Kaspa Ready to Pump Again, but Bulls Must First Defend Key Price Level Following +4 Million KAS Sell-Off on Major Exchange
According to a tweet from “KASPA Enthusiast 𐤊” (@KASPAEnthusiast), Kaspa (KAS) is gearing up for another bullish run. The enthusiast expressed optimism, stating that “#kaspa is getting ready, after brief resistance, the 16 cents were broken through again $kas has recorded a strong rise in the last few hours.”
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Concern Over Large Kaspa Sell-Off
However, the excitement surrounding Kaspa’s potential upswing has been tempered by a significant sell-off on a major exchange. “Mr. Kaspa” (@KaspaGuru) expressed concern over the large dump, tweeting, “Why do people keep selling their $KAS in big chunks like this? There are better ways to off-ramp if you need to sell. 4 million #Kaspa just dumped on MEXC.”
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Show more +Technical Analysis and Crucial Support Level
A deeper look into the Kaspa chart reveals that the price has bounced off support at $0.14, followed by an engulfing candlestick yesterday. Today, the bulls will be looking to defend this crucial support level and push the price higher for a chance to break above the all-time high set in late February.
The Kaspa community seems divided, with some expressing bullish sentiment while others are concerned about the large sell-off. Nonetheless, the technical analysis suggests that the price has found support, and the bulls must defend this level to continue the upward momentum and potentially set new all-time highs.
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