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- The Kaspa price has increased by 74% since May and traded near its all-time high.
- KAS token’s trading volume has dropped by 67% in the past 24 hours.
The technical chart displayed that the KAS price has been bullish and rose by generating higher highs and higher lows. The price has recorded an all-time high (ATH) of 0.197 on June 30.
Since May, the digital asset price has climbed by taking support on a trendline and reached near the major resistance level. Historically, the KAS price has faced resistance three times from the $0.2000 territory. It has now reached that zone.
For the past few months, the price has managed to defend the last swing low and has sustained the 20-day EMA. Besides these, the RSI hasn’t respected the swing highs and has shown weakness.
At press time, the Kaspa crypto traded at $0.194 with an intraday gain of 2.82%. The market capitalization was $4.71 Billion, and the 24-hour trading volume was $50.05 Million. The Kaspa has diluted its 100% of coins in the cryptocurrency market.
Can We Get KAS Crypto at More Discounted Rates?
Based on a source on X, the Kaspa crypto price is expected to experience profit booking in the concise term. The crypto asset price may face resistance from the major resistance line.
Best pre breakout chart setup in crypto right now? $KAS . Target near .25 ish . Rt if you bullish on $KAS ! pic.twitter.com/wbNRfXUeRB
— Cameron Fous (@Cameronfous) July 29, 2024
After the pullback, the Kaspa price may take support on the trendline and perform positively. If the price succeeds in triggering a pullback, the price may record a new all-time high.
KAS Price Shaped an Ascending Triangle Pattern
The Kaspa price has formed an ascending triangle in the daily time frame. It was at the crucial level of breakout at the time of writing. It has reached the major resistance level for the fourth time, and profit booking is anticipated.
Buyers may panic if the digital asset price starts trading below the trendline. The panic selling may lead to a strong bearish trend, and the price may melt to the $0.1200 mark in the next few weeks.
On the other hand, buyers may get confident if the Kaspa price overcomes the $0.2000 territory and the trading volume increases at the breakout. A successful breakout may result in solid buying pressure, and the price may keep rising in the long term.
According to the technical indicators, the Kaspa price was trading over the key moving averages at press time. When writing, MACD generated a golden crossover with the signal line and stayed over the zero line. In general, the technical indicators are in favor of bullish forecasts.
Would the KAS Price Trigger a Breakout or Downtrend Awaits?
Based on the chart structure, the KAS crypto price was at a crucial point at the time of writing. There were indications of a potential profit booking in the short term, and the price might face resistance at the major resistance line.
However, if the price triggers a pullback and breaks above the $0.2000 territory with increased trading volume, it could lead to a new all-time high. The formation of an ascending triangle pattern and the position of the key moving averages signal the possibility of both bearish and bullish scenarios.
Technical Levels
The bullish trend in Kaspa crypto may halt near the $0.2000 mark and an imaginary level of $0.2400. The price may take support on the $0.1550 and $0.1350 levels.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
