Kaspa accumulation phase continues with a 70% volume increase while exhibiting a noticeable bull run in motion. Following the breach of the above trendline, $KAS is poised for a massive 25% surge.
In contrast to the majority of popular altcoins, Kaspa has shown steady growth over the last several months.
Disregarding the bearish trend in the overall market, $KAS establishes a new high at the psychological $0.20 level. The altcoin sees a positive extension as the bullish momentum grows.
With a breakout rally and a higher high formation, the market value of $KAS is getting closer to the $20 billion level. In order to better understand the buying opportunity, let’s examine the breakout event in more detail.
Kaspa has grown 84% year-to-date and set a new all-time high of $0.2064. In the 1W chart, the KAS token has completed a run of four bullish candles and is up 28% during the current upcycle.
A rising wedge formation may be seen by using trendlines to retrace the high and low points in Kaspa. The latest upcycle burst past the resistance trendline, despite numerous reversals. The altcoin is currently up 3.93% intraday to form an engulfing candle that is bullish.
The recent price increase is indicative of an increase in trend momentum, as the daily RSI line approaches the overbought area. Moreover, the overbought nature suggests that the broken trendline may be tested again.
In addition, following days of ambiguity, the MACD and signal lines begin a distinct ascent. The histograms reappear thanks to the crossover, which also shows an increase in underlying demand.
Will $1 Be The Price Of Kaspa?
Kaspa has been among the few altcoins to sustain a bullish trend with few corrections during the past few months. A robust underlying demand for the altcoin is demonstrated by the support trendline in action. Additionally, the general optimism is enhanced by the bullish breakout that unlocked the potential above $0.20.
The Fibonacci retracement levels for the Q2 corrective phase indicate that Kaspa is currently approaching the 1.618% Fib level, or $0.25. Therefore, the Fibonacci levels indicate a 25% increase in the price of $KAS based on the current market price.
