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Kaspa investors have reason to be optimistic this week, as the KAS token has demonstrated strong recovery from recent declines, surging by 26% over the past seven days. Just today, Kaspa has climbed another 9%, now holding above the $0.10 mark.
The primary driver behind this upward momentum is the recent announcement that Coinbase Advanced will introduce support for Kaspa perpetual futures. The trading platform is set to launch KASPA-PERP markets on or after 9:30 am UTC on February 20, 2025, alongside SPX-PERP.
Coinbase Advanced is adding support for $KASPA and $SPX perpetual futures.
The opening of KASPA-PERP and SPX-PERP markets will begin on or after 9:30 am UTC 20 FEB 2025. pic.twitter.com/uN4VJKvXRL
— Coinbase Traders (@coinbasetraders) February 13, 2025
Kaspa Chart: Technical Analysis
Analyzing the KAS/USDT chart provides insight into potential price movements. The chart reveals a well-defined descending channel, indicating that Kaspa has been in a downtrend for a while. However, a recent sharp rebound from the lower boundary of this channel suggests that buyers are stepping in. A confirmed trend reversal would require a breakout above the channel’s upper boundary.
One crucial factor to consider is that the 200-day moving average remains above the current price, reinforcing a bearish outlook. Historically, when an asset trades below this key indicator, it is considered to be in a downtrend, with the 200-day MA acting as a resistance level.
Kaspa has found solid support in the $0.09-$0.10 range, where buyers have stepped in to prevent further declines. Key resistance levels include the channel’s mid-line and the 200-day MA around $0.14. Despite the recent bounce, the broader trend remains bearish, with lower highs and lower lows still forming.
Momentum indicators such as the RSI currently show readings of 66.76 and 56.93, suggesting that Kaspa is neither in overbought nor oversold territory. If the RSI surpasses 70, it could indicate overbought conditions and a potential pullback. Conversely, an RSI below 30 might signal oversold conditions and a possible rebound.