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Kaspa’s price has remained in a sideways trading pattern, even as numerous other altcoins have reached new highs. Bitcoin, too, has been on an impressive upward trajectory. This stagnation in KAS’s price movement has raised concerns among community members.
The host of Tactical Investing, a crypto-focused YouTube channel with over 30,000 subscribers, has delved into the peculiar case of Kaspa’s current market behavior.
He highlights that while Bitcoin has been trending upward and several altcoins have achieved gains of 50%, 75%, or even over 100%, the price of KAS has significantly underperformed.
The analyst underscores the irony of this situation, given that KAS was one of the top-performing cryptocurrencies throughout 2022 and 2023. At present, the token’s sideways trading has become so pronounced that some investors have jokingly referred to it as a “stablecoin.”
Historical Patterns Indicate Potential Opportunities
Despite the current stagnation, the analyst views this as a potentially favorable scenario. Drawing on historical patterns, he notes that KAS has consistently established strong support levels at various price points—starting at 1 cent, then 5 cents, and now around 10 cents.
Currently, the token is trading between 15 and 17 cents, which he interprets as a median price range that could precede a breakout.
The host points out that Kaspa’s strongest rallies have historically occurred during periods of market frustration, when other cryptocurrencies were experiencing significant growth.
A Long-Term Strategy for Investors
The analyst advises investors to adopt a long-term perspective, emphasizing that the fundamentals of Kaspa support the possibility of reaching new all-time highs. He suggests price targets of 25 cents and”
Source: captainaltcoin.com