Kaspa (KAS) has been showcasing a remarkable performance when compared to Bitcoin (BTC), reaching new all-time highs on June 5, 2024. A well-known crypto analyst, LongTerm, has praised the KAS/BTC chart, calling it “pure beauty.”
Kaspa’s Strong Recovery Post-Market Dip
LongTerm emphasizes Kaspa’s robust recovery after the recent market downturn. The analyst notes that KAS was the first to bounce back from the dip and has already reversed its downtrend weeks prior. This early rebound and trend shift indicate that Kaspa could potentially outshine other digital currencies in the prevailing market scenario.
Moreover, LongTerm observes that Kaspa has effectively surpassed the RSI-based moving average and is now retesting it. This technical progression is a positive indicator, suggesting that KAS might experience further gains.
Kaspa’s Market Presence and Optimistic Forecast
Another esteemed analyst, Bitcoin Ape, echoes a positive stance on Kaspa’s market movements. Their technical analysis reveals that KAS has not only breached the R1 and R2 resistance levels but also revisited its previous all-time high before retracting slightly. While Kaspa did not surpass the ATH, Bitcoin Ape believes it’s only a matter of time before it does.
Bitcoin Ape attributes the minor setback to Bitcoin’s market behavior, which is currently affecting numerous other cryptocurrencies. Nonetheless, the analyst points out that KAS is oversold and seems primed for another run at its ATH. Investors are advised to monitor Kaspa closely this week, as it displays significant growth potential.
Technical Analysis Backs Positive Outlook
A comprehensive technical analysis by altFINS supports the optimistic view for Kaspa. The analysis underlines KAS’s breakout from a falling wedge pattern and its climb above the 200-day moving average, indicating a continuation of the upward trend. However, Kaspa encountered resistance at $0.19, a level that had previously caused a price rejection in February, leading to a pullback due to profit-taking.
altFINS compares the current scenario to that in February and suggests that investors consider purchasing during pullbacks near the $0.15 support zone. This price point offers an appealing entry for a swing trade, with a prospective 25% gain target back to $0.19. A stop loss is recommended at $0.138.
The technical analysis also shows that Kaspa’s short-term, medium-term, and long-term trends are all upward, reflecting strong bullish sentiment. Although momentum is currently on the rise, a decrease in MACD histogram bars hints at a possible slowdown in momentum ahead.
The post Crypto Analyst Says Kaspa Against Bitcoin is ‘Pure Beauty’ – KAS Price Rally Incoming? appeared first on CaptainAltcoin.”
In a recent video, well-known cryptocurrency analyst Crypto ZX discusses the remarkable performance of Kaspa (KAS) and what investors can anticipate from the digital currency in the coming days. Despite a general market slowdown with many cryptocurrencies in decline, Kaspa has managed to shine, achieving a 4.8% increase in the past day. Crypto ZX delves into the price movements and technical analysis to offer valuable predictions on KAS’s future direction.
Kaspa’s Price Movement and Market Presence
Kaspa is presently valued at $0.1639, showing a 4.8% rise, with its market capitalization nearing $4 billion. The trading volume over 24 hours is also approximately $62 million.
Even though Kaspa isn’t listed on major centralized exchanges like Binance, Crypto ZX maintains a positive outlook on the coin’s potential for future listings. Comparing it to VeChain, which secured a Coinbase listing years after its debut, the analyst suggests Kaspa might follow suit once further progress is achieved.
Technical Analysis: Fibonacci Retracements and Support Levels
Crypto ZX examines Kaspa’s technical indicators, highlighting its position relative to Fibonacci retracement levels. KAS currently hovers in the 0.50 Fibonacci retracement zone, a known support level. The cryptocurrency recently attempted to breach the 38.2 Fibonacci level but was met with resistance, signaling a challenging price point.
Nevertheless, Crypto ZX underlines Kaspa’s significant rebound since May 1st, with the coin still up by 57.7% despite a 14.6% drop from its peak. The analyst notes that the overall price pattern covered on the channel over the past month is unfolding as anticipated, which bodes well for Kaspa supporters.
Hourly Timeframe Analysis and Resistance Levels
Focusing on the hourly chart, Crypto ZX observes that Kaspa’s previous resistance level, which it surpassed during its climb towards the 38.2 Fibonacci level, now serves as a support level. This indicates positive prospects for the coin’s upcoming price movements.
The analyst also points out the 17 cents price point as a significant resistance level based on past performance. Kaspa’s retest of the 38.2 Fibonacci level on Sunday has generated considerable momentum and is indicative of the coin’s potential.
Bullish Outlook and Risk Management
Crypto ZX expresses confidence in Kaspa’s potential to reach the 17.1 cents mark and possibly reclaim the 23.6 Fibonacci zone, which corresponds to its all-time high range. The analyst remarks that Kaspa has shown resilience in recovering this zone swiftly after steep declines, distinguishing it from many other projects.
However, Crypto ZX also recognizes the risks associated with Kaspa, noting that it may be more prone to manipulation than some other projects. The analyst advises investors to implement stop losses as a safety measure, particularly if Bitcoin were to undergo a fake-out.
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The original article titled “Here’s Why This Week Could Be ‘Big’ for Kaspa as KAS Price Pumps” can be found on CaptainAltcoin.”
The value of Kaspa (KAS) has experienced a 20% decrease over the past four days, currently trading at approximately $0.156. Despite this, renowned cryptocurrency analyst Crypto Chrys remains optimistic, advising investors to hold onto their assets. In his recent YouTube video, “Kaspa: This Is A Huge BEAR TRAP! (Here’s Why),” Chrys outlines his reasoning for staying bullish on Kaspa amidst the market downturn.
Chrys is confident that the recent price drop is a “bear trap” and predicts a market turnaround in the coming week. He suspects that large investors are manipulating both Kaspa and Bitcoin markets, but foresees a swift recovery. Chrys believes that Kaspa’s price will not remain under $0.16 for an extended period and anticipates a prompt rebound.
Chrys points to several positive signs for Kaspa’s future growth despite the recent price decline. The project’s hash rate has climbed to 342.65 P per second, indicating steady growth and increased mining activity, which suggests a positive market outlook.
The project’s transition to Rust is nearly complete, currently at 99.89%. Chrys anticipates a strong performance for Kaspa in June, with the potential to reach $0.40 or higher.
Technical and Fundamental Analysis
In terms of technical analysis, Chrys identifies a potential reversal pattern, which he refers to as a “bear trap.” He stresses the influence of large-scale investor manipulation on both Kaspa and Bitcoin prices and predicts that Kaspa will soon exceed $0.20 and possibly reach $0.30.
From a fundamental perspective, Chrys notes significant institutional investments as an indicator of an upcoming bullish trend. He also mentions El Salvador’s substantial Bitcoin holdings, now valued at over $400 million, and 18 consecutive days of inflows into Bitcoin spot ETFs as signs of a positive market shift.
Chrys reasserts that the current dip in Kaspa’s price presents an investment opportunity. He encourages viewers to purchase Kaspa while it is undervalued, forecasting considerable gains in the future. With forthcoming market developments, Chrys believes that Kaspa could potentially double in value, reaching $0.40 or more. He also advises storing Kaspa in cold storage for security and recommends Trezor with a discount code.
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In a video by a cryptocurrency enthusiast on YouTube, the host shared some optimistic predictions about the potential worth of the digital currency Kaspa (KAS). Described as the “premier crypto coin on the globe,” the forecast suggested that a sum of 10,000 KAS could reach a value of $210,000 by the year 2025.
The Potential of Kaspa
With its current position at #29 in market capitalization and a trading value of approximately $0.14 per token, Kaspa sets itself apart as the first block DAG (Directed Acyclic Graph) to be in the process of integrating smart contracts. This DAG structure is believed to provide quicker, more scalable, and more secure transaction capabilities compared to traditional blockchains.
The YouTuber from Crypto Galaxy is particularly confident in Kaspa’s future because it operates on a proof-of-work (PoW) system similar to Bitcoin, and criticizes proof-of-stake coins for “creating value from nothing.” The video also praises Kaspa’s “honest launch,” highlighting that there were no pre-allocations to insiders.
Why $210,000 for 10,000 Kaspa
The host’s prediction for 2025 is based on several factors:
Exchange Listings: The belief is that once Kaspa is listed on major exchanges like Coinbase and Binance, it will attract significant demand.
Market Cap Potential: The prediction includes Kaspa reaching a market cap of $500 billion during the next surge in cryptocurrency popularity.
Per-Coin Value: If the market cap hits that figure, each KAS could be valued at $21.
If KAS reaches $21 per token, an investment of approximately $1,440 for 10,000 KAS today could potentially be worth over $210,000 in 2025.
The video encourages viewers to acquire at least 10,000 KAS, labeling it a “lifetime retirement coin” and suggesting it should make up 70% of one’s crypto portfolio. It also strongly advises against keeping Kaspa in exchange wallets for security reasons, instead recommending personal wallets or cold storage.
Although these predictions may seem extravagant, the rising interest in DAG-based cryptocurrencies like Kaspa has many investors on the lookout for the next breakout project. Whether Kaspa will fulfill its “greatest coin” reputation remains to be seen.
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In a recent YouTube video by On The Go Crypto, the cryptocurrency expert delved into the latest price movements of Kaspa (KAS). The video highlighted the significance of Kaspa’s recent price pump, which saw it reach a new all-time high of $0.1916, and the implications this has for the project and its backers.
Kaspa’s Price Surge Independent of Bitcoin’s Market Influence
The video pointed out that Kaspa’s price increase was not simply a byproduct of Bitcoin’s market sway. A detailed examination of the price charts shows that Kaspa’s rise began on June 2nd, while Bitcoin’s increase commenced on June 4th.
This indicates Kaspa’s intrinsic value and its capability to draw investor interest without being influenced by the general market direction.
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A significant factor behind Kaspa’s price jump is its transition to Rust nodes. With the migration nearing completion, this technical achievement is expected to boost network performance and scalability, drawing more investor attention to Kaspa.
There’s also speculation that Coinbase might list Kaspa due to past associations and financial aid given to the developers. The prospect of being listed on a prominent exchange like Coinbase can create substantial buying interest, fueling the price increase.
Despite some skepticism about Kaspa’s future prospects, On The Go Crypto stresses that the project is advancing with or without detractors.
The analyst urges investors to seize the current opportunity and consider accumulating KAS while it’s still in its early stages.
On The Go Crypto also dispels the myth that purchasing Kaspa is challenging, pointing out that Kaspa’s official site offers several straightforward options for buying KAS, including platforms like Uphold and ChangeNow.
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The valuation of Kaspa saw a record peak of $0.192 this past Wednesday. Subsequently, the price experienced a dip, settling at $0.179, likely due to investors cashing in on their gains. Despite this minor setback, Kaspa’s value has been on an upward trajectory since the beginning of the day, although it now encounters significant resistance in surpassing its previous peak.
Nonetheless, market experts maintain a bullish stance on Kaspa’s future pricing, forecasting substantial increases in the months ahead. An analyst known as bysiyakat on X has even charted a course for Kaspa to hit $5, with the expectation that the majority of the movement propelling this surge will transpire between July 2024 and 2025. His projections indicate that the progression from $2 to $5 will be logarithmic, signifying major percentage gains.
Bysiyakat underscores the significance of recognizing cyclical patterns in the crypto market, proposing that such insights can lead to considerable wealth generation.
On the KAS weekly chart, bysiyakat has pinpointed a pattern where the intervals between the blue lines are narrowing, hinting at a potential acceleration in price growth. The two orange vertical lines mark the period from July 2024 to July 2025, which he believes will be pivotal for KAS’s price trajectory.
Running Flat Pattern Signals Bullish Breakout for KAS
Cryptographur, another esteemed analyst, has detected a Running Flat Pattern on the KAS chart that has persisted for seven months. He views this as one of the most optimistic patterns seen for the cryptocurrency. The pattern’s shallow and prolonged correction phase, followed by an expected upward breakout, suggests a forthcoming price surge.
