Kaspa (KAS) Price on the Brink! Slow Bleed to $0.07: Can this Major Upgrade Save It or Will It Dump Further?
Kaspa has been facing strong selling pressure, with the price declining over 12% in the past day. At writing, KAS price sits at $0.07289, with trading volume down 22%, indicating reduced market activity. This downward momentum has raised concerns among traders as the price approaches the key $0.07 support level. Meanwhile, an upcoming Kaspa network upgrade (TN10) has sparked discussions about its potential impact on the market.
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Kaspa Faces Key Support Test as Selling Pressure Increases
The KAS chart on the 4H timeframe shows a persistent downtrend since early February. The price has failed to recover above $0.10, a level that previously acted as strong resistance. With the 9-day exponential moving average (EMA) positioned above the current price, bearish sentiment dominates the market.
Crypto analyst Titan pointed out concerns regarding the latest retest of the $0.07 level. The last time Kaspa hit this price point, it saw an immediate rebound. However, the current decline has been gradual, increasing the probability of a breakdown. According to the analysis, a breach below $0.07 could send Kaspa’s price down to the next major support at $0.05.
TN10 Upgrade Set to Boost Kaspa’s Transaction Speed
While the price struggles, the upcoming TN10 upgrade could change the network’s landscape. Elite analyst Crypto Proselyte revealed that the Crescendo Hard Fork, scheduled for March 4, 2025, will increase Kaspa’s block speed to 10 blocks per second, making it 10 times faster than its current processing rate. This update aims to improve scalability, with developers working on pruning optimizations to enhance efficiency.
The Kaspa team is consulting the community to finalize the upgrade date, considering either March 6 or March 8, 2025, for the full rollout. This decision is crucial for node operators who need to update their systems accordingly.
Read Also: Why the Crypto Market Is Crashing: BTC, XRP, SOL, and More Under Pressure
Binance’s Kaspa Mining Rewards Distribution Could Influence Market Sentiment
Adding to the market anticipation, Binance will distribute Kaspa mining rewards on March 6. The alignment of this event with the TN10 upgrade could attract more attention to the network. However, the market’s response remains uncertain as traders weigh the impact of the fundamental improvements against current bearish conditions.
Market participants are now monitoring whether KAS price can hold the $0.07 support or continue its decline toward $0.05. The upcoming upgrade and Binance’s mining distribution could provide a much-needed catalyst, but for now, bearish sentiment remains strong.
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