Memes continue to dominate the cryptocurrency landscape, while utility-driven coins, particularly those that have seen significant gains in the past, are struggling to keep up. One such coin is Kaspa (KAS).
Recently, Kaspa’s price movement has been sluggish, with the coin dropping by 3.5% today. Below are three reasons why KAS holders might be feeling uneasy as we near the end of the year.
Lackluster Price Movement
Kaspa’s price has been moving sideways for several months. After hitting an all-time high of approximately $0.2 in August, KAS entered a correction phase. Over the past few weeks, the coin has been stuck in a range between $0.10 and $0.12. This stagnant price action can be discouraging for traders, leading them to explore other opportunities.
Profit-Taking Pressure
Kaspa’s all-time low was around $0.0002, meaning early investors are sitting on significant gains. As these investors take profits, it could exert substantial selling pressure on the KAS price.
Memes Outperforming Utility Coins
Kaspa is a utility-focused cryptocurrency that leverages a unique blockDAG (Directed Acyclic Graph) architecture, utilizing the GHOSTDAG protocol. However, in the current market environment, meme-based coins are outperforming other altcoins. Recent examples include NEIRO, POPCAT, and D.O.G.E., all of which have surged over 100% in a short period.
This trend indicates that traders are primarily focused on the meme coin sector, potentially diverting capital away from utility-focused projects like Kaspa.
While it’s essential not to dismiss Kaspa entirely, KAS holders and prospective investors have valid reasons to be cautious about the coin’s short-term outlook, given the current market conditions.
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Kaspa (KAS) has captured the attention of both analysts and crypto enthusiasts due to its impressive on-chain metrics. Recently, Kaspa processed over 13 million transactions in a single day, highlighting its ability to handle a high volume of transactions efficiently.
This surge in activity has led traders to wonder if this growth will be reflected in the price of KAS. Tweets from notable crypto influencers, such as @OfficialTravlad and @Theblockvlog, provide valuable insights into Kaspa’s current market position and sentiment.
According to @OfficialTravlad, Kaspa is a standout project, especially in the Proof of Work (PoW) space, having achieved a significant transaction milestone. With millions of transactions processed in just 24 hours, this activity demonstrates the network’s scalability.
Daily reminder. $KAS is the most revolutionary crypto of recent crypto history.
A record breaking POW, processed 13M+ transactions within 24 hours. @KaspaCurrency
Analyst @Theblockvlog has provided an analysis of Kaspa’s price levels, identifying a key support range and a critical resistance point. In his chart, Kaspa’s price has maintained stability within a support zone between $0.1020 and $0.1080, often referred to as the “golden pocket.”
This level has seen significant buying interest, with multiple price wicks indicating strong demand. On the other hand, a resistance level has formed at $0.1210. If the price closes above this point, it could trigger bullish momentum.
This resistance level is considered a potential breakout zone, and analysts are closely watching Kaspa’s performance in this range.
When it comes to being profitable in #Crypto i keep on searching for charts with low hype and good structure
Kaspa (KAS) has been drawing comparisons to Solana’s (SOL) remarkable rally in 2020, with many supporters pointing out similarities in both price action and market sentiment. Recent discussions on X (formerly Twitter) have seen Kaspa advocates referencing historical trends that suggest the potential for significant price gains.
Crypto enthusiasts are speculating that Kaspa could follow a similar path to Solana, which saw a meteoric rise from a low valuation to a market high. This speculation has fueled conversations about Kaspa’s long-term potential.
Kaspa Enthusiasts Draw Parallels to Solana’s 2020 Market Surge
Crypto user @tkalakaspa highlighted the similarities between Kaspa’s current trajectory and Solana’s historic rise. They noted that Solana dropped from $5 to $1 in late 2020, with many doubting its potential. However, in 2021, Solana experienced a massive rally, reaching a peak of $260.
$KAS giving me Solana vibes in late 2020 where it went from $5 to $1 and everyone started to leave saying it is done. Then in next year 2021 it went on a run reaching $260 at peak.
For context, Solana’s market capitalization surged from $80 million to $60 billion during this period. Kaspa backers believe this comparison highlights the potential for significant upward movement, emphasizing that market sentiment alone doesn’t dictate a project’s ceiling.
The tweet also suggests that some investors are hesitant to predict Kaspa’s rise to $10 by 2025, much like early skeptics of Solana. By drawing on historical examples, @tkalakaspa hints at the unpredictability of crypto markets and the potential for exponential growth.
Another tweet from crypto analyst @realhus2 also signals optimism, predicting that Kaspa could soon reach $0.50. They pointed to a weekly green candle closing as a sign of support, which could lay the foundation for further gains.
Well well, look who’s came back from the dead. $KAS 🔥🔥🔥 All this has been written in the charts.
As Bitcoin dips below $68,000, the market is witnessing a small downturn. Kaspa and XRP are not performing well during this minor decline, but the new DEX-swapping platform, Lunex Network, continues to rise despite market constraints. Analysts attribute this to the platform’s unique cross-chain capabilities, predicting that Lunex Network could see a surge of 1800% and potentially achieve 100x gains by 2025.
FUD and Lack Of Enthusiasm Causes Kaspa To Drop In Early Q4
Kaspa has often been considered one of the most promising projects in this bull run, largely due to its potential solution to the cryptocurrency “trilemma.”
However, in Q4, Kaspa has succumbed to FUD, dropping nearly 30% this month. The FUD surrounding Kaspa stems from its underperformance over the year, the absence of tier 1 exchange listings, and the controversial statements made by a Kaspa team member on X.
While Kaspa is facing short-term challenges, many analysts believe it has reached a bottom around the 10-cent mark. Some speculate that Kaspa could mirror the trajectory of Cardano in this cycle, with potential gains of 10-20x by 2025.
Will XRP Experience A Rally?
Despite several significant bullish catalysts for XRP this year, various metrics suggest that XRP has been one of the worst-performing cryptocurrencies in the top ten over the past 12 months.
Many are left questioning whether XRP will ever see a substantial rally that could push it past its all-time high of $3.84 from 2017.
Speculation around a potential XRP ETF could generate excitement as the first “ETF bull run” approaches. Some analysts are optimistic that XRP could rally in November, but there’s also concern that this could be another false alarm, as many investors have grown weary of XRP’s resistance to bullish news and its consistent price range between $0.45 and $0.55.
Lunex Network Positioned For Major Growth As A Cross-Chain Leader
Lunex Network is gaining attention for its potential to deliver significant profits during this bull cycle. Experts predict that Lunex Network could provide 100x returns by 2025, with multiple rallies of over 1800% expected within the next year.
The Lunex Network platform simplifies token swapping by eliminating the need for third-party wallets like MetaMask or PhantomWallet. Users can simply choose the cryptocurrency they want to swap, input the recipient’s wallet address, and receive tokens in seconds. It’s a seamless process.
Another key feature of Lunex Network is its decision to remove all KYC requirements, allowing users to access the platform without needing to provide identification documents. This lowers the barrier to entry and appeals to traders who prioritize anonymity.
Lunex Network is revolutionizing cross-chain trading by enabling swaps across more than 50,000 unique blockchains and networks. While it supports well-known tokens like Ethereum, Solana, and XRP, Lunex Network stands out by offering access to lesser-known and emerging tokens that other platforms may restrict, such as meme coins and new layer-1 tokens like Kaspa.
By advancing the DEX space with its unique cross-chain functionality and user-friendly approach, Lunex Network is positioned for significant growth. Currently priced at $0.0019 in the fourth stage of its presale, early investors could see gains of over 100x by 2025. Don’t miss the next anticipated 1800% rally this November!
In a recent analysis, the crypto expert known as tkala draws a comparison between Kaspa (KAS) and Solana’s remarkable rise in late 2020. He points out that during that time, Solana’s price initially dropped from $5 to $1, leading many to prematurely declare its downfall. However, in 2021, Solana made a significant comeback, eventually reaching a peak of $260.
Tkala emphasizes that those who dismiss the possibility of Kaspa reaching $10 by the end of 2025 may not fully grasp the historical context. He draws parallels to Solana’s journey, which saw its market cap grow from $80 million to an astonishing $60 billion, suggesting that Kaspa could follow a similar trajectory.
The analyst’s message is clear: skepticism about ambitious price targets often stems from a lack of experience in witnessing such dramatic market shifts. He encourages investors to adopt a broader perspective and remain open to the potential opportunities that lie ahead for Kaspa.
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Crypto analyst Mia has provided valuable insights into the current state of Kaspa (KAS), highlighting the significance of the $0.1100 support level. According to Mia, holding this support is essential for maintaining bullish momentum in the market.
However, if KAS falls below this critical threshold, Mia warns that it could turn into a resistance level, which may lead to a more bearish outlook for the cryptocurrency.
An in-depth analysis of the KAS/USDT chart shows key support and resistance zones. The $0.1100 level is identified as a pivotal support area, marked by a yellow band just above the current price of $0.10826.
If this support level holds, it could serve as a strong foundation for a potential bullish rebound. However, if the price breaks below this level, the next significant support is around $0.0500, indicating a potential drop of more than 50%.
The Two Possible Scenarios Outlined
Mia outlines two potential scenarios for KAS. In the bullish scenario, if KAS can maintain its price above $0.1100, there is a chance for a rebound, which could lead to a renewed uptrend and a retest of previous highs near $0.15 and beyond.
Conversely, in the bearish scenario, if the price falls below the crucial support level, it could indicate a shift in market momentum. This would suggest that the $0.1100 area could become resistance, potentially leading to a decline toward the secondary support level around $0.0500.
Currently, KAS is trading at $0.10826, just below the critical support level, making the upcoming days crucial in determining whether this level will hold or flip to resistance.
