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- 1 Kaspa price prediction has turned bullish and suggests a significant rise in its value is possible.
- 2 KAS price is sustaining above the 50-day EMA showcase uptrend.
- 3 Kaspa crypto price forming a short-term base near the $0.11500 level.
Kaspa price prediction suggests a rise in the short run as well as in the long run. The buyers look aggressive and trying their best to push the price to the new swing highs. The KAS price performed well and rose 155% in November 2023.
The sudden rise in the price is supported by a massive buying volume. It indicates that some big players might have injected the money and accumulated it at lower levels.
The KAS price is sustaining above the 50-day and 200-day EMAs, showcasing an uptrend. In the mid of November, KAS crypto price gave a breakout of the $0.10000 level. It triggered the positive sentiment and created hope for the long-term investors.
Later, the Kaspa crypto price rallied approximately 58% in a short period and hit a swing high at $0.15496. Buyers tried to give the follow up but the price lacked the momentum and entered into a consolidation.
Currently, the Kaspa price is trading at $0.12160 with an intraday decline of -5.42%. In the last 24 hours, the trading volume decreased by 19.40% and the volume to market cap stands at 1.62%.
Will the Rally in Kaspa Price Continue?
Kaspa price is in an uptrend and buyers are continuing their dominance. The chart pattern of this coin looks highly bullish. So, any retracement toward the 50-day EMA will have a high possibility of giving a bounce.
Till the KAS price sustains above the $0.10000 level, the trend will remain up and the possibility of more upside move will open. However, if the situation reverses and the price drops below the $0.10000 level, then bears might come forward and drag the price further down.
The analysis suggests that the Kaspa price is in the bulls’ grip. So, the rally might continue in the coming months.
KAS Price is Returning to the Breakout Level
KAS price is returning back to the breakout level, which is likely to act as a strong support for bulls. The price action says the buyers are active near the demand zone and a minor sell-off will be easily absorbed.
The MACD curve slopes down and the histogram bar is red, indicating mild bearishness. Whereas, the supertrend tells us that till the price holds the $0.10623 level, the short-term trend will remain upward.
Conclusion
Kaspa price prediction stays bullish for 2024 and suggests bulls will continue their dominance. KAS price looks cheap and trading at attractive levels so investors may look to buy for generating nominal returns.
Technical levels
- Resistance levels: $0.15496 and $0.18000
- Support levels: $0.10000 and $0.08000
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.