- KuCoin (KCS) price has increased almost 25 times in the first quarter of 2021.
- It is nearing its all-time high price of $21.14.
- KCS seems to be a good investment in 2021.
KuCoin Token (KCS) price has increased almost 25 times in the first quarter of 2021. It is nearing its all-time high price of $21.14 set on January 07, 2018.
KuCoin Token is an ERC-20 token that runs on the Ethereum blockchain network. KCS is the native cryptocurrency token of the digital asset exchange KuCoin. KCS started as a profit-sharing token in 2017 and allows traders to draw value from the exchange.
At the moment, KCS is the 77th cryptocurrency in terms of market capitalization. Currently, the top cryptocurrency exchanges for KCS are KuCoin, ProBit Exchange, and AscendEX (BitMax).
KuCoin Token Price Analysis – KCS Surges 25x in Q1 2021
According to CoinMarketCap, KCS trades at $17.54 with a 24-hour trading volume of $116,127,207. The price of LTC has decreased by 10.99% in the last 24 hours. Furthermore, KCS has a current circulating supply of 80,118,638 KCS.
TradingView)
As shown in the chart above, the price of KCS is $0.8 at the end of 2020. Then the price skyrocketed and increased 25x times in Q1 2021, reaching $20. In addition, in the monthly time frame, the chart shows an Ascending Scallop pattern.
Normally, this pattern is followed by an uptrend position, but in some cases, the pattern can change and move into a downtrend position. More so, in this chart above, the pattern took more than a month to form.
Furthermore, KCS is a good investment in 2021. Additionally, KCS has a high possibility of surpassing its current ATH at about $21.14 soon. All in all, it may even reach over $65 if investors have decided that KCS is a good investment in 2021.
This article was first published on coinquora.com