Kaspa (KAS) Price Outlook: What’s Next After Recent Decline?
Kaspa (KAS) has seen its price decline around 5% over the past week, with the token currently trading around $0.045. This drop has led traders and investors to ponder what’s next for the cryptocurrency in the near-term.
Despite the recent pullback, Kaspa bulls appear to be maintaining a positive sentiment. The token price has bounced nicely off support levels, retesting resistance around $0.05. This is an impressive move given the overall weakness in crypto markets amidst macroeconomic headwinds.
Source: CoinStats – Start using it today
Breaking above the 20-day moving average, which sits just above $0.05, would be a bullish technical sign for KAS. It would indicate strong buying interest and open the door for further upside. Volume remains relatively low at the moment compared to previous trading activity. However, some analysts believe this could change soon.
As one Kaspa bull on Twitter noted, “KAS is exceptional and will be the best performing cryptocurrency in the bull run as it already is in the bear market. Volume is currently very low despite the approx 5% increase. There will be more to come…”
The analyst believes Kaspa’s strong technology and use cases position it well to see significant gains during the next full-blown crypto market rally. With volume potentially poised to accelerate, the coming weeks and months could see major upside for KAS if bullish momentum returns to the overall cryptocurrency market.
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