Kaspa Fundamentals Remain Positive Despite Challenging Price Action; KAS Bullish Surge Poised to Continue Following This Breakout
Key Support Level for Potential Breakout Cryptocurrency analyst Omeich XII recently posted a chart for KAS, the native token of blockchain project Kaspa, noting a key support level at $0.12. According to Omeich, if KAS can break the current downtrend and overcome the resistance at $0.12, the price could surge upwards by 100% to $0.22. This call comes during a period of consolidation for KAS after impressive gains for most of 2023.
Strong Community Engagement
Further evidence that Kaspa maintains strong fundamentals comes from Kaspa Army, a community supporter. They highlighted a recent post from lead Kaspa developer Michael Sutton that garnered 222,000 impressions in one day. The post covered details on the upcoming switch to 10 billion transactions per second (TPS), showing significant interest around Kaspa development despite recent sideways price action.
Upcoming Performance Improvements
The move to 10 TPS cannot come soon enough, as noted by another post from Kaspa Insider. They explained that while Kaspa currently processes 1 TPS, the planned network upgrades will enable much faster speeds and functionality sooner than expected.
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Show more +This renewed focus on major development milestones aligns with analyst Omeich’s bullish outlook. As Kaspa delivers on its roadmap and awareness spreads, the likelihood of a major price breakout only increases.
Quoting Omeich: “When $KAS Breaks This DownTrend we are Going Directly to 0.22$”
With strong community loyalty, consistent developer updates, and ambitious plans for network scaling, Kaspa shows promising signs amidst its price consolidation. As analysts like Omeich watch closely for a bounce off the crucial $0.12 support, a surge back towards $0.22 does not seem unrealistic. For those keeping tabs on Kaspa as a emerging blockchain project, its present dormancy could provide an opportune moment to buy ahead of the next major advance.
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