Kaspa’s (KAS) price action has been worthy a look lately as it edges closer to a pivotal resistance level. Highlighting a year-long consolidation phase and the potential for a breakout, analyst Fibonaccious suggests KAS may soon enter a period of intense upward momentum.
Besides, his tweet underlines $0.18 as a critical threshold, referring to it as a “launchpad” for substantial growth. KAS is currently trading at approximately $0.1507, showing signs of recovery after testing a key support zone.
For over a year, the token has traded within a consolidation range between $0.10 and $0.18. This extended phase reflects sustained accumulation, with many institutional players and long-term holders positioning for potential future gains.
Volume data further supports this view. Recent trading volume at 33.7 billion signals heightened interest, with notable spikes during price movements near support and resistance levels. Historically, these volume trends have aligned with accumulation activity and subsequent price rallies.
Kaspa’s Price Key Support and Resistance Levels
The support range of $0.10–$0.095 has repeatedly proven resilient, with the price bouncing back strongly from this level multiple times. This range has become a strong demand zone, providing a base for the current price structure.
On the upper end, $0.18 is identified as the key resistance. A breakout above this level could pave the way for a rapid ascent, with $0.20 emerging as the next psychological barrier. Beyond $0.18, resistance levels appear sparse, increasing the likelihood of sharp upward movement.
Accumulation and Breakout Potential
The year-long sideways movement in the KAS chart suggests an accumulation phase, often a precursor to large price moves. Fibonaccious, in his tweet, emphasizes the underestimation of KAS’s potential volatility, describing the market’s current positioning as a “launchpad.”
If the token surpasses $0.18, the breakout is expected to trigger FOMO (Fear of Missing Out) among traders, driving increased volume and accelerated price growth.
Read also: This Meme Coin Trader Updates His Shiba Inu (SHIB) Price Prediction
Outlook and Scenarios
Bullish projections suggest that a successful breakout could propel KAS toward $0.25, a 39% rise from $0.18, in the short term. Conversely, a failure to breach $0.18 might result in a retest of the $0.10 support level.
Maintaining this structure will be vital for sustaining bullish momentum, with a breakdown below $0.095 potentially leading to further declines.
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Active user community and social features like news feeds, chats for specific coins available for trading.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
Source link
