• KuCoin Token (KCS) is a profit-sharing token used on the KuCoin exchange.
• KCS has a bullish price prediction of $8.774 to $14.513, and a bearish prediction of $6.257 for 2023.
• Current market statistics show that KCS is currently trading at $8.67 with 24 hour trading volume of $1,771,563 and 24 hour price change of 4.8% up
What is KuCoin Token (KCS)?
KuCoin Token (KCS) is the native token of KuCoin, which is a profit-sharing token that allows traders to draw value from the exchange. It was established as an ERC-20 token running on the Ethereum network and was supported by most Ethereum wallets. KuCoin has announced that Empowering KCS will be a priority of KuCoin and will build KCS as a killer product rather than a simple token which is bound to further diversify the benefits that KCS holders can access. It employs the standard encryption protocol that ensures user data and data transfers within the system are hidden from other users.
KuCoin Token (KCS) Price Prediction 2023
KuCoin Token (KCS) holds the 56th position on CoinGecko right now. The current market status shows that KSC prices are at $8.67 with 24 hour trading volume of $1,771,563 and 24 hour price change of 4% up from all time high at $28.83 on December 01 2021). Based on patterns such as ascending scallops pattern, it appears that if this pattern continues then KSC might reach resistance level of 9197 while if trend reverses then it may fall to 8104 dollars in 2023 based on current beliefs by analysts and experts in cryptocurrency industry..
Support & Resistance Levels
The chart also shows support level at 8104 dollars whereas resistance levels are placed around 9197 dollars for year 2021-2022 .This means there will be steady flow of buyers during this period but not too much volatility in market due to strong support/resistance levels making it more feasible option for investors looking long term investment options in crypto space over traditional investments like stocks or commodities etc . However one should always do their own research before investing in any asset class including digital assets like cryptocurrency since markets can be highly volatile sometimes .
Price Predictions for 2022 & 2023
In terms of longer term predictions ,the bullish forecast predicts an increase in price upto 14513 dollars while bearish outlook predicts 6257 dollar mark by year 2023 . This indicates there could be substantial growth potential for any investor willing to invest in long term as well as short term gains depending upon how successfully they manage their portfolio allocations between various asset classes including digital assets such as cryptocurrencies etc .
Conclusion
Overall ,Kucoin token(KSC) offers good prospects both short term and long term with bullish outlook predicting upto 14500 dollar mark by end 2022 while bearish estimates predicting 6257 dollar mark by end 2023 . So any investor willing to invest should consider investing into this cryptocurrency after doing their own research about market conditions before investing into any asset class including cryptocurrencies since markets can be highly volatile sometimes .