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The value of Kaspa has been on a downward trend for several weeks, experiencing a nearly 30% drop over the past month. Known for its volatility, Kaspa has not performed impressively throughout 2024. As 2025 begins, the token continues to struggle, prompting discussions about whether it is time to sell KAS holdings.
To provide insight into this situation, a crypto analyst from the Money and I YouTube channel shares his perspective on the current trajectory of KAS.
In his latest video, the analyst examines the broader market conditions, highlighting Bitcoin’s dominance at 60% and its strong support level around $91,000. He notes the heightened volatility in the market, which has significantly impacted altcoins. Kaspa, in particular, has broken through its previous support level of $0.10, dropping to as low as $0.07—a price not seen since November 2023.
Strategic Considerations Amid the KAS Downtrend
The content creator underscores the importance of having strong conviction when investing in cryptocurrencies. He cautions against impulsively buying dips and stresses the necessity of conducting basic technical analysis. His primary advice for Kaspa investors is to proceed with caution.
While he remains optimistic about Kaspa’s long-term potential and anticipates significant growth in this market cycle, he advises waiting for clearer market signals before making any immediate purchases.
At the time of the video, Kaspa was trading around $0.108. The analyst suggests that if the market does not recover, the $0.10 level could turn into a resistance zone. His personal approach? Exercise patience and avoid making purchases at the current price point to minimize potential losses.
Read Also: Here’s Why ONDO’s Price is Up Today
The key takeaway from the video is the importance of patience and strategic decision-making. While the analyst remains bullish on Kaspa’s long-term outlook, he advises investors to be cautious in the short term. There is a possibility of further declines to the $0.07-$0.08 range, making timing a crucial factor.
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Source: captainaltcoin.com