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Kaspa (KAS) has shown signs of recovery after a significant decline, managing to reclaim the $0.10 price level. Following a test of lower support levels, the cryptocurrency is once again attracting investor attention.
Crypto analyst Mitchell Lim shared his insights in a recent YouTube analysis, maintaining a positive outlook on Kaspa’s long-term potential. Despite the asset rebounding above $0.10 from its previous low of $0.07, Lim has not dismissed the possibility of a further dip to $0.05.
He believes Kaspa remains undervalued and suggests that patient investors may find this an appealing entry point. If the price fails to sustain its current momentum, Lim identifies $0.05 as the next key support level.
According to him, maintaining a position above $0.09 is essential to avoid further declines, as holding this level could indicate market stability.
At the time of writing, Kaspa is trading at $0.103, as reported by CoinGecko. This represents a 17.53% increase in the past 24 hours. However, over the last week, KAS has seen a 1.83% decline, highlighting ongoing market fluctuations. Lim pointed out that short-term volatility is expected, but he remains optimistic about Kaspa’s long-term trajectory.
Analyst’s Perspective on Kaspa’s Future and Investment Strategy
Despite recent price movements, Lim does not interpret Kaspa’s performance as bearish. Instead, he views the decline as an opportunity for accumulation. “If Kaspa drops to 5 cents, I’m buying,” he stated, reaffirming his confidence in the project’s fundamentals. He drew a comparison between Kaspa’s current phase and Bitcoin’s early years, suggesting that long-term holders could benefit.
Lim advocates for a dollar-cost averaging (DCA) strategy, indicating his plans to gradually accumulate more Kaspa. Additionally, he mentioned that if the price reaches $0.05, he intends to shift some of his holdings from Solana and Ethereum into Kaspa.
Kaspa’s development team is currently working on integrating smart contracts, a feature Lim believes will enhance the cryptocurrency’s utility.
According to him, testing has been completed, and full implementation is on the horizon. This upgrade could position Kaspa as a stronger contender in the blockchain space. “Smart contracts are coming, guys! Kaspa holders, this is going to be very exciting,” he said.
Market Sentiment and Future Expectations for KAS
Lim advised investors to avoid panic selling and to consider Kaspa’s market cycle from a broader perspective. He emphasized that corrections are a natural part of the cryptocurrency market and that if Kaspa reaches $0.05, it is unlikely to stay at that level for long.
“Kaspa’s first real bull run is coming, and I believe it will reach new highs in 2025,” he predicted. With strong developer activity and increasing adoption, Kaspa’s future remains a key point of interest for market analysts.
Read also: XRP”
Source: captainaltcoin.com