The KuCoin token (KCS) is showing a bullish momentum after recently surpassing its earlier ATH of $20.5. The recent price actions set this token to an uprising momentum that will likely take the token price to over $25. Recent developments seen in the KuCoin network are part of the reasons for the increasing investor confidence.
KCS Price Action
KCS has recently been showing signs of continuing a bullish trend. The upward trend comes after the token surpassed its earlier ATH recently. KuCoin Token is currently trading at $21.62.
According to Coinmarketcap, the token increased by about 13.23% in the past 24 hours with a price change of about $2.53. The coin’s lowest price in the past 24 hours is $19, while the highest price is $22.5.
KuCoin’s earlier all-time high occurred in 2018 when the coin’s value went to $20.5. Today’s price actions hitting $22 indicate a bullish statement. Technical expert analysts also see a possible long-term bullish trend connected to KCS.
KuCoin Price Prediction
Earlier, expert analysts had meagre expectations of KuCoin prices at the end of the year. Most analysts set the price at just about $15. Recent price actions in the KCS are indications for revising the price predictions. Of course, the prices of the token can go either way, a downtrend or uptrend.
In the uptrend, the token will be facing quite a tough time hitting the $25 resistance. However, recent price actions indicate that KCS can go even beyond the mark. For instance, the trading volumes increased by 346% in the past 24 hours. Tradingview suggests that the market situation currently is a strong buy, meaning investors have immense confidence.
The technical indicators are a clear sign that KCS could continue to be bullish for quite some time. If KCS surpasses the $25 mark, that will open it to further future price surges. The coin can go above $30. But, the negative is also possible.
As the token’s value goes towards $30, market bulls could decide to start booking their profits. Hence, they may begin to sell/dump the tokens. More sell transactions will change the market situation from a strong buy to a strong sell. Investors’ confidence will reduce, and in the end, KuCoin could retreat to its support of $16. While KCS is likely going bullish for days or even weeks, a backtrace is also possible.
KuCoin Network Recent Developments
KuCoin is one of the top exchanges for crypto investors today.
KCS vastly benefits from its connections with the exchange. Additionally, KuCoin has been burning KCS to make it deflationary and add extra demand pressure. The burns contribute to the increased price growth. But, the development of KCC has also been impactful in KSC value growth.
In mid this year, KuCoin launched its community chain KCC, capable of hosting other smart projects.
Already, several projects have emerged from this chain. The developments on the KCC contribute vastly to the growth of the token. As the KCC grows, investors should expect an even better performance of the KCS token soon.