Huge news for the KuCoin token (KCSUSDT) yesterday as the KCS Management Foundation, KCC community, and KuCoin have jointly released the KCS Whitepaper! The 1D green candle following this release was the strongest since November 25 2021. This appears to be the right catalyst at the right time to kick-start KuCoin's new long-term rally. But let's break those news down to the technical and fundamental parts in more detail.
** Technical Analysis **
As mentioned above, the key development of this week is the fact that the token broke above a trend-line that has been holding since January 06 and until yesterday it counted 4 clear rejections. With this candle spike, the price also broke above the Lower Highs trend-line that has been holding since December 04 2020. If the 1D candle closes above the 21.300 level, then buyers can go on and target the natural barrier of the 23.600 Resistance and the 0.618 Fibonacci Retracement level. A break above that Resistance, most likely sets in motion the final run towards the 28.765 High of November. On the other hand, any rejection on the Resistances, should cause a pull-back and test of the Higher Lows trend-line, which started on the January 22 bottom. Note that the MACD is on a Bullish Cross.
** Fundamental Analysis **
The highlight of the week from that perspective can't be anything other than the new Whitepaper and that is already illustrated on the price. A little background first, known as the “People’s Exchange”, KuCoin is a Top 5 Crypto Trading platform with over 600 coins and 10+ million users. KCC is a public chain project initiated and built by the developer community of KCS and KuCoin that aims to solve the network latency and high gas fee of Ethereum. KCS is the native token of KuCoin Exchange and KCC.
● With the vision of “from geeks to mass adoption”, KCS is building a blockchain-based value sell-circulation ecosystem.
● KCS will redistribute the 90 million KCS locked at the time of issuance, from which 20 million KCS will be directly burned.
● KCS will connect the world of both centralization and decentralization and will build a Web 3.0 ecosystem.
● KCS Management Foundation is established to empower the KCC ecosystem.
Those above are just the key bulletpoints of the KCS Whitepaper. You can find the full report on their website and twitter page.
The great news don't stop there. To celebrate the release of the whitepaper, the exchange is launching the KCS Super Week! Read the Whitepaper and answer the questions to earn a lottery ticket and try your luck to win a share of 21,000 KCS, up to 5,000 KCS for each user! There is also a 50,000 USDT Giveaway on KuCoinFutures! Don't miss out!
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** Technical Analysis **
As mentioned above, the key development of this week is the fact that the token broke above a trend-line that has been holding since January 06 and until yesterday it counted 4 clear rejections. With this candle spike, the price also broke above the Lower Highs trend-line that has been holding since December 04 2020. If the 1D candle closes above the 21.300 level, then buyers can go on and target the natural barrier of the 23.600 Resistance and the 0.618 Fibonacci Retracement level. A break above that Resistance, most likely sets in motion the final run towards the 28.765 High of November. On the other hand, any rejection on the Resistances, should cause a pull-back and test of the Higher Lows trend-line, which started on the January 22 bottom. Note that the MACD is on a Bullish Cross.
** Fundamental Analysis **
The highlight of the week from that perspective can't be anything other than the new Whitepaper and that is already illustrated on the price. A little background first, known as the “People’s Exchange”, KuCoin is a Top 5 Crypto Trading platform with over 600 coins and 10+ million users. KCC is a public chain project initiated and built by the developer community of KCS and KuCoin that aims to solve the network latency and high gas fee of Ethereum. KCS is the native token of KuCoin Exchange and KCC.
● With the vision of “from geeks to mass adoption”, KCS is building a blockchain-based value sell-circulation ecosystem.
● KCS will redistribute the 90 million KCS locked at the time of issuance, from which 20 million KCS will be directly burned.
● KCS will connect the world of both centralization and decentralization and will build a Web 3.0 ecosystem.
● KCS Management Foundation is established to empower the KCC ecosystem.
Those above are just the key bulletpoints of the KCS Whitepaper. You can find the full report on their website and twitter page.
The great news don't stop there. To celebrate the release of the whitepaper, the exchange is launching the KCS Super Week! Read the Whitepaper and answer the questions to earn a lottery ticket and try your luck to win a share of 21,000 KCS, up to 5,000 KCS for each user! There is also a 50,000 USDT Giveaway on KuCoinFutures! Don't miss out!
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** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
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👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.