Multiple Analyses Show Kaspa (KAS) Price Dip Isn’t Over: Analyst Anticipates Double-Digit Crash
There have been concerns about the future of Kaspa (KAS), particularly after the asset lost a critical support level at approximately $0.14. This decline has been noted by some figures in the crypto community.
Mikro, known for his analytical insights, expressed concern over Kaspa’s recent performance. He highlighted that, despite its previous strength in the market, the charts indicate a potential downturn.
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KAS/USDT Daily Chart Analysis
In his analysis of the KAS/USDT daily chart, he pointed out that the asset had lost its support and resistance (S/R) region, along with the point of control (POC).
Mikro noted the formation of a bearish inverse Cup & Handle pattern, suggesting that a short-term price decline could occur.
He estimated that this could lead to a drop of around 23% (based on his chart(, bringing the price down from $1.30 to $1.00, where he anticipates the next strong support level.
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KAS/BTC Weekly Chart Analysis
Mikro’s analysis continued with the KAS/BTC weekly chart, where he observed a broken trendline that has been in place since the asset’s inception.
He mentioned that the Supertrend indicator recently flashed a “SELL” signal for the first time, reinforcing his belief in the likelihood of further short-term downside. He marked a potential reversal area on the chart but maintained a cautious outlook.
KAS/ETH Weekly Chart Analysis
In his examination of the KAS/ETH weekly chart, Mikro acknowledged that while Ethereum’s performance has been lackluster, Kaspa’s chart still indicated a high timeframe lower high, which could suggest a trend reversal.
Despite this, he pointed out potential areas for a turnaround, hoping for no further declines.
KAS/SOL Weekly Chart Analysis
Mikro’s final thoughts on the KAS/SOL weekly chart revealed that this chart appeared the most bearish.
He noted that a trendline had been broken months ago, and although a significant support confluence might halt the decline, the uncertainty remained about where the price would stabilize.
In summary, Mikro conveyed a clear message that short-term downside for KAS seems probable. He expressed hope as a holder but emphasized that market movements are often unpredictable.
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Some Investors Remain Confident About Long Term Strength
In contrast, Travladd Crypto expressed optimism about KAS, asserting its technological superiority over other cryptocurrencies released in the past eight years.
He reminded followers not to be swayed by the current price fluctuations, highlighting that the largest global Bitcoin miner also mines KAS, which he sees as a positive sign for the asset’s future.
Adding to the optimistic tone, Kasfinex noted that KAS is the first Layer 1 blockchain to fully address the trilemma of scalability, security, and decentralization without relying on multichains, sharding, or Layer 2 solutions.
He emphasized that the protocol’s limitations are now only dependent on the network’s speed, suggesting a potentially bright future for Kaspa.
Overall, while analysts like Mikro foresee a challenging period ahead for KAS, voices like Travladd and Kasfinex provide a counterbalance of hope, seeing the current turbulence as temporal.
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