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Kaspa is facing challenges as the broader cryptocurrency market experiences turbulence. Bitcoin’s decline has negatively impacted altcoins, including KAS, which is showing signs of a continued downtrend.
Technical indicators suggest further declines may be on the horizon. Key support levels will be crucial in determining whether a reversal is possible or if the downward trajectory will persist.
Kaspa Price Performance & Market Trend
Recently, KAS has seen significant losses, dropping over 9% at the time of writing and nearly 29% over the past week. Currently priced at just below $0.076, the bearish pattern is evident, characterized by lower highs and lower lows.
The $0.075 support level is a critical point, aligning with the lower Bollinger Band. For KAS to stage a recovery, it must break through resistance at $0.10 and the $0.12-$0.14 range. If selling pressure persists, the price may test the $0.065-$0.070 zone, with a potential drop below $0.06 if support fails.
The widening Bollinger Bands indicate increasing volatility, with the price hovering near the lower band at approximately $0.080, reinforcing the downward momentum. The middle band, representing the 20-day simple moving average, is at $0.09730, a key level KAS must reclaim to shift sentiment.
Additionally, KAS trading below the Ichimoku Cloud confirms the bearish outlook. The red cloud ahead suggests upcoming resistance, making recovery more difficult.
The Kijun-Sen (baseline) at $0.10814 and Tenkan-Sen (conversion line) at $0.08779 indicate that any upward movement will face significant resistance. The Chikou Span remains below the price action, further reinforcing bearish sentiment.
Read also: Will Jupiter (JUP) Price Break Resistance Amidst Incoming Buybacks?
KAS Trading Volume & Momentum Analysis
Market volume analysis indicates that sellers are in control. A sharp increase in trading volume during the recent decline highlights strong selling pressure, with a prominent red volume bar signaling continued bearish dominance.
Momentum indicators also suggest limited optimism for buyers. The MACD line is at -0.00166, below the signal line at -0.00538, confirming the bearish trend. While the histogram shows slight improvement, no clear signs of a reversal have emerged.
The RSI currently sits at 28.93, indicating oversold conditions, which could suggest a potential bounce. However, in strong downtrends, assets can remain oversold for extended periods before a recovery takes place.
Despite the prevailing bearish momentum, there are a few signs to watch for potential recovery: an RSI move above 30 and any bullish divergence on the MACD could be early indicators. A more concrete signal would be KAS reclaiming the $0.085 level near the Tenkan-Sen line, which could suggest a shift in momentum.
If selling pressure continues, the price may test the $0.065-$0″
Source: captainaltcoin.com