Kaspa (KAS) Nears Critical Breakout Point – Watch for Confirmations
Kaspa (KAS) is showing signs of a potential upward price movement, despite recent market volatility that has tested the resilience of many altcoins. According to insights shared by an analyst known as the **Dark Horseman** on X, Kaspa might be on the verge of a significant rally, but traders are advised to look for one more key confirmation signal before committing fully.
Technical Indicators Suggest Optimism
Kaspa has not only maintained but strongly defended the $0.05 support level, a testament to its resilience which has not gone unnoticed. The **Dark Horseman** remarked, “Kaspa has ‘definitely proved it’s worthy of the hype,’” underscoring the importance of this support zone in the recent market swings.
The technical analysis currently portrays a mixed bag of signals with a predominantly bullish slant. While the daily Stochastic RSI hints at an overbought condition, potentially foreshadowing a minor pullback, the weekly chart reveals a different story. Here, the Stochastic RSI is showing strong bullish momentum, suggesting an impending recovery. This divergence between daily and weekly timeframes is often a precursor to noteworthy price movements.
Breaking Through Resistance: The Next Big Step
KAS recently crossed above the 50-day Exponential Moving Average (EMA), previously a strong resistance, now acting as support. This move is a potent indicator in technical analysis, often signaling a shift in trend direction.
However, the **Dark Horseman** points out that one final piece of the puzzle is yet to fall into place for Kaspa. He emphasizes that a “clean break above the $0.08 resistance is crucial.” Here’s a closer look at the key price levels to watch:
- **Support**: $0.053 – demonstrating resilience despite repeats tests.
- **Resistance**: $0.0802 – immediate hurdle that needs to be overcome.
- **Significant Resistance**: $0.1099 – aligning with historical highs and the Volume Profile Point of Control (VP-POC).
- **Long-term Target**: $0.179 – near the peak seen in late 2024.
If Kaspa manages to push past the $0.08 barrier, it could “‘really open the doors for further upside’” according to the **Dark Horseman**. Such a move would signal the first higher high since mid-February, a clear sign of trend reversal.
Final Thoughts
The analysis from the **Dark Horseman** suggests that while Kaspa is looking increasingly bullish, cautious traders should wait for that conclusive signal. The crypto market’s volatility means that vigilance is key, and sudden changes can occur.
Stay informed with daily updates by following us on X (Twitter), CoinMarketCap, and Binance Square. Join our FREE Telegram group for all future market calls.
Explore eToro Now
Active user community with social features – engage via news feeds and specific coin chats.
Diverse asset offering: cryptocurrencies, stocks, ETFs, and more.
Copy trading options for free, follow and mimic successful traders.
Intuitive platform design for easy navigation on web and mobile.
The post Kaspa (KAS) Nears Critical Breakout Point – Watch for Confirmations appeared first on CaptainAltcoin.
Source: captainaltcoin.com