Kaspa (KAS) has achieved a notable feat by reaching a new all-time high. The asset hit a peak of nearly 21 cents before it saw a minor pullback.
According to a YouTube video by Crypto Zx, this surge comes given the broader market’s downturn triggered by Bitcoin’s price dip.
Despite the market turbulence, Kaspa has been resilient. The crypto posted a 3% gain over the past day, while many other assets struggled. On a weekly scale, KAS has surged by 14.1%, outperforming most of its peers.
Kaspa Price Analysis
Crypto Zx notes that Kaspa’s performance has put it in “price discovery mode,” making precise predictions challenging. However, the asset’s chart shows a clear pattern of highs and lows, indicating a strong upward trend.
The crypto’s support levels have remained solid despite the market shake-up. Notably, Kaspa’s trading volume has reached around $161.5 million in the past day.
Moreover, this volume is particularly notable considering that KAS is not yet listed on major centralized exchanges. The high trading activity suggests growing investor interest and confidence in the project.
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Bitcoin’s Influence on Kaspa
While Kaspa has shown strength, its price movement still correlates with Bitcoin’s performance. The recent 10% drop in Bitcoin’s value affected the broader crypto market, including Kaspa. However, KAS managed to recover quickly, demonstrating its resilience.
Crypto analyst Crypto ZX emphasized the importance of monitoring
Source: captainaltcoin.com