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Top crypto analyst Crypto ₿ULL God has shared a positive outlook for Kaspa (KAS) despite its year-long distributive phase. Through X, the analyst provided a detailed forecast, discussing signals that could confirm a potential accumulation phase and a renewed price surge in 2025.
According to Crypto ₿ULL God, key chart patterns and broader crypto market trends could propel Kaspa into the top 10 by market cap.
Volume and Price Action Indications
Crypto ₿ULL God noted that Kaspa’s one-year distributive phase might signal a transition into accumulation if specific indicators align. Central to this outlook is a focus on volume patterns; lower volume during markdown stages paired with heightened activity during rallies may signal a shift from weak to strong hands.
Regarding #Kaspa Price Action
[1/5]It’s very evident at this point that $KAS has been in a distributive formation for ~ 1 year.
So what does this mean for price moving forward?
Let’s dive in
[If you appreciate the free educational content, a simple “retweet” would be… pic.twitter.com/mL4bmSZ8WU
— Crypto ₿ULL God, FSA, MAAA (@CryptoBullGod) October 29, 2024
Additionally, the emergence of higher lows and higher highs in Kaspa’s price trajectory would indicate progressive buying interest at elevated levels, a typical sign of market strengthening.
The analyst emphasizes the importance of observing these patterns to identify accumulation, as they reveal buyer confidence. As buyers continue to enter at higher prices, the Kaspa market could demonstrate stability and potential upward movement.
Key Support Levels and Market Position
Another focus in Crypto ₿ULL God’s analysis is Kaspa’s resilience around its current support region of $0.09 to $0.10. This zone is essential, as holding this range on the daily close could maintain a stable base for future rallies. According to the analyst, only a consistent break below this support level on a daily candle close basis would raise concerns.
This support level’s relevance is also enhanced by the current bullish sentiment in the broader crypto market. The analyst predicts an expansive bull run in 2025, which could provide the liquidity needed to support and amplify Kaspa’s upward trajectory.
Signs of Institutional Interest and Market Strength
To gauge institutional interest, Crypto ₿ULL God pointed to volume clusters in particular price ranges. Concentrated buying in these clusters could indicate institutional or centralized exchange accumulation, providing a solid foundation for sustained growth.
Additionally, the analyst highlighted the role of support and resistance zones, as breakthroughs in resistance could signal increasing demand and”
Source: captainaltcoin.com