KCS Could See a 40% Price Boost this Season
The cryptocurrency market has experienced a slight recovery over the last couple of days with Bitcoin (BTC) rising above the $27,000 mark. The KuCoin Token (KCS) appears ready for a sustained recovery having collaborated with Stoic AI.
To celebrate this crucial milestone, we’ve prepared lucky draws, AMAs and rewards from both teams🤑
— Stoic AI ✨ (@Stoic_AI) September 11, 2023
This comes on the heels of the Hong Kong-based crypto exchange celebrating six years of continued growth. This saw an increase in trading activity on the KuCoin exchange as well as a surge in KCS’s trading volume. It also brought the KuCoin token to the attention of new investors.
KuCoin Token Eyes A Return To $6.2
Based on the price action on the daily chart below, it’s clear that the KuCoin Token price has begun increasing in value. Its price has increased by 17% since the beginning of September, pointing to increasing investor confidence.
The token turned away from the $4.9 level, rapidly dropping toward $3.5. The latest recovery has seen the KCS price rise from these Aug. 31 levels to set a swing high at $4.5. This price action has led to the appearance of a V-shaped recovery chart pattern on the daily chart (see below).
A V-shaped recovery chart formation is a highly bullish technical setup that points to a massive upward move once the chart pattern is confirmed. The target is determied by measuring the distance between the V-shape’s neckline and the lowest point reached in the pattern and adding it to the point of breakout.
In KCS’s case, a daily candlestick close above the immediate resistance at $4.5 would see the price climb to confront resistance from the 50-day Simple Moving Average (SMA) at $4.7. A rise higher would see the token reach the V-shape’s neckline at $4.9.
Overcoming this barrier would confirm a bullish breakout from the governing chart pattern with the next barrier sitting at $5.5, embraced by the 100-day SMA. Shattering this ceiling would pave the way for a rise toward the technical target of the governing chart pattern at $6.2. Such a move would represent a 40% ascent from the current price.
KCS/USD Daily Chart
This positive outlook is supported by the upward trajectory displayed by the Relative Strength Index (RSI). The price strength at 54 suggested that there were more buyers than sellers in the market who were controlling the price.
On the downside, a daily candlestick close below the pattern’s ascending trendline at $4.3 would see the KCS price embark on a fresh downtrend. A decline to $4.0 and the V-shape’s tip at $3.5 would be the next logical move.
The KuCoin Token is not the only crypto that has market participants excited with respect to potential gains. Bitcoin BSC is a new cryptocurrency in presale that seeks to give investors an opportunity Bitcoin (BTC) provided in 2011 when it was going for under $1.
Bitcoin BSC is an innovative project that combines the enduring value of Bitcoin with the advanced technology of the Binance Smart Chain (BSC). Its unique selling proposition lies in its novel staking mechanism, which encourages environmental sustainability and rewards long-term token holding.
This concept represents a fresh perspective on how token-based rewards and active participation function in the crypto industry.
Bitcoin BSC is a BEP-20 token built on the Binance Smart Chain and strongly emphasizes staking as an alternative to traditional Bitcoin mining. Holders of $BTCBSC tokens can generate passive income by staking their tokens, with rewards tied to the number of tokens staked, mirroring Bitcoin’s original block reward structure.
In the Bitcoin BSC ecosystem, staking rewards are determined by a participant’s stake in the staking pool and the prevailing Annual Percentage Yield (APY) of up to 145%.
This unique model fosters a decentralized and actively engaged community, ensuring ongoing growth within the token ecosystem.
The project is currently in presale with one BTCBSC token for $0.99 and has already raised $3.5 million in just ten days. It is now two-thirds of the way to its soft cap of $3.96 million raised, and once it hits this figure, the presale will be officially over.
Heartfelt gratitude to the entire #CryptoCommunity!
— Bitcoinbsc (@Bitcoinbsctoken) September 20, 2023
Interested investors can buy BTCBSC, by visiting the Bitcoin BSC website, connecting their wallet and using either BNB, ETH, or USDT.
One of the most followed crypto YouTubers, Joe Parys, reviewed Bitcoin BSC telling his over 380,000 subscribers that he believes BTCBSC has the potential to make 100X returns.
Visit Bitcoin BSC here for more details.
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