Kaspa is currently undergoing significant accumulation within the price range of $0.156 to $0.175. According to King Crypto, a similar accumulation phase was observed between $0.11 and $0.13, which was followed by a price surge of approximately 78%.
King Crypto’s analysis suggests that a similar price spike could occur in the coming days, provided no major bearish events disrupt the current trend.
Ongoing Trendline Support Suggests a Possible Decline
Looking at the broader market, Kaspa’s price has been consistently bouncing off a trendline support since mid-2023. This trendline has acted as a foundation for price rebounds.
Bulls have repeatedly found liquidity at this level, indicating that the KAS price might need to dip to this support before experiencing a significant bounce.
Should the price break below the accumulation support around $0.15, we could see a retracement back to this trendline support.
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Source: captainaltcoin.com