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Are KuCoin Shares overvalued after KCS price gains 100% in one month?

Published 07/07/2021, 11:39 AM
Updated 07/07/2021, 01:20 PM
Are KuCoin Shares overvalued after KCS price gains 100% in one month?

KuCoin (KCS) prices ticked up in the early Wednesday session on July 7, in part because of an ongoing market rally across the top exchange-based utility tokens.

The 72nd-largest cryptocurrency peaked for the day at $14.847 before correcting lower on interim profit-taking sentiment. The move downside accompanied decent volumes, alerting that the sell-off momentum could continue across the European and the U.S. sessions.

The selling sentiment appeared higher around $15, a concrete resistance level from the April-May session. Source: TradingView
KuCoin Falling wedge setup. Source: TradingView.com
Exchange tokens rally in tandem, except SUSHI. Source: Messari
KuCoin Shares VORTECS™ Score (green) vs. KCS price (white). Source: Cointelegraph Markets Pro

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