Kaspa launched its KRC-20 tokens on its mainnet on September 15, 2024. This launch introduces smart contract functionality and allows for the creation and management of tokens on the Kaspa blockchain, similar to token standards found on other platforms like Ethereum.
The KAS price reacted positively to this news and pumped 20% this week. However, the price encountered resistance at $0.18 and is now trading around $0.175.
YouTuber “Clinix Crypto” updated his short-term Kaspa price prediction in a viral video today, sharing his insights with his 70k subscribers.
Kaspa’s Recent Performance
Clinix Crypto highlighted Kaspa’s strong performance after breaking a bearish structure early last week. Since last Monday, Kaspa has gained bullish momentum, especially over the weekend, standing out as one of the strongest performers in the market. While some cryptocurrencies slowed down over the weekend, Kaspa maintained its upward trajectory, indicating solid growth potential.
The YouTuber used wave analysis to explain Kaspa’s price movement, mentioning that Kaspa has shown big impulses, and now there’s potential for a new bullish wave to begin. Specifically, he pointed out that Kaspa could start a third wave, which is typically the most impulsive and significant in a wave cycle. The third wave’s confirmation comes from recent price momentum, with notable buy orders pushing Kaspa’s price higher.
Read also: This Crypto Trader Warns of 47% Kaspa Price Correction – Here’s His Outlook
Kaspa Price Prediction (Short-Term)
Clinix Crypto observed a trend of large buying orders coming in, possibly from a whale or a small group of traders. While this could lead to a short-term price increase, he cautioned that it may also result in a sell-off once the traders reach their desired profit level.
The current strong resistance levels are around $0.18 to $0.19. Historically, this area has acted as a significant barrier for Kaspa’s price growth. The presenter doesn’t expect Kaspa to break through these resistance levels immediately. Instead, he anticipates a pullback before any further upward movement.
This expected pullback could take the Kaspa price down to $0.17 or $0.18, potentially offering a buying opportunity before Kaspa consolidates and pushes higher. After consolidation at the lower support levels, Kaspa could push towards $0.20 and aim for new all-time highs, although the presenter warned that it’s still early to predict this with certainty.
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
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more Visit eToro Now 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.
The post Kaspa Launches KRC-20 Tokens On Its Mainnet, KAS Price Pumps appeared first on CaptainAltcoin.