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.”

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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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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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.