The KuCoin token eventually got rejected on its 1D MA100 (green trend-line) and the result (along with the general geopolitical fear in the market) was getting on Thursday to the closest it's been at the bottom of its 10 month Channel Up since January 22. Along with strong news coming from the KuCoin labs with regards to the Metaverse, this mix of technicals and fundamentals create a favorable R/R buy opportunity. But let's look into both outlooks in greater detail.
** Technical analysis **
As mentioned above, the price is now just a few price points above the Higher Lows trend-line (bottom) of the long-term Channel Up that KCS has been trading in since the May 19 2021 market bottom. The January - February price action is quite similar to that fractal from May 2021, as both made two Higher Lows on the Channel's bottom with the last Low coming after a rejection on the 1D MA100. The latest rejection was in fact a Double Top on the 1D MA100. Needless to say, a break above the 1D MA100 is a buy confirmation for those seeking less risk but long-term traders who are willing to take dip buy opportunities can't get a better buy signal than that within a structured technical pattern.
See how those two similar Accumulation Phases within the 1D MA100 and the 1D MA200 (orange trend-line), also share an identical 1D CCI pattern. The 2021 bottom made a Higher High almost immediately and eventually made a new market Top just below the 1.236 Fibonacci extension at 1.236. On the current sequence, the 1.236 Fib extension is at 33.885. That is the medium-term target for March - beginning of Q2.
** Fundamental analysis **
Perhaps even better news for KuCoin's long-term outlook come from the fundamental side.
As 2022 is now upon us, KuCoin Labs takes a closer look at what this year will bring for the industry. Will there be more excitement, or will regulators push back aggressively? Is the NFT trend coming to an end, or is this only the beginning of a global multi-year trend? Can existing bottlenecks in the cryptocurrency and blockchain space finally be addressed?
“KuCoin Labs takes its role in promoting the development of the whole crypto industry. We incubate and invest in innovative projects, guide their development to their maturity where they would bring the best of crypto. As one of the top investment institutions, KuCoin Labs team gathers professional research on a forward-looking journey, unceasingly diving deep into every aspect and detail of a vertical. KuCoin Labs aims to be an integral force in building the future of Web 3.0," said Lou Yu, head of KuCoin Labs.
The forecasts touch upon some interesting points that cannot be overlooked by anyone even remotely associated with the industry. First, KuCoin Labs acknowledges that financial institutions remain crucial to taking the blockchain and cryptocurrency to the next level.
Moreover, more companies have set up Bitcoin treasuries in 2021, even though BTC has retraced by almost 50% from the all time high. KuCoin Labs expects more institutions to be transparent about their Bitcoin purchases, although they may not necessarily acquire BTC directly.
The focus on Layer-1 and decentralised finance is likely to continue throughout 2022. There is much room for further progress, whether it be scalability for Layer-1 or more complex and rewarding DeFi protocols. Other trends to keep tabs on include:
NFTs
GameFi
DAOs
SocialFi
MetaFi
Regulation
And much more
On top of that, the exchange has been announcing great competitions all week including:
- A $500 giveway to celebrate the world premiere listing of $Ranker.
- The KuCoin via Simplex Carnival of a $10000 prize pool with only 3 days left.
- 2000 USDT Prize Pool for KuCoin Margin adding the GariToken and UOS.
and many many more which you can find about on their Twitter page!
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** Technical analysis **
As mentioned above, the price is now just a few price points above the Higher Lows trend-line (bottom) of the long-term Channel Up that KCS has been trading in since the May 19 2021 market bottom. The January - February price action is quite similar to that fractal from May 2021, as both made two Higher Lows on the Channel's bottom with the last Low coming after a rejection on the 1D MA100. The latest rejection was in fact a Double Top on the 1D MA100. Needless to say, a break above the 1D MA100 is a buy confirmation for those seeking less risk but long-term traders who are willing to take dip buy opportunities can't get a better buy signal than that within a structured technical pattern.
See how those two similar Accumulation Phases within the 1D MA100 and the 1D MA200 (orange trend-line), also share an identical 1D CCI pattern. The 2021 bottom made a Higher High almost immediately and eventually made a new market Top just below the 1.236 Fibonacci extension at 1.236. On the current sequence, the 1.236 Fib extension is at 33.885. That is the medium-term target for March - beginning of Q2.
** Fundamental analysis **
Perhaps even better news for KuCoin's long-term outlook come from the fundamental side.
As 2022 is now upon us, KuCoin Labs takes a closer look at what this year will bring for the industry. Will there be more excitement, or will regulators push back aggressively? Is the NFT trend coming to an end, or is this only the beginning of a global multi-year trend? Can existing bottlenecks in the cryptocurrency and blockchain space finally be addressed?
“KuCoin Labs takes its role in promoting the development of the whole crypto industry. We incubate and invest in innovative projects, guide their development to their maturity where they would bring the best of crypto. As one of the top investment institutions, KuCoin Labs team gathers professional research on a forward-looking journey, unceasingly diving deep into every aspect and detail of a vertical. KuCoin Labs aims to be an integral force in building the future of Web 3.0," said Lou Yu, head of KuCoin Labs.
The forecasts touch upon some interesting points that cannot be overlooked by anyone even remotely associated with the industry. First, KuCoin Labs acknowledges that financial institutions remain crucial to taking the blockchain and cryptocurrency to the next level.
Moreover, more companies have set up Bitcoin treasuries in 2021, even though BTC has retraced by almost 50% from the all time high. KuCoin Labs expects more institutions to be transparent about their Bitcoin purchases, although they may not necessarily acquire BTC directly.
The focus on Layer-1 and decentralised finance is likely to continue throughout 2022. There is much room for further progress, whether it be scalability for Layer-1 or more complex and rewarding DeFi protocols. Other trends to keep tabs on include:
NFTs
GameFi
DAOs
SocialFi
MetaFi
Regulation
And much more
On top of that, the exchange has been announcing great competitions all week including:
- A $500 giveway to celebrate the world premiere listing of $Ranker.
- The KuCoin via Simplex Carnival of a $10000 prize pool with only 3 days left.
- 2000 USDT Prize Pool for KuCoin Margin adding the GariToken and UOS.
and many many more which you can find about on their Twitter page!
--------------------------------------------------------------------------------------------------------
** 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.