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Kaspa (KAS) is currently displaying strong bullish momentum, with technical indicators and market trends hinting at a potential breakout. The asset has been gaining traction, increasing in value and drawing attention from analysts.
According to expert Altcoin Doctor, several factors, including Kaspa’s price movement, momentum indicators, and overall market sentiment, point to further upside potential. The broader altcoin market is also showing bullish signals, with liquidity inflows and market cap trends supporting continued growth. As Bitcoin dominance declines, analysts anticipate an upcoming altcoin season that could propel Kaspa’s next upward move.
Kaspa’s Price Movement and Bull Flag Pattern
At the time of writing, KAS is trading at approximately $0.1066. The token’s daily trading volume exceeds $59.55 million. Additionally, the price has risen by 4.21% in the past 24 hours and is up 11.47% over the last week, indicating strong market momentum.
Altcoin Doctor points out that Kaspa is forming a classic Bull Flag pattern—characterized by an initial strong upward movement followed by a consolidation phase before another breakout. This technical setup suggests that KAS could move higher, potentially aiming for the $1.00 mark.
The analyst explains that this pattern often results in an extended rally once the consolidation phase concludes. Furthermore, Kaspa’s Momentum Index is showing an oversold reading for the first time since the project’s inception, which is considered a strong buying opportunity, reinforcing the potential for further gains.
Additionally, the presence of a bullish divergence on the momentum chart further supports this outlook.
Broader market conditions also favor Kaspa’s continued rally. The Total 2 market cap chart, which tracks the value of all altcoins excluding Bitcoin, has been consolidating. The analyst notes that similar patterns in 2023 led to an altcoin season, and current signals suggest another breakout could occur before the end of the month.
Moreover, the overall crypto market cap is consolidating but may soon rise, potentially reaching around $4.8 to $5.2 trillion. This indicates that liquidity could soon flow into the market, benefiting altcoins like Kaspa.
USDT and Bitcoin Dominance Indicating an Altcoin Surge
The USDT dominance chart is another key metric analysts are monitoring. Historically, when USDT dominance declines, it signals that capital is shifting from stablecoins into altcoins, driving price increases.
Currently, the expert notes that USDT dominance is overbought and due for a reversal. This shift could spark a new wave of buying across the altcoin market.
Meanwhile, Bitcoin dominance is forming a double-top pattern, a bearish signal that suggests BTC’s market share may soon decline. Similar patterns were observed in 2017 and 2020–2021 before major altcoin rallies. If history repeats itself, this could mark the beginning of another strong altcoin season.
Kaspa remains in a strong bullish structure, with multiple”
Source: captainaltcoin.com