Here’s Why This Top Crypto Analyst Believes Kaspa (KAS) Will “Go Up Only”: Key Metrics Explained
Crypto analyst, ParabolicPump, has issued a bullish outlook for the Kaspa (KAS) cryptocurrency, predicting a significant price surge after an extended period of sideways trading. According to the analyst, the current levels present an excellent buying opportunity for investors seeking exposure to an altcoin with substantial upside potential during the upcoming bull run.
What you'll learn 👉
Accumulation Phase Nearing Completion
ParabolicPump asserts that the time is running out to accumulate KAS at these discounted prices. The analyst cites the breakout of a trendline as a potential catalyst for the next upward movement, suggesting that KAS will “once again go UP ONLY!” after this event.
Significantly, ParabolicPump notes that whenever KAS has reached similar levels on the Relative Strength Index (RSI) in the past, a substantial price pump followed shortly after. Additionally, the analyst emphasizes that closing a weekly candle at the current price level would form a bullish engulfing candle, further reinforcing the belief that the bottom has been established.
Opportunity for Substantial Gains
ParabolicPump believes that many investors will miss this buying opportunity and subsequently experience FOMO (Fear of Missing Out), leading them to purchase KAS at much higher levels. Consequently, the analyst advises taking advantage of the current situation, as KAS is trading at its lowest RSI level since June 2023. Moreover, the risk-to-reward ratio for buying KAS at the current price is described as highly favorable.
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According to ParabolicPump, if investors are seeking an altcoin with the potential for a safe 10-20x return or even higher during the bull run, buying KAS at current levels is a “great idea.” However, the analyst cautions that patience is crucial, as the next parabolic pump for KAS is imminent after an extended sideways period.
ParabolicPump firmly believes that Kaspa (KAS) holders will be massively rewarded in the upcoming months. The analyst recommends either buying or holding KAS at the current levels, dismissing the idea of selling as “giving up at the worst possible time.” With a bullish setup in place, ParabolicPump looks forward to the best yet to come for KAS.
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