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Kaspa has been fluctuating within the range of $0.14 to $0.17, and market observers believe it could be gearing up for a significant move in the near future.
Renowned analyst King Crypto recently shared his thoughts on X, suggesting that Kaspa’s charts indicate a potential breakout. He anticipates the cryptocurrency may surpass its previous highs and venture into uncharted territory. As Kaspa’s price continues to align with its 20-day moving average (MA), traders are closely monitoring for a breakout above current resistance levels.
KAS Technical Analysis
Kaspa’s price has been consolidating between $0.14 and $0.17 for some time. According to King Crypto’s analysis, this type of sideways movement often signals accumulation, where investors are quietly buying in anticipation of a larger move. Traders appear to be positioning themselves for a potential breakout while the price remains within this range. Historically, prolonged consolidation like this often precedes a strong upward trend.
Chart analysis reveals that Kaspa’s price has consistently respected a key support level around $0.142253, with multiple bounces off this zone. This indicates strong buying interest at this level. A decisive break above the $0.176028 resistance level could pave the way for further gains, potentially pushing the price into new territory.
Currently, Kaspa’s price remains above its 20-day moving average, which continues to provide support during this consolidation phase. This suggests that buyers are still active in the market. Meanwhile, the 50-day moving average is beginning to flatten out and could act as additional support if the price experiences a minor pullback.
King Crypto’s analysis emphasizes that the consistent movement above the 20-day MA could act as a catalyst for a breakout. As the 20-day MA guides the price action upward, the likelihood of Kaspa challenging the $0.176028 resistance level becomes more apparent. Should this resistance be breached, the cryptocurrency may enter a phase of price discovery.
Key Resistance and Market Sentiment
While the overall outlook for Kaspa remains bullish, the cryptocurrency faces a significant resistance level at $0.176028. This price point has previously acted as a barrier, with selling pressure emerging at”
Source: captainaltcoin.com