Kaspa (KAS) and Internet Computer (ICP) Prices Pumping – Here’s Why

Kaspa (KAS) and Internet Computer (ICP) have been making waves with significant price movements. Let’s take a closer look at what’s been happening and the factors driving these price pumps.

Kaspa (KAS), currently priced at $0.15, has experienced a bullish trend following a period of retracement. After reaching a bottom at $0.11, the price started moving upward, breaking key resistance levels at $0.13 and $0.145. More recently, the price has reached the next significant resistance level at $0.157. Bulls are now facing the challenge of breaking this resistance to have a chance at reaching the previous all-time high.

According to “King Crypto” (@kingcrypto), an influential figure in the crypto community, projects like Kaspa present opportunities for investors. He highlighted that despite experiencing a 38% retest from its all-time high, investing in Kaspa at key support levels could yield a 62% gain when the price corrects back to its ATH. With the Kaspa team focusing on enabling token holders to use their tokens for everyday expenses, the potential for the price to establish new all-time highs remains high. Currently, Kaspa is already up 31%.

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Internet Computer (ICP)

Turning our attention to Internet Computer (ICP), which is currently priced at $13.5, the cryptocurrency has demonstrated strength by breaking above a crucial resistance level. The price closed with a notable green candlestick, indicating bullish momentum. Now that it has surpassed the $13.4 resistance, a successful retest is needed for the price to continue its upward trajectory.

altFINS, an analysis platform, has provided insights into the trade setup for Internet Computer. They identified an ascending triangle pattern, indicating a continuation of the uptrend. A breakout from this pattern could lead to a 30% upside potential, with the next target being $18. However, it’s important to note that the short-term momentum is bearish, as indicated by the MACD line and RSI.

Source: altFINS – Start using it today

MotokoMartin (@MotokoMartin), another prominent figure in the crypto space, highlighted the significance of Internet Computer (ICP) in the Web3 revolution. MotokoMartin emphasized several key reasons why ICP is poised to be a major player in the decentralized web. Firstly, ICP offers an alternative to the current centralized web infrastructure dominated by giants like Google and Amazon. By building and hosting websites and applications on a decentralized network, ICP contributes to a more open and censorship-resistant internet. Additionally, ICP’s core design aims for infinite scalability, enabling the network to process potentially unlimited transactions and store data as it expands. Lastly, ICP supports next-generation smart contracts that power decentralized applications such as DeFi and DAOs, positioning itself as a key player in the Web3 ecosystem.

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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.