Kaspa crypto price has been on an uptrend throughout the year, making the higher highs pattern. This shows that the bulls have been controlling the trend and that the bears have lost their momentum. The crypto is trading above the key moving averages, which indicates further strength.
The crypto has created a bullish pattern and elevated the gains. Kaspa (USD: KAS) crypto has returned to its previous breakout level, which could act as a support.
The technical analysis suggests that the crypto is heading towards the overbought zone and could reach higher levels. However, the crypto needs to show some signs of strength and reversal before confirming a pullback rally.
Kaspa crypto (USD: KAS) price is in a correction phase but trading near to crucial support of $0.095521. If formed, a bullish candle would indicate that buyers are active and will try their best to reach upper levels.
KAS crypto price closed the previous session at $0.114350 with an intraday drop of 4.68%. If the buyers succeed in defending the current support then the possibility of reaching higher levels will increase. However, if the sell-off continues and Kaspa crypto drops below lower levels, a downfall would be likely.
The seller tried multiple times to break the lower range and pull the price downward. However, due to the strong presence of buyers, prices bounced back. It shows buyers are still active on lower levels.
Technical Analysis of Kaspa Crypto Price in 1-D Time Frame
Kaspa’s price is trading above the 50-day and 200-day EMAs, showcasing an uptrend. However, the Kaspa price is facing correction.
The MACD generated a positive crossover and the histogram is also green indicating bullishness. The RSI denotes neutrality on the chart. The current value of RSI is at 48.95 points. The 14 SMA is above the median line at 44.58 points which indicates that the Kaspa crypto is neutral.
Weekly-Time Horizon Analysis
Kaspa crypto has shown buyers’ strength on the weekly chart. Moreover, the price is trading above the key EMAs, which shows further strength in the crypto. The RSI curve is near the overbought region at 64.80, and a positive outlook was noted, indicating bullishness in the crypto. The MACD indicator also persisted to form green bars, and a bullish crossover was noted, which signals bullish moves in Kaspa coin price.
Summary
Kaspa (USD: KAS) technical oscillators support the bullish trend. The MACD, RSI, and EMAs are emphasizing positive signs and imply that the uptrend may continue in the KAS crypto price. Kaspa price action suggests that the investors and traders are bullish on the 1-D time frame. The price action reflects a bullish perspective at the moment.
Technical Levels
Support Level: $0.095521
Resistance Level: $0.154245
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
Source: https://www.thecoinrepublic.com/2023/12/30/kaspa-price-prediction-will-kas-crypto-change-the-game-in-2024/