In short, when we look at both the oscillators, we can say that the price may continue to increase. However, we cannot rule out the possibility of a trend reversal. We have to wait and watch to see if an intermittent price rise is a corrective action or the beginning of a positive trend.

KCS Technical Analysis

Currently, the price is taking support at a 61.8% Fibonacci retracement level of $8.995. If the bears remain strong till day end, then the price is likely to fall below the first, second, and third support levels of $8.71, $8.364, and $7.343, respectively.

The price has been tested and fallen below the level of $9.621. It may soon fall below the FIB retracement level of $8.985 and take support at the $8.812 level. Thereafter, we have to wait and watch if the price retests and breaks out of these levels. In that case, the price upswing is likely to continue tomorrow as well.