As the 10th biggest cryptocurrency centralized exchange on CoinMarketCap, based on traffic, liquidity, and trading volumes, KuCoin is back in the game. As the bull market begins, KuCoin registers a trading volume of more than $1B and a bullish comeback in its native token, KCS price.
The KCS price in the past week has increased by nearly 14.28%. Further, the bullish recovery surpasses the $10 psychological mark and teases a new 52-week high. Find out more in our KuCoin token price analysis.
Kucoin’s KCS Token Price Analysis
In the weekly chart, the KCS price trend shows a bullish comeback from a local support trend line. And the 38.20% Fibonacci level price at $7.44. The recovery run from this Fibonacci level accounts for a 36% surge in the last six weeks.
The recovery rally has surpassed the 50% Fibonacci level at $9.36 and the 50-day EMA. Currently, it is challenging the 200-week EMA as it maintains dominance above the $10 psychological mark.
As it heads higher, a change of character is highlighted with the 50% Fibonacci level breakout and a rounding bottom reversal. The KCS price is heading higher to challenge the 61.80% Fibonacci level at $11.77.
The breakout of this level is likely to reach the $16.31 mark for a new 52-week high before the end of December 2024.
Technical indicators:
MACD: Supporting the bullish trend, the weekly MACD indicator shows a positive crossover with a resurgence of bullish histograms. The last positive crossover in MACD occurred in October 2023, leading to the early 2024 bull run.
SMA: The 50-week and 200-week SMAs are teasing a golden crossover as they inch closer.
Will KCS Price Reach $15?
Based on the Fibonacci retracement tool, the bullish comeback will likely hit the $24.71 mark for a new 52-week high. The price targets beyond the current all-time high of $29.28 are at $1.272 and $1.618 Fibonacci levels, respectively, at $41.89 and $81.99.
Curious if the CEX tokens will explode in 2025? Find out now in Coinpedia’s BNB coin price prediction.
FAQs
The KCS price is in a bullish trend, aiming to break the $16.31 resistance for a new 52-week high.
Key levels include $11.77 (61.80% Fibonacci), $16.31 (52-week high), and $24.71 as the next target.
A bullish market recovery, Fibonacci level breakouts, and technical indicators like MACD and EMA are fueling the rally.
