Kaspa (KAS) has broken out, reaching $0.204-$0.205 on some exchanges. This is noted by Crypto MindSet’s YouTube analysis where they emphasize the importance of the daily candle body closing above key levels at $0.195 and $0.202.
Notably, Crypto MindSet suggests Kaspa could see substantial gains if the breakout is confirmed with strong volume. Besides, this breakout point is crucial, as it represents the area where liquidity and sellers are concentrated.
Related: Kaspa Poised for All-Time High: KAS Analyst Forecasts $0.4 Price Target in 30 Days
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Kaspa Price Analysis
The video highlights various critical levels with a recent focus on $0.194-$0.195. If Kaspa breaks above these points, it could trigger a short squeeze, forcing short sellers to cover their positions and potentially driving the price higher.
According to Crypto MindSet, a confirmed breakout could see Kaspa moving to $0.21 or $0.22, with a possibility of reaching $0.40 soon.
The analyst notes that volume analysis is essential for confirming breakouts, but it is challenging without the daily candle print. Real-time candle analysis helps predict short-term movements and potential melt-ups.
High volume is crucial to validate the breakout and sustain upward momentum. The host emphasizes, “Kaspa is breaking out, reaching $0.204-$0.205 on some exchanges. This is major. If Kaspa prints higher, we should get a melt-up and a big short squeeze.”
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Show more +Read also: Here’s When Bitcoin (BTC) Might Hit a New ATH
KAS Price Prediction
The formation of a C and handle pattern on the BTC pair indicates a potential for a substantial upward move. Key levels to watch include 33,000 and 36,000 Satoshis, which are critical for determining the strength and validity of the breakout.
Comparing Kaspa to other assets, the video suggests that Kaspa has surpassed ICP in market performance. The host notes, “Oh look at that it flipped ICP rubbish ICP bye-bye…”
Moreover, the speaker predicts, “If we get a confirmed breakout, Kaspa can flip other major coins and even hit $0.60.”
The video references past successful trades and breakouts, demonstrating a history of strategic buying at breakouts and selling at peaks.
The strategy includes buying during confirmed breakouts, stacking sell orders, and taking profits during pumps while maintaining a core position.
This approach has proven effective in maximizing gains and managing risks. Crypto MindSet’s speaker advises, “Always have a plan and strategy; don’t just buy and hold. Your target is $0.40 if the breakout is confirmed with volume.”
Current Status and Market Comparisons
Per data from CoinGecko at press time, KAS trades at $0.20, with a daily trading volume of $127,421,758. This is a 4.68% rise in the last day and a 12.05% rise over the past week.
As Crypto MindSet’s speaker concludes, “If Kaspa can move to $0.21 or $0.22, you’re going to get a short squeeze that can be very, very big.”
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