Kaspa (KAS) has broken out, reaching $0.204-$0.205 on some exchanges. This is noted by Crypto MindSet’s YouTube analysis where they emphasize the importance of the daily candle body closing above key levels at $0.195 and $0.202.
Notably, Crypto MindSet suggests Kaspa could see substantial gains if the breakout is confirmed with strong volume. Besides, this breakout point is crucial, as it represents the area where liquidity and sellers are concentrated.
Related: Kaspa Poised for All-Time High: KAS Analyst Forecasts $0.4 Price Target in 30 Days
Kaspa Price Analysis
The video highlights various critical levels with a recent focus on $0.194-$0.195. If Kaspa breaks above these points, it could trigger a short squeeze, forcing short sellers to cover their positions and potentially driving the price higher.
According to Crypto MindSet, a confirmed breakout could see Kaspa moving to $0.21 or $0.22, with a possibility of reaching $0.40 soon.
The analyst notes that volume analysis is essential for confirming breakouts, but it is challenging without the daily candle print. Real-time candle analysis helps predict short-term movements and potential melt-ups.
High volume is crucial to validate the breakout and sustain upward momentum. The host emphasizes, “Kaspa is breaking out, reaching $0.204-$0.205 on some exchanges. This is major. If Kaspa prints higher, we should get a melt-up and a big short squeeze.”
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Source: captainaltcoin.com