Kucoin Token (KCS) Price Prediction 2022- Will KCS’s Price Hit $28.27 in 2022?

Some pivotal information regarding KCS Prices: 

Holders of at least 6 Kucoin Token (KCS) receive daily dividends as passive income from fees generated on the Kucoin Exchange. KCS can as well be used in the payment of transaction fees at a 50% discount. Kucoin Token is supported by different wallets where it can be held for the long term.

Present and Past Performance of the Kucoin Token (KCS)

In the past 24-hours, the price of Kucoin Token (KCS) has increased by 1.76%. KCS is trading at $18.04 at the time of writing. This is irrespective of the decrease in the trading volume from $5,464,549 on May 3rd to $5,329,268. This represents a 2.48% decrease in the volume of trade.

In the past 7-days, the price of Kucoin Token (KCS) has increased by 1.76%. KCS is trading at $18.04 at the time of writing. This is irrespective of the decrease in the trading volume from $5,464,549 on May 3rd to $5,329,268. This represents a 2.48% decrease in volume of trade.

Within 7 days, the price of Kucoin Token (KCS) opened at $18.83 on April 27th and closed at $17.82 on May 3rd. This represents 5.42% decrease. However, the trading volume of KCS increased from $4,477,324 on April 27th to $5,464,549 on May 3rd. This represents 22.04% increase.

Comparison of Kucoin Token (KCS) with Bitcoin (BTC)

Source: https://www.tradingview.com/x/BxwMvzeu/

From the chart above, we can observe that the trend pattern of KCS/USDT and BTC/USDT looks similar. However, from data available in CoinGecko, BTC price has reduced by 6.1% in the past 14 days while KCS price also reduced by 13.8%. This means that KCS is more volatile than BTC, and investors in BTC are safer during a period of a market downtrend.

Price Analysis of Kucoin Token (KCS) from different indicators

Source: https://www.tradingview.com/x/iMEkm2tC/

The chart above represents the accumulation/distribution indicator (A/D) for Kucoin Token/Tether. A/D is used to determine the relationship between the price of a coin and the volume of trades. Since, the price of KCS is line consolidating in recent days while the volume of trades indicated by the indicator is moving in a straight line- it means that neither sellers nor buyers are having their way.

Source: https://www.tradingview.com/x/Oyo5zHwD/

The chart above shows the 200-MA and 100-MA of KCS/USDT on a 1day chart. Both moving averages are above the present candlestick, which indicates that it has a tendency of increasing soon. However, long-term investors would benefit since the 200-MA is below the 100-MA.

Source: https://www.tradingview.com/x/adtKIbuI/

The chart above indicates the Relative Strength Index of KCS/USDT on a 1day chart. RSI is used to show if a trend is in the oversold, weak/neutral, strong, or overbought region. It ranges from 0 to 100. Since the RSI value of Kucoin Token is 41.40, the present trend is neutral. Hence, the market forces can determine the next move which can either be bullish or bearish.

The Present Candlestick Interpretation

Source: https://www.tradingview.com/x/5I5SpS5w/

From the chart above, the present candlestick seems to be a bullish engulfing candlestick. This is because, the body of the last candlestick that is bullish, has covered the body of its immediate predecessor. Hence, the bulls seem to be having their way.

Key Levels Price Prediction for Kucoin Token (KCS)

Source: https://www.tradingview.com/x/Vme6LYL5/

The chart above represents the resistance and support levels of Kucoin Token on a 1day timeframe. The following can be deduced:

At support1 level, a triple bottom was formed which led to a reversal in the price of KCS. This bullish price reversal might push the price of Kucoin Token to close to $21.42 price at resistance1 level.

Since the crypto market had been moving in a consolidating manner in recent times, the price of KCS might drop to about $14.85 at the support2 level before a strong bullish run will be expected due to the formation of a double bottom. However, it is possible for the price to dip to around $9.28 at the support3 level, which is its minimum price prediction for 2022.

Tradeview Technical Deductions on Kucoin Token (KCS)

Source: https://www.tradingview.com/symbols/KCSUSDT/technicals/

From the link above, we can deduce that 14 out of the 26 indicators considered shows sell. 10 and 2 indicators represent neutral and buy respectively.

Market Sentiments for Kucoin Token (KCS)

Price prediction

According to priceprediction, the minimum and maximum prices of Kucoin Token (KCS) are $24.36 and $28.67 respectively in 2022.

Digitalcoinprice

According to Digitalcoinprice, the minimum and maximum prices of Kucoin Token (KCS) are $22.34 and $25.17 respectively in 2022.

Our Price Prediction for Kucoin Token (KCS) in 2022

From the key levels chart above, our minimum price for KCS in 2022 is $9.28 while the maximum price is in the range of $21.42 and $28.27.

Conclusion

At the moment, we can say that Kucoin Token (KCS) might get bullish soon due to the formation of bullish engulfing candlestick. However, to avoid losing more money due to market volatility, it is safer to invest in Bitcoin as seen in the KCS BTC comparison.