Kaspa’s been moving back and forth between $0.14 and $0.17, and people watching the market think it might make a big move soon.
Prominent analyst King Crypto shared some insights on X about Kaspa, saying the charts point to what could be a breakout. He thinks it might push past previous records into new territory. As Kaspa’s price continues to follow its 20-day moving average (MA), traders are awaiting a breakout beyond current resistance levels.
What you'll learn 👉
KAS Technical Analysis
The price of Kaspa has been bouncing between $0.14 and $0.17 for a while now. Looking at the charts and what King Crypto mentioned, this kind of sideways movement often means people are quietly buying in. Traders seem to be getting ready for something bigger while the price stays in this range. When prices move sideways like this for a long time, it’s often the calm before a strong upward push.
According to the chart analysis, Kaspa’s price has been respecting key support levels around $0.142253, with repeated bounces off this area. This level has become a critical support zone, indicating that buyers are actively defending it. A decisive move above the $0.176028 resistance level could unlock further upside potential, pushing the price into uncharted territory.
Looking at the chart, we can see Kaspa’s price staying higher than its 20-day moving average, which keeps supporting it during this quiet period. This tells us buyers are still interested. The 50-day moving average is starting to level out, and it might catch the price if it drops a bit.
King Crypto’s tweet highlights that this consistent movement above the 20 MA could lead to a breakout. As the 20 MA continues to guide price action upwards, the expectation for Kaspa’s price to challenge the $0.176028 resistance becomes more pronounced. If this resistance breaks, the cryptocurrency could initiate a phase of price discovery.
Key Resistance and Market Sentiment
Although the outlook remains bullish, Kaspa faces a critical resistance point at $0.176028. This area has previously been a barrier for price movement, where selling pressure has emerged. Looking at the chart, Kaspa might hit a new high if it breaks through this tough price point. It could start moving into territory we haven’t seen before.
As King Crypto pointed out, we shouldn’t get too caught up in day-to-day prices. The chart backs this up – it’s better to look at the bigger picture of where this could go. With the MACD indicator showing increasing bullish momentum, Kaspa’s prospects are optimistic, provided the resistance is overcome.
Price Discovery and Long-Term Potential
King Crypto suggests that Kaspa is not just aiming for a new ATH but could enter a period of full price discovery. This means that Kaspa’s price may move beyond the previous highs, driven by increased buying interest and market optimism. The chart’s technical indicators, combined with the bullish sentiment in the tweet, support this view.
Right now, Kaspa’s been moving sideways for a while, but that might be about to change. Everyone’s watching to see if it can push past these high prices and keep going up. The next few price moves will tell us if Kaspa’s ready for that big upward trend that many crypto folks are expecting.
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