Analyst Says Mixed Outlook for Kaspa (KAS) After Successful Breakout Prediction

Crypto trader SiamKidd accurately predicted a breakout for blockchain project Kaspa (KAS) two weeks ago, with the price rising as expected. However, his outlook is now unclear as to where KAS is headed next.

On November 7th, SiamKidd forecasted a breakout for KAS over the following two weeks. This analysis proved correct, as KAS gained over 25% during that period. This showcases SiamKidd’s technical analysis skills in spotting high-probability price moves.

However, when asked about KAS’s future direction, SiamKidd admitted, “sometimes you get crystal clear clarity of a move in advance, but sometimes, like now, there are too many conflicting possibilities.” He is adopting a patient, observe-and-wait approach during this uncertainty.

While SiamKidd remains unsure of KAS’s near-term direction, long-term fundamentals may be strengthening. According to a Kaspa Enthusiast tweet, a major Swiss finance website called “Finanzen und Wirtschaft” published an article discussing Kaspa’s revolutionary technology. The author even stated Kaspa could “take on the credit and banking system” if it achieves its goals.

This shows Kaspa is increasingly gaining legitimacy and closing the credibility gap typically faced by smaller-cap crypto assets. As real-world awareness and adoption increase, it could provide fundamental support for KAS’s price.

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In summary, while conflicting technical analysis makes KAS’s near-term direction unclear, SiamKidd’s proven track record and Kaspa’s strengthening fundamentals provide reasons to remain confident over a longer-term investment horizon. KAS has room left to run as Kaspa continues to make progress towards mass adoption.

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Temitope Olatunji
Temitope Olatunji

Temitope is a seasoned writer with over four years of experience. He specializes in Web3 and FinTech topics and enjoys creating content in these areas. He holds both a bachelor's and master's degree in Linguistics. When not writing, he trades forex and plays video games.