Concerns have emerged regarding the future of Kaspa (KAS), especially after the asset dropped below a critical support level near $0.14. This decline has caught the attention of several voices within the crypto space.
Mikro, a well-known analyst, voiced his worries about Kaspa’s recent market performance. He pointed out that despite the asset’s previous strength, the charts now suggest a potential downturn.
KAS/USDT Daily Chart Analysis
In his review of the KAS/USDT daily chart, Mikro highlighted that the asset had lost its support and resistance (S/R) region along with the point of control (POC).
Mikro also noted the formation of a bearish inverse Cup & Handle pattern, which suggests a short-term price decline could be imminent.
He estimated that this could lead to a drop of around 23%, bringing the price down from $1.30 to $1.00, where he anticipates the next strong support level.
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KAS/BTC Weekly Chart Analysis
Source: captainaltcoin.com