Bullish Momentum Ahead: Kaspa’s Consolidation Sets the Stage for Growth

Amid ongoing consolidation, expert analysts position Kaspa (KAS) for a bullish market. Analyst Nonfungible’s patience aligns with anticipation of a mid-to end-February high-timeframe breakout, contributing to positive sentiment. Trader CryptoOG, known for accurate crypto signals, highlights Kaspa’s year-to-year growth and potential upside with a $10,000 position.
 

#Kaspa Holds Above Key $0.1 Support After Breakdown Move, Analyst Shares When KAS Will Breakout https://t.co/hlcpwWCsTI

— Cryptolid.io (@Cryptolid_io) February 5, 2024

Despite short-term consolidation and volatility risks, the bullish projection is fueled by Kaspa’s growing ecosystem adoption. The recent pullback is seen as a healthy mean reversion, reinforcing the positive trajectory as long as KAS stays above $0.10, with additional confidence from CryptoOG’s signals supporting favorable projections.

Key Kaspa Levels To Watch – February 5

KASUSD has been declining alongside a diagonal resistance since November 2023. As of now, the year’s low is at $0.07560. The local low formed after a whipsaw occurred, grabbing the sell-side liquidity below the $0.07800 swing low. 

According to the Stochastic Oscillator, KASUSD needs to expand upward as the market is oversold. From the $0.09270 demand zone, a rapid surge is likely to occur, resulting in the invalidation of the diagonal resistance.

KAS/USD Key Levels

Resistance Levels: $0.15550, $0.13000, $0.193500 
Support Levels: $0.09270, $0.07560, $0.05400

Kaspa Metrics

Total Market Capitalization: $1.64T
Kaspa Market Capitalization: $2.5B
Kaspa Volume: $71M
Market Rank: #35

You can purchase Lucky Block here.  Buy LBLOCK

Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, product, or event. We are not responsible for your investment results.