Crypto analyst Mikro observes Kaspa (KAS) coiling up for its next strategic move. Following an intense rally, Kaspa found support within Mikro’s identified zone, prompting a rebound.
Mikro notes the resilience of Kaspa as it hit the support area outlined by the analyst, marking a crucial point where the cryptocurrency initiated a bounce-back. This support zone becomes a pivotal factor in shaping the token’s trajectory.
Symmetrical Triangle Emerges
A noteworthy development in the Kaspa chart is the formation of a symmetrical triangle. This technical pattern, often indicative of market indecision, has the potential to act as a launching pad for the next significant move.
Mikro tantalizingly hints at the prospect of Kaspa making a substantial move, projecting a potential surge towards $0.2 if the symmetrical triangle breaks out to the upside. This breakout scenario presents an intriguing opportunity for traders and investors monitoring Kaspa’s price action.
Read also:
- Ripple (XRP) Needs to Exhibit These Three Moves to Go Parabolic: Analyst
- How is Tether (USDT) Preparing for The Biggest Bull Run in History
- Missed Out On Pepe? This Could Be The Next 10x Meme Coin After ICO Hits $600k
In summary, Mikro’s analysis offers a snapshot of Kaspa’s current chart dynamics, emphasizing the significance of the support bounce and the emergence of a symmetrical triangle—a precursor to a potential substantial move, setting the stage for the crypto’s next chapter.
We recommend eToro
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.
