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Kaspa’s (KAS) recent price movements have drawn significant attention as it approaches a crucial resistance level. Analyst Fibonaccious highlights a year-long consolidation phase, suggesting the potential for a breakout that could lead to a period of strong upward momentum.
In his tweet, Fibonaccious identifies $0.18 as a key level, referring to it as a “launchpad” for significant growth. Currently, KAS is trading around $0.1507, showing signs of recovery after testing a critical support zone.
For over a year, the token has remained within a consolidation range of $0.10 to $0.18. This prolonged phase suggests sustained accumulation, with institutional investors and long-term holders positioning themselves for potential future gains.
Trading volume data further supports this outlook. Recent activity, with a volume of 33.7 billion, indicates heightened interest, particularly during price movements near support and resistance levels. Historically, such volume trends have been associated with accumulation phases and subsequent price rallies.
Key Support and Resistance Levels for Kaspa
The support range of $0.10–$0.095 has consistently demonstrated resilience, with the price rebounding strongly from this zone on multiple occasions. This range has established itself as a strong demand area, forming the foundation for the current price structure.
On the resistance side, $0.18 is identified as a critical level. A breakout above this point could lead to rapid price increases, with $0.20 serving as the next psychological barrier. Beyond $0.18, resistance levels become sparse, increasing the likelihood of sharp upward movement.
Accumulation Phase and Breakout Potential
The year-long sideways movement in KAS’s chart suggests an accumulation phase, often a precursor to significant price movements. Fibonaccious, in his tweet, underscores the market’s underestimation of KAS’s potential volatility, describing the current setup as a “launchpad.”
If KAS surpasses the $0.18 resistance, the breakout could trigger FOMO (Fear of Missing Out) among traders, leading to increased trading volume and accelerated price growth.
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Outlook and Scenarios
Bullish projections”
Source: captainaltcoin.com