KCS is the governance token of the KuCoin blockchain-based cryptocurrency exchange. It is a gain-sharing ERC-20 token that is compatible with the Ethereum (ETH) blockchain network and all ETH wallets. Its reward and the incentive-based system allow users to earn passive income. Let us look at the technical analysis of KCS.
<h2><b>Past Performance</b></h2>
On Jul 14, 2021, KCS opened at $11.25. On Jul 20, 2021, KCS closed at $8.37. Thus, <a href="https://www.cryptoknowmics.com/news/kcs-technical-analysis-trading-at-10891price-slightly-reduced-from-the-opening-of-10735/">in the past week</a>, the price has decreased by roughly 26%. In the last 24 hours, KCS has traded between $8.15-$8.89.

<img class="shrinkToFit" src="https://s3.tradingview.com/snapshots/w/wkwA1oyX.png" alt="https://s3.tradingview.com/snapshots/w/wkwA1oyX.png" width="1085" height="513" />

<a href="https://s3.tradingview.com/snapshots/w/wkwA1oyX.png">https://s3.tradingview.com/snapshots/w/wkwA1oyX.png</a>
<h2><b>Day-Ahead and Tomorrow</b></h2>
Currently, KCS is trading at $8.50. The price has increased from the day’s opening price of $8.37. Thus, the market seems bullish.

The <strong>MACD and signal lines</strong> are positive. Thus, the overall market momentum is bullish. However, a bearish crossover by the MACD line over the signal line has occurred. Hence, we can expect an intermittent price pullback amidst a rising trend.

Currently, the <strong>RSI indicator</strong> is at 71%. It faced rejection at 75% and fell to the current level.

However, buying pressures are still high. High buying activity will exert upward pressure on the KCS price.

Besides, the <strong>OBV indicator</strong> is rising steadily. Thus, buying volumes are higher than selling volumes. Hence, the price may increase further. In a nutshell, all three indicators have given bullish signals. However, intermittent price pullbacks cannot be ruled out.
<h2><b>KCS Technical Analysis</b></h2>
Currently, the price is above the <strong>Fibonacci pivot point</strong> of $8.47. The price may soon breach the <strong>first</strong> and <strong>second Fibonacci pivot resistance levels</strong> of $8.75 and $8.93, respectively.

Currently, the price is above the <strong>50% FIB retracement level</strong> of $8.52. It may soon break out of the <strong>38.2% FIB retracement level</strong> of $8.60. Thus, as of now, the bulls are strong. Hence, we can expect the price uptrend to continue today and tomorrow.

KCS Technical Analysis: Price May Soon Breach the First and Second Fibonacci Pivot Resistance Levels of $8.75 and $8.93

KCS price above the 50% FIB retracement level of $8.52. It may soon break out of the 38.2% FIB retracement level of $8.60. Thus, as of now, the bulls are strong. Hence, we can expect the price uptrend to continue today and tomorrow.

Ankita is reading geek by birth, she loves to read and write about finance and now cryptocurrencies and blockchain since 2017. A Bitcoin enthusiast ever since, she likes to understand businesses and how they affect everything else. Ankita contributes on our news bulletin with the latest happening in blockchain, crypto and ICO market specifically.

KCS Technical Analysis: Price May Soon Breach the First and Second Fibonacci Pivot Resistance Levels of $8.75 and $8.93

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