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Kaspa (KAS) is currently valued at $0.089, hovering near the crucial $0.08 support level that has remained intact since November 2023. This long-standing support, which has held firm for over a year, is now under pressure. Market indicators suggest increasing selling activity, which could potentially lead to a notable price drop.
Analyzing the KAS daily chart, a failure to sustain the $0.080 support could result in a further 30% decline. In such a scenario, the cryptocurrency might move toward the next significant support range between $0.052 and $0.055, a level last observed in late 2023.
Technical indicators are signaling caution for Kaspa investors. The MACD indicator reveals that the blue line has crossed below the orange signal line, reinforcing bearish momentum. Additionally, the histogram is deepening in negative territory, indicating that sellers are gaining dominance.
The Relative Strength Index (RSI) is currently at 35.31, approaching oversold conditions. If it moves closer to the 30 level, it would confirm strong selling pressure. However, this could also create an opportunity for a short-term rebound if extreme oversold conditions are met.
Read Also: Whales Accumulate ONDO Despite Market Downturn—Here’s Why
What Lies Ahead for Kaspa (KAS) Investors?
If the price decisively falls below $0.080, it could accelerate the decline toward the anticipated $0.052-$0.055 range. Conversely, for a bullish reversal, buyers would need to push the price above the $0.089-$0.093 resistance zone, which could invalidate the bearish outlook and pave the way for recovery.
The combination of these technical factors—price testing a long-term support level, MACD bearish crossover, and a declining RSI—suggests a challenging period ahead for KAS. Traders should closely monitor the $0.080 level, as it represents a critical point that could determine whether the asset rebounds”
Source: captainaltcoin.com