“Kaspa Faces Challenges in Catching Up to Cardano, Solana, and Leading Altcoins – Here’s Why”

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The KAS price experienced a slight increase of 2.5% this week, pushing Kaspa above the $0.17 threshold.

While the broader market showed signs of recovery from earlier downturns, Kaspa’s performance deviated from the general trend, a recurring pattern observed throughout this bull run.

YouTuber “Crypto ZX” shared his latest outlook on Kaspa in a recent video. He noted that Bitcoin’s rising dominance has contributed to Kaspa’s price decline, as funds often shift from altcoins to Bitcoin during such periods.

Since early August, Kaspa has faced challenges in breaking through a significant resistance level at $0.173, despite multiple attempts. A successful breakout above this level could potentially lead to substantial price movement.

Technical Analysis and Market Trends

Kaspa briefly surpassed its key resistance level (around $0.17) but was unable to sustain the momentum, leading to a pullback. However, the previous resistance level now seems to be acting as support, which could be a positive indicator for future price movements.

The overall trend for Kaspa remains upward on both daily and weekly charts. The technical setup is considered strong, with potential for further gains if key resistance levels are breached.

There is speculation that Kaspa’s absence from many centralized exchanges might be due to its smart contracts not being launched yet. Although Kraken has included Kaspa in its roadmap, no official listing has occurred so far.

Crypto ZX advises against directly comparing Kaspa to major projects like Solana, Ethereum, or Cardano. He emphasizes that while Kaspa shows potential, it still lacks the widespread utility and adoption of these larger networks.

Established projects like Ethereum, Solana, and Cardano have built utility and large communities over the years, with extensive ecosystems, many developers, applications, and active users. For example, Ethereum is a leading platform for decentralized applications (dApps), smart contracts, and DeFi, while Solana is known for its high throughput and low transaction costs.