Kaspa (
KAS) Eyes
Key Reversal After 50%
Slide from
All-Time High
As of October 30, Kaspa s (KAS) coin price was trading 50% below its
all-time high. Today, however, the altcoin has gained 8%, partially recovering
from those recent losses.
Following this development, several indicators point to the potential for
KAS s price to continue its upswing. Here s why
Traders Show Renewed Confidence in Kaspa
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Kaspa, a project utilizing the Proof-of-Work• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта (PoW) consensus mechanism,
reached an all-time high of $0.20 before experiencing a significant price
decline. This indicates that many holders took profits from the surge.
Meanwhile, data from Santiment currently reveals that the Weighted Sentiment
for Kaspa has turned positive. This metric reflects market participants
perceptions of the cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта. Further, a positive reading indicates that
the majority of comments surrounding the project are optimistic. Conversely, a
negative sentiment suggests a prevailing belief that the price may not rise .
With the current positive sentiment, it appears that bullish attitudes towards
Kaspa could stimulate increased demand. This shift in perception, combined
with the recent price recovery, suggests a favorable outlook for KAS in the
near term.
Read More: Where To Buy Kaspa (KAS): 3 Best Platforms for 2024
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Kaspa Weighted Sentiment. Source: Santiment
One of the analysts expressing optimism about Kaspa is Miles Deutscher, who
believes that the coin s price could bounce off its current support
level and continue its rally
“KAS is now down -50% from it s yearly highs, despite being one of the
strongest performers for the first half of the year. Now coming down to test a
key support level on the weekly.” Deutscher stated .
In addition to the market sentiment, Open Interest in Kaspa has also
increased, indicating heightened trader activity and interest in the asset.
An increase in Open Interest often suggests that more capital is being
committed to the market, which can signal confidence among traders about a
price increase. This uptick, if sustained, could further support the bullish
outlook for KAS . Kaspa Futures Open Interest. Source: Coinglass
KAS Price Prediction• Математика » Прикладная математика » Прогноз: Breakout Looms
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On the daily chart, bulls have successfully defended the Kaspa coin price at
the critical support level of $0.11, which has proven vital in the recent
rebound. The formation of a falling wedge pattern adds to the bullish
narrative, as it typically signals a potential reversal after a downtrend.
The falling wedge indicates that the selling pressure is waning, with price
movements gradually narrowing, suggesting that buyers are starting to gain
control.
Therefore, if KAS can break above the wedge s upper trendline, it may
trigger further buying interest. If that is the case, KAS’ price might
increase by 44% to hit $0.17.
Read More: Kaspa (KAS) Price Prediction• Математика » Прикладная математика » Прогноз 2024/2025/2030 Kaspa Daily Price
Analysis• Математика » Математический анализ. Source: TradingView
On the contrary, resistance at the upper trendline of the falling wedge might
i nvalidate this prediction• Математика » Прикладная математика » Прогноз. If that happens, the altcoin might drop to $0.10.
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Disclaimer
In line with the Trust Project guidelines, this price analysis• Математика » Математический анализ article is for
informational purposes only and should not be considered financial or
investment advice. BeInCrypto is committed to accurate, unbiased reporting,
but market conditions are subject to change without notice. Always conduct
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