Kaspa: Assessing altcoin’s $0.13 price target after 37% weekly surge

• KAS has surged by 37.5% over the past seven days.
• Kaspa was experiencing a strong upward momentum, with demand soaring.

After hitting a local bottom, Kaspa [KAS] made a strong upswing on its price charts. Over the past week, KAS has hiked from a local low of $0.08 to a high of $0.112.

In fact, at the time of writing, Kaspa was trading at $0.11. This marked a 37.5% rise on weekly charts.

Before this price pump, KAS had been on a downward trajectory, dropping by 24.26% over the past month. Therefore, with the trend reversal, the question among the KAS community is whether the altcoin can sustain it.

Can Kaspa sustain recent gains?

According to AMBCrypto’s analysis, Kaspa was seeing strong demand, which has strengthened the uptrend movement.

Source: TradingView

For example, Kaspa’s Relative Strength Index (RSI) has steadily risen from 30 to 51 over the past week. This continued uptick suggests that buyers are in total control while sellers have exhausted.

A rising Relative Vigor Index (RVGI)  further confirmed this upward momentum. Since making a bullish crossover six days ago, RVGI has continued to rise, signaling strong upward momentum.

Source: Coinalyze

KAS investors remain bullish

Looking further, Kaspa investors are bullish across the charts. As such, KAS’s Aggregated Funding Rate AVG has turned positive and settled at 0.0077.

When this turns positive, it implies that long position holders are bullish; thus, they are paying shorts to hold their positions.

Such market behavior reflects strong optimism as investors expect further price gains.

Source: Coinalyze

Their market dominance further evidences this bullishness among longs. As such, long positions account for 62.83% of the futures contract.

A Long-Short Ratio of 1.648 implies that long positions dominate the market. This means that most investors are bullish, and Kaspa is to make more gains.

Source: Messari

Kaspa’s Circulating Marketcap Dominance has risen over the past two weeks, spiking from 0.07 to 0.08. This rise reflects growing investor confidence, with more capital inflow into KAS than other assets.

As a result, KAS is experiencing strong adoption, ecosystem growth, and favorable market conditions. This makes the altcoin more attractive to new investors, further extending its growth trajectory.

Currently, Kaspa is in an upward momentum with buyers taking control of the market. Strong bullish sentiments prevail, positioning KAS well for more gains.

If the current trend holds, Kaspa will break out of the $0.11 resistance and reclaim $0.13. However, a correction could see the altcoin drop below $0.1 to $0.09.