Crypto analyst Jim has provided an in-depth technical analysis of Kaspa’s (KAS) price action through a macro ascending channel. His analysis suggests potential price targets ranging from $0.33 to $5.36 by March 2025, based on current chart patterns and market behavior.
In a tweet, Jim emphasized the importance of risk management while maintaining a bullish outlook for KAS.
Jim’s weekly chart analysis reveals that KAS is trading within a clearly defined ascending channel. The price action consistently interacts with key support and resistance levels, reinforcing the pattern’s validity. The lower boundary serves as a strong support at $0.12356, while the midline is positioned around $0.33.
#Kaspa‘s Macro Ascending Channel
Following this trend on $KAS, one could argue fair value for $KAS right now is roughly $0.50.
If $KAS can continue to follow the trend, and the longer it takes to get there, the higher the price.
By end of March, 2025, the channel on $KAS… pic.twitter.com/g8XLCtds1q
— Jim, S𐤊i ₿um
(@skibumtrading) November 18, 2024
The current KAS price of approximately $0.176 is below the channel’s midline, indicating potential for upward movement. Multiple interactions with these levels further validate the technical formation.
Market Projections Indicate Multiple Price Targets
Jim’s analysis suggests that the fair value of KAS under current market conditions is around $0.50. The ascending channel offers various price targets depending on the timeframe. In the near term, resistance is expected at $0.33, which aligns with the channel’s midline.
The upper boundary of the channel ranges from $1.31 in shorter timeframes to $5.36 for longer-term projections, extending into March 2025. These targets are based on the channel’s upward slope, where delayed price movements could result in higher price levels.