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KAS has been experiencing new lows, currently valued at $0.087 after a nearly 20% drop over the past six days. Some market analysts suggest that this could be an ideal moment to enter the project and take advantage of the dip.
Among these analysts is King Crypto, a well-known technical analyst with over 25,000 followers. He believes that the current price level presents a strong opportunity to acquire KAS while it remains below the $0.10 threshold.
“I was mistaken in my previous Kaspa projections,” King Crypto acknowledged in his latest analysis of the KAS/USDT trading pair. “It appears we have one more opportunity to buy KAS under $0.1, and honestly, I’m not complaining.”
The daily chart highlights multiple resistance levels that have limited KAS price movement. These resistance points are positioned at approximately $0.175, $0.158, $0.142, and $0.125—areas where sellers have historically stepped in to halt upward momentum.
On the support side, a key level has emerged near $0.081, which has served as a foundation during the ongoing downtrend. Recently, KAS has shown signs of accumulation around the $0.09 mark, a development that King Crypto considers significant.
Technical Indicators and Market Sentiment
Both the 50-day moving average (blue line) and the 20-day moving average (yellow line) are trending downward, indicating bearish momentum in the short term. This sentiment is further reinforced by the MACD indicator, which shows the MACD line positioned below the signal line.
Despite these short-term bearish signals, King Crypto remains optimistic about Kaspa’s long-term potential. “The longer the accumulation phase, the bigger the breakout,” he stated, suggesting that the current consolidation period could be setting the stage for a significant price surge.
His confidence is rooted in Kaspa’s fundamentals. “As I’ve mentioned before, the price of a token will always align with its utility,” King Crypto emphasized. “As long as the Kaspa team continues building, I firmly believe we’ll soon be discussing KAS prices in dollars rather than cents.”
From a technical standpoint, KAS has been in a downtrend since reaching its peak in December 2024. After a brief rally in early February, the token failed to reclaim previous highs and has since resumed its decline.
Read Also: Bittensor (TAO) Gearing Up for Over 100% Rally as Price Hits 7-Month Support
Key Price Levels to Monitor
For traders closely watching price action, the $0.081 to $0.09 range represents a crucial support zone. If this level holds, it could serve as a foundation for future price appreciation. Conversely, resistance levels at $0.11, $0.125, and $0.142 must be broken for any meaningful trend reversal to occur.
King Crypto’s updated outlook suggests that while KAS may face short-term bearish pressure, the current price action represents an accumulation phase that could precede a”
Source: captainaltcoin.com