KCS, the native token for tier-1 exchange KuCoin, has dropped -1.5% as price action threatens to fall below the 20DMA despite bullish broader market sentiment – leading some dejected bag-holders asking ‘Is KuCoin going to zero?’.
This comes as KuCoin exchange falls to 41st place in CEX rankings (by 24-hour volume), with less than a billion in spot transactions despite surging volumes across the market.
Yet, in spite of low-level spot volumes, KuCoin could be showing signs of resurgence – ranking in the top subscriber gainers on reddit this week.
KCS Price Analysis: Is KuCoin Going to Zero Following Stalled Performance?
As Bitcoin triggers market excitement, KuCoin is currently trading at a market price of $4.58 (representing a 24-hour change of +1.10%).
This slight upside move is significant following the -1.5% move yesterday, which saw KCS briefly come down to re-test lower support from the 20DMA.
Now back atop the key moving average level, price is facing upside resistance froma a descendant lower trendline.
A break-out here likely depends on wider market sentiment, will Bitcoin maintain bullish position above $34,000?
Further signal emerge from KuCoin’s conflicting indicators, with the RSI heating up significantly to an overbought 58.89 – potentially indicating a return to the downside could come soon.
However, the MACD has flipped bullish with divergence at 0.012 – suggesting upside momentum is pushing up.
Overall, KuCoin doesn’t look weak here, the successful re-test of the 20DMA is a bullish technical sign, and although the RSI is heating up, it certainly hasn’t over-heated just yet.
This leaves KCS with an upside breakout target at $4.75 (a potential +3.26%).
While downside risk could see a return south to $4.45 (a possible -3.26%).
This gives KuCoin a risk: reward ratio reflects the Bitcoin dependent posture at 1 – with even risk vs reward on the cards.
In other news, an emerging Meme Coin presale is surging as retail investors rush back into the crypto market.
Meme Kombat Presale Surges With Bitcoin Pump – Now at $678k Don’t Miss Out
Meet Meme Kombat, a trailblazing initiative that has seamlessly blended the memetic love of nostalgic gaming, and GambleFi, into a decentralized Web3 platform.
So, what makes Meme Kombat tick, and why should potential investors keep a keen eye on this presale?
The essence of Meme Kombat lies in its captivating arena where characters aiming to tap into deeply tribal crypto communities lock horns.
Players have the liberty to place their bets on these animated battles, predicting the outcomes and possibly reaping attractive rewards.
With a sturdy promise of Season 1 showcasing 11 distinct meme characters, there’s no shortage of action, and Season 2 is already on the horizon for December 2023.
The decentralized nature of the project, combined with the thrill of AI-driven battles, ensures that the outcomes are both transparent and unpredictable – every battle is a new experience, ensuring players stay engaged.
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The project isn’t just about excitement; it’s built on a foundation of trust – Meme Kombat’s commitment to transparency is evident through initiatives like the impending security audit of their smart contract.
The findings of this audit will soon be public, a move that many projects shy away from.
The founder and project lead, Matt Whiteman, isn’t an unknown entity in the crypto space.
His experience spanning two decades in process design, combined with his position as the COO of North Technologies, adds credibility to Meme Kombat.
When so many projects hide behind the veil of anonymity, Whiteman’s open profile and the project’s physical address in Amsterdam offer an extra layer of trustworthiness.
The tokenomics of Meme Kombat is also an appealing factor for potential investors – Stake the Meme Kombat ($MK) token, priced attractively at $1.667, and dive into a rewarding ecosystem.
With a generous APY of 112%, stakers not only benefit from passive income but can also use their staked tokens to place bets in the arena – this dual functionality – earning while gaming – sets Meme Kombat apart.
Intriguingly, engagement on the platform directly influences the income one can earn, so, the more you participate, the more you stand to gain.
With the GambleFi industry booming following coins like Rollbit, Meme Kombat seems poised to tap into this lucrative market with its innovative approach.
By merging memes, gaming, and blockchain, the platform is presenting something fresh to the crypto community.
For those looking to diversify their portfolio with a unique offering, Meme Kombat seems like an opportunity too good to miss – so, don’t be left behind (stay tuned with the MK Telegram).
Embrace the future of meme-based gaming and betting with Meme Kombat.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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