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- Kaspa surged 3%, reaching $0.065.
- KAS’s daily trading volume dropped by 10%.
A brief uptick in the crypto market has initiated mixed signals across assets. Bitcoin and Ethereum remain near their recent lows. Among altcoins, Kaspa (KAS) shows resilience, climbing over 3.76%.
The recovery attempts of the asset have failed. The shift toward the bullish zone could happen only after testing the crucial levels. In the early hours, Kaspa traded at around $0.06337. The daily low and high were noted at $0.06064 and $0.06776.
At the time of writing, Kaspa traded within the $0.06533 range, with its market cap reaching $1.69 billion. Besides, the daily trading volume of the asset is resting at $113 million.
Will Kaspa Turn Bullish Soon?
Kaspa’s active bearish pressure triggers it to slide toward the crucial zone at around $0.06484. If the asset continues to trade on the downside, the death cross would emerge, losing footing and plunging below the $0.062 mark.
Assuming the ongoing momentum takes a turn, the price could find and test the immediate $0.06639 resistance. The prolonged bullish momentum of Kaspa might likely form a golden cross, paving the way to climb toward $0.069.
The Moving Average Convergence Divergence (MACD) line and the signal line are below the zero line, indicating a bearish momentum with a sign of continued weakness unless there is a bullish crossover.
Moreover, the asset’s Chaikin Money Flow (CMF) indicator resting at 0.03 suggests a slight positive money flow in the market. Meanwhile, Kaspa’s daily trading volume has decreased by over 10.39%.
KAS’s Bull Bear Power (BBP) value of 0.00375 signals a slight bullish sentiment. Besides, the daily relative strength index (RSI) found at 50.63 infers the market is neutral with no strong bullish or bearish momentum.
Disclaimer: The opinion expressed in this article is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.