Kaspa Hangs in the Balance at Crucial Support, Can KAS Bulls Break This Barrier to Resume Uptrend?

According to noted cryptocurrency analyst CryptOG (@realhus2), the price of Kaspa (KAS) is hovering right around a critical support level that could determine its next major move. In a recent post, CryptOG shared a chart showing KAS testing support around the $0.16 level after a period of retracement from its local highs.

As CryptOG explained, “I’m watching closely for the KAS candle close to see if it holds above this key support line or if we may see a bearish continuation downward toward the next major support zone.” He sees the $0.16 level as an important line in the sand for KAS bulls. A daily close below this support risks opening the doors for a more significant decline.

Celebrate Dogecoin and Make Big Gains with Doge2014!

Doge2014 raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!

Show more +

On the other hand, if KAS can maintain its ground above $0.16, CryptOG expects to see the token reclaim the $0.17 level shortly thereafter, before embarking on its next leg up. He pointed out that he recently began building a position around the $0.158-0.161 zone in anticipation of this retracement and support test.

So in short, CryptOG and likely many other KAS investors are on close watch this week to see if the token can hold above its critical support just above $0.16. How this level holds could set the tone for the next major trend in KAS price action.

You may also be interested in:

We recommend eToro

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more
Active user community and social features like news feeds, chats for specific coins available for trading.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

Tags:

Rene Peters
Rene Peters

Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development. After his training as an accountant, he studied diplomacy and economics and held various positions in one of the management consultancies and in couple of digital marketing agencies. He is particularly interested in the long-term implications of blockchain technology for politics, society and the economy.

CaptainAltcoin
Logo