Kaspa token may be facing a potential price correction, according to an analysis by market expert Alan Santana. Concerns have emerged that the asset’s current price of $0.162 could soon experience a decline, based on historical trends and technical indicators.
In his analysis, Alan Santana shared a cautious outlook on Kaspa (KAS) and its price movements. He noted that Kaspa could undergo a correction of up to 46.91%, potentially leading to a prolonged bearish phase. This would bring the price of Kaspa down to the $0.086 range.
Kaspa Chart Analysis
Alan Santana’s analysis points to two previous corrections in Kaspa’s price action, both of which lasted for significant periods. One correction lasted 65 days, while the other extended over 71 days.
These past trends are now being used to forecast future movements, with the possibility of a similar correction lasting between 60 and 80 days.
According to this timeline, the correction could conclude between early and late October, with potential bottom dates around October 5 to October 11. While these projections may not be exact, they offer a roadmap for traders to anticipate the ongoing market movements.
Source: captainaltcoin.com