Kaspa Price Building To Skyrocket To Higher Levels: What’s Next?

• Kaspa crypto had a huge inflation rate of 20.36% at press time.
• In the last 30 days, the KAS price has been traded in green for 12 days.

The Kaspa (KAS) crypto gave huge returns of more than 385% to its investors in the last 1 year. Kaspa price outperformed 89% of the top 100 crypto assets, followed by Bitcoin and Ethereum.

The coin’s market cap has been trading flat over the last 24 hours from press time. It resulted in a slight increase of 1.05%.

The token’s market cap was further valued at $4.11B, making it the 22nd largest cryptocurrency in the global crypto market. Its market cap dominance was 0.20%, representing its strong market presence in the global crypto market.

The crypto’s volume traded value advanced by 20% in the last 24 hours, resulting in a traded value of $64.583M. This was just 1.58% of its market cap, showing lower liquidity in the coin’s price.

The Kaspa coin’s price advanced by 98000% from its all-time low price of $0.0001699, formed two years ago. Additionally, the token’s price traded close to its all-time high price and was down by only 19% from its ATH.

What Does Derivatives Indicate About Kaspa Coin Price?

Kaspa crypto witnessed a surge of 29% in its derivatives traded volume, resulting in a traded value of $43.10M. This showed a rise in coin demand over the last 24 hours.

The liquidation activity in the Kaspa token further declined recently. It was followed by a long liquidation worth $12.28K in the last 24 hours.

The open interest further traded flat, resulting in a value of $68.13M. That showed no significant change in the number of coin’s open positions. Also, the value of the short liquidated over the last 24 hours was $1.67K. It indicated sellers’ dominance in price.

KAS Coin Price Trades Close To All-Time Highs, What’s Next?

The KAS price followed a strong uptrend and a higher high swing on the daily chart. The coin’s price has also consistently advanced over the last few months.

The token’s price traded inside a rising wedge pattern. It was formed by the rising behavior of the coin’s price over the last few months.

At press time, the KAS price took support at the lower band of the rising wedge pattern. Following this, the price sustained the lower levels and consolidated in a small dynamic range.

Suppose the token price breaks above the current consolidation zone. It might lead to the highs of the rising wedge pattern.

Let’s Take A Look At The KAS Coin’s Technical Indicators

At press time, the 50-day and the 200-day EMAs traded in a golden cross. In contrast, the price was struggling at the 50-day EMA to break to higher levels.

The Kaspa crypto price has traded below the Average True Range, leading to the bearish signal in Supertrend.

KAS/USD Chart by TradingView.com

The MACD indicator exhibited volatile behavior as the MACD and the signal line traded in a negative trajectory. Despite this, the following metrics traded in a bullish cross, exhibiting volatile behavior in the token’s price.

The RSI indicator exhibited volatile behavior as its value consistently traded around the 50 level. Furthermore, the RSI overlapped the 14-day SMA.

The KAS price might take support at $0.10 and $0.120, followed by the resistance levels of $0.20 and $0.30.

Disclaimer

This article is for informational purposes only and does not provide any 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.