Can KAS Crypto Price Turnaround Or Keep On Falling?

Kaspa crypto asset plummeted 3.43% in market value and went up by 31.01% in trading volume in the last 24 hours, as per CoinMarketCap, a crypto data analysis website. Its market value is $2,226,414,674 and its trading volume is $23,942,442. There are 22,525,890,539 KAS assets in circulation.

The price action shows that the price soared from $0.045000 to $0.150000 in the past. But the KAS crypto showed a sign of drop as the price fell from a supply level of around $0.150000 on the chart.

The KAS crypto is close to a big plunge, as it faces the resistance level and makes lows from the current support zone.

On examining the overall trend, the KAS crypto asset is showing bearish behavior and suggests that it has the chance to fall more. Meanwhile, it fell last week and last month by 1.46%, and 15.66%, respectively, implying a likely steady downward direction.

The KAS crypto asset is showing bearish features as MACD is at -0.002866 and showing bearish crossover. Meanwhile, the signal line is at -0.002797 and the histogram difference between both the lines is -0.000069.

Moreover, the Kaspa crypto asset is showing bearishness as it drops below the 20, and 50 Day-EMAs. KAS sliced the EMAs from above.

Also, the RSI is falling gently by meeting resistance from 14-SMA, suggesting that the KAS crypto asset is losing speed and can reach new lows. Whereas, RSI is at 41.44 and 14-SMA smoothened line is at 43.15.

Furthermore, the KAS crypto experienced a drop of 0.45% in the last 24 hours, and was trading at $0.098714 at press time. The price is forming downward structures by facing strong resistance from downward trendline.

Therefore, if the KAS crypto price fails to hold above the $0.092662 level, it could crack the current support and fall more to next big support.

However, if the demand for the crypto and buying force increases high, then the KAS asset price could reverse from the current level. The next target for the KAS price would be to reach $0.128730.

Summary

The KAS crypto experienced a 0.45% drop in the last 24 hours, and current price action are breaking downward structures by facing strong resistance from downward trendline.

On examining the overall trend, the KAS crypto asset is showing bearish behavior and indicates that it could fall more.

Kaspa crypto dropped below 20, and 50-Day EMAs. Also, the RSI is falling gently by meeting resistance from 14-SMA, suggesting that the KAS crypto asset is losing speed and could reach new lows.

Therefore, if the KAS crypto price fails to hold above the $0.092662 level, it could crack the current support and fall more to next big support.

Technical Levels

Support Levels: $0.092662

Resistance Levels: $0.128730

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.