Kaspa (KAS) has seen a significant 45% decline from its all-time high (ATH), leading to speculation about a potential recovery in the near future.
Crypto analyst King Crypto has shared his thoughts on the recent dip, expressing optimism about Kaspa’s ability to bounce back despite the current downturn.
King Crypto’s insights, along with the latest technical chart analysis, suggest that although the asset has faced considerable challenges, increasing buyer interest at lower levels could indicate a potential reversal.
The price has dropped below several support levels, falling significantly from its ATH, which points to a persistent downward trend on the Kaspa chart. According to King Crypto, the 20-day and 50-day moving averages (MA) are showing a negative trend, with the shorter-term 20 MA currently below the 50 MA.
This alignment typically signals continued selling pressure. However, recent price movements suggest a potential bottoming pattern, indicating that the asset may be finding a strong support level where buyers are stepping in.
King Crypto’s tweet echoes this sentiment, mentioning “max bidding” at the bottom level. This term implies heightened buying interest at current prices, which could lay the groundwork for a price rebound. Despite the bearish momentum on the chart, this accumulation phase might mark a turning point for the asset.
Additionally, the Moving Average Convergence Divergence (MACD) indicator also shows bearish momentum. However, a crossover or upward shift in the MACD could signal a potential trend reversal, further supporting this outlook.
Key Support and Resistance Levels
Technical analysis reveals that Kaspa’s price is trading near a critical support zone, labeled as the “Bottom” level on the chart. This support area is seen as a key zone for buyer interest, with a potential reversal forming if buying pressure continues.
If Kaspa’s price rebounds from this level, it will face Resistance 1 ($0.116) as the first significant hurdle. A breakout above this level could indicate renewed bullish momentum, potentially shifting market sentiment.
Further up lies Resistance 2 ($0.1298), a stronger resistance level that could present additional challenges for Kaspa’s upward movement. King Crypto agrees that breaking through this higher resistance could pave the way for a longer-term uptrend, provided that buying interest remains strong.
Analysts Remain Optimistic About Alt Season’s ImpactSource: captainaltcoin.com
The price of Kaspa has been moving sideways for quite some time now, and it’s something that all KAS enthusiasts need to come to terms with, whether they like it or not.
In the past 30 days, Kaspa has seen a 30% decline in value, now trading within the $0.10-$0.12 range. A well-known analyst, “Csm19XD,” has provided insights into why the price of Kaspa is currently being manipulated.
Understanding the Manipulation Pattern
Price charts indicate a steady downtrend in KAS prices during the latter half of 2024. What stands out is the fact that open interest remains high, even increasing at times as the price drops. Typically, when open interest is high in a declining market, it suggests that either more traders are betting on further price decreases, or long-term holders are accumulating more to lower their average entry price.
Kaspa data reveals something intriguing — there are more long positions than short ones, even as the price continues to drop. This suggests that while regular traders are buying in hopes of a price rebound, there may be other forces at play.
On October 25th, a significant $800,000 worth of long positions were liquidated across Binance, ByBit, and Huobi. This wasn’t a random market fluctuation — it coincided with a 35% drop in open interest, indicating that many traders were forced out of their positions.
Top crypto analyst Crypto ₿ULL God has shared a positive outlook for Kaspa (KAS) despite its year-long distributive phase. Through X, the analyst provided a detailed forecast, discussing signals that could confirm a potential accumulation phase and a renewed price surge in 2025.
According to Crypto ₿ULL God, key chart patterns and broader crypto market trends could propel Kaspa into the top 10 by market cap.
Volume and Price Action Indications
Crypto ₿ULL God noted that Kaspa’s one-year distributive phase might signal a transition into accumulation if specific indicators align. Central to this outlook is a focus on volume patterns; lower volume during markdown stages paired with heightened activity during rallies may signal a shift from weak to strong hands.
Additionally, the emergence of higher lows and higher highs in Kaspa’s price trajectory would indicate progressive buying interest at elevated levels, a typical sign of market strengthening.
The analyst emphasizes the importance of observing these patterns to identify accumulation, as they reveal buyer confidence. As buyers continue to enter at higher prices, the Kaspa market could demonstrate stability and potential upward movement.
Key Support Levels and Market Position
Another focus in Crypto ₿ULL God’s analysis is Kaspa’s resilience around its current support region of $0.09 to $0.10. This zone is essential, as holding this range on the daily close could maintain a stable base for future rallies. According to the analyst, only a consistent break below this support level on a daily candle close basis would raise concerns.
This support level’s relevance is also enhanced by the current bullish sentiment in the broader crypto market. The analyst predicts an expansive bull run in 2025, which could provide the liquidity needed to support and amplify Kaspa’s upward trajectory.
Signs of Institutional Interest and Market Strength
To gauge institutional interest, Crypto ₿ULL God pointed to volume clusters in particular price ranges. Concentrated buying in these clusters could indicate institutional or centralized exchange accumulation, providing a solid foundation for sustained growth.
Additionally, the analyst highlighted the role of support and resistance zones, as breakthroughs in resistance could signal increasing demand and”
In the YouTube video titled *Can Kaspa Still Reach $10 This Bull Run?*, Lee the Captain, a crypto analyst, shares his optimistic outlook on the potential of Kaspa (KAS), despite recent price fluctuations that have raised concerns among some investors.
He stresses the importance of a long-term perspective, maintaining a speculative price prediction of $10 for Kaspa during the current bull run, while clearly stating that this is not financial advice.
The analyst highlights the impressive aspects of the Kaspa project, particularly its strong community and solid fundamentals, especially as a block DAG technology. He acknowledges that Kaspa is still relatively new and lacks the extensive ecosystems seen in platforms like Ethereum, Solana, and Avalanche.
However, he believes the project has significant growth potential and is far from reaching its full development.
Kaspa Has a Lot of Room For Growth
Lee reflects on his own investment journey, revealing that he began accumulating Kaspa (KAS) over a year ago. He contrasts it with smaller microcap projects that carry higher risks due to their lack of community and track record.
He appreciates the balance Kaspa offers: a project that is not too large but still has the potential for substantial growth without excessive risk.
The analyst argues that Kaspa is not comparable to more established cryptocurrencies like Bitcoin or Ethereum, which he refers to as “dinosaurs” in the space. He remains optimistic about Kaspa’s potential to deliver impressive returns, noting that even reaching $10 would represent an approximate 8x increase from its current price.
https://youtube.com/watch?v=L8vTLQqcE-o
Kaspa Solves the Trilemma
Lee emphasizes the impressive speed of the Kaspa blockchain, claiming it is around 600 times faster than Bitcoin. He highlights the potential of the KRC20 standard to support various projects, including meme coins and AI applications, which could significantly enhance Kaspa’s utility and adoption.
Addressing the blockchain trilemma, he explains that Kaspa effectively balances decentralization, scalability, and security, positioning it well against competitors. He appreciates the project’s simplicity, contrasting it with other complex projects that may be difficult for investors to understand.
In his closing remarks, Lee the Captain reiterates his confidence in Kaspa’s future, asserting that the $10 target is achievable. He believes that the project is well-established and that better days are ahead, emphasizing the importance of patience in the investment landscape.
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Kaspa (KAS) has set a new milestone in the proof-of-work blockchain sector, processing 16 million transactions valued at $39.83 million within a 24-hour period. According to King Crypto on X, this figure exceeds the combined all-time transaction records of Bitcoin, Ethereum Classic, Litecoin, Dogecoin, and Bitcoin Cash by 2.1 times.
The network achieved this feat ahead of its anticipated 10 BPS upgrade, which aims to improve scalability and performance. The transaction volume highlights Kaspa’s processing power within the proof-of-work ecosystem.
If you’re spending all your time on the @KaspaCurrency chart, you may not appreciate the major milestone we just crossed this week.
For the first time, $KAS broke the record for the most daily transactions EVER on a proof-of-work network with almost 16 million transactions worth… pic.twitter.com/0Yk1sTje4w
Market data from CoinGecko shows [KAS trading at $0.1188](https://www.coingecko.com/en/coins/kaspa). The token recorded a trading volume of $108,436,575, with a 6.32% decrease in price over 24 hours and a 9.35% decline over the past seven days.
## **Technical Analysis and Market Sentiment**
X user ScapeSquad shared an analysis suggesting Kaspa’s potential for a bullish price reversal. The analyst highlighted KAS’s solution to the blockchain trilemma—a challenge involving trade-offs between scalability, security, and decentralization in blockchain networks.
#Kaspa is primed for a bullish reversal to continue its macro upward trend. $KAS solved the Trilemma. This is a proven fact.
The upcoming 10 BPS upgrade is a key focus for Kaspa’s technical roadmap. This enhancement is designed to improve transaction processing capabilities, following Kaspa’s recent achievement in daily transaction volumes within the proof-of”
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