Kucoin under regulatory pressure, can shorting yield more gains

📆 3/11/2023 7:33 AM
📰 CryptoAmb

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Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion The New York attorney general filed a lawsuit against Kucoin. Kucoin’s price action broke below key support after the news of the lawsuit. Kucoin exchange’s native token, Kucoin [KCS], could face increased selling pressure […]

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinionKucoin’s price action broke below key support after the news of the lawsuit., could face increased selling pressure amidst the current lawsuit. New York’s attorney general, Letitia James, has shifted focus to the exchange as part of her spirited crackdown on unregistered cryptocurrency platforms.

Bears could be presented with two possible trade outcomes. First, shorting the token with a target of $7.841 and a stop loss above $8.123.

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