KCS; waiting for the next rally!Huge potential, Great usecase, just DCA'ing and waiting for the next rally for this gem!
KCSETH trade ideas
Kucoin explodingHello.
Do you know KCS? Otherwise I'll introduce you here.
Fundamentalist analysis
KCS is the native currency of Kucoin, one of the largest exchanges in the world.
It is used as a utility token (to lower rates), and also in the same broker's KCC blockchain in the DeFi ecosystem.
In other words, it is to Kucoin what BNB is to Binance.
On the DefiLama website, which specializes in analyzing DeFi data, the KCC blockchain was first created in August of this year, so it's pretty recent.
According to this same site, this blockchain has a TVL (Total Value Locked) of $17,060,873.
So it's an ecosystem that is growing and is just beginning.
The supply data for this currency are:
Total Supply: 167,073,331 units
Circulating Supply: 77,073,331 units
Graphical Analysis
KCS/USDT
On the monthly chart against the Dollar we have a breakout in a "Cup and Handle" pattern.
By plotting the Fibonacci range, the next target is at $89, which is a very promising thing.
KCS/BTC and KCS/ETH
On the same graph against Bitcoin and Ethereum, we also have a breakout of a resistance.
Considering the last historical top in these two assets, we have an upside of around 100%.
Hope this helps, greetings
KCS ETH downward trend continuesAs you can see in the 1h analysis ETH/KCS did not manage to break out of the falling channel. This is due to short time since alts recovered strength again since today. Either alts continue recovering and so will ETH/KCS or Btc is going down again and ETH/KCS as well.
