Posting a notable gain in a week, Kaspa is trading back at the top after scaling through several key resistance levels in the past months. It is on the verge of breaking up again as the buyers gain more control.
KAS has shown signs of strength on the macro level following a higher high and higher low formation over the past nine months.
In fact, if we look at the daily chart, the token did not see much drops during the last selling phase which sent many altcoins back to their new multi-month lows. It quickly recovered and continued to trend higher.
Buying pressure has not slowed since it found support at the $0.136 level two weeks ago. It saw a slight rejection yesterday but is now charging back after mounting daily support above $0.176.
The bulls appeared much more formidable with the recent comeback to the top, and from the look of things, the price is likely to explode massively above the current monthly high sooner than later. The $0.3 level is the key target to watch in the upcoming months.
Rejecting this monthly high could facilitate a small retracement before it picks up again. A drop off the monthly low will invalidate the current bullish momentum.
KAS’s Key Levels To Watch
While charging back to reclaim yesterday’s rejected high of $0.1844, it may encounter resistance at $0.193 – the monthly high. A weekly close above this high could fuel a surge to the $0.22 and $0.24 resistances.
If a pullback occurs, the closest support to watch is $0.16. Below it lies the $0.136 level that produced support in the mid-month. There’s also support at $0.12 in case of a breakdown.
Key Resistance Levels: $0.193, $0.22, $0.24
Key Support Levels: $0.16, $0.136, $0.12
- Spot Price: $0.18
- Trend: Bullish
- Volatility: High
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.
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