Kucoin exploding

25 de nov. de 2021

Hello.
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

25 de nov. de 2021

Nota

The graph got polluted, I forgot to remove the volume and RSI... now it's better: