Price Action
In the week prior, the price for Kucoin went down by -4.42%. It is below its 20 day moving average by 3.1%, so it’s slightly away. Kucoin’s bullish momentum, determined by its distance from its 20 day moving average, is roughly middle-of-the-pack relative to the cryptos we’re tracking. Now when considering volatility, Kucoin is more prone to sizable price moves than 7% of coins in our index, so this coin might not move much — something traders and investors will certainly want to keep in mind. Looking ahead, if the upcoming week mirrors the volatility of three past three weeks, the price range for Kucoin in US dollars is expected to be between $1.029529 and $1.199471.
Volume Update
Over the past week, KuCoin Shares saw its daily volume range between 1,104,897 and 24,376,721 units of its own currency. Over the past three weeks, the trend in volume,like the trend in price, is choppy and does not reveal a clear direction. Over the past week, KuCoin Shares saw its trading turnover — which we define as average daily trading volume divided by circulating supply — register at 14.07%. Its turnover rate is more than approximately 85.57% of the cryptocurrencies in our index, so it’s far above average and thus a good coin for those interested in active trading or being able to get out of the market if they need to.
Engagement Update
Over the past week, Kucoin saw its holders go from 57,684 to 57,782, an increase of 0.17%. As for overall transactions, they increased from 114,672 to 115,071 — an increase of 0.35%. This translates to a combined engagement growth rate of 0.52% for Kucoin — which is higher than 22.86% of the cryptocurrencies we’re reporting on. This growth rate suggests its change in engagement is below average, at least on a percentage basis.
Article by SixJupiter
