In a video analysis, YouTuber C-Zar Gets Crypto discussed the future price movements of Kaspa (KAS), focusing on indicators and potential targets. Despite some bearish signals, he highlighted the possibility of KAS reaching higher prices, provided it holds key support levels.
Bearish Divergence and Monthly Chart Observations
The video begins with an analysis of the monthly chart, where C-Zar noted the presence of double bearish divergence.
According to his explanation, Kaspa had formed two lower highs after three peaks, signaling a bearish outlook. However, the divergence may have already “fulfilled,” as KAS has retraced back to the initial divergence point.
Although this bearish divergence is not an encouraging sign, C-Zar believes that if KAS avoids breaking below a key low point (around 12.53 cents), it could still see higher price action in the future. He remains cautiously optimistic, advising viewers to monitor the critical levels on the chart.
Weekly Chart and Key Support Levels
On the weekly chart, C-Zar highlighted the Relative Strength Index (RSI) for KAS, which hovers near 50, indicating a potential area of support. He pointed out that KAS has historically respected this level, suggesting that it could provide the foundation for further upward movement.
Fibonacci retracement levels were also discussed, with C-Zar emphasizing that KAS must hold above critical areas to avoid further declines. He noted that as long as KAS remains above the key support at 12.53 cents, it could continue to consolidate before experiencing a potential rally.
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KAS Price Predictions and Resistance Levels
C-Zar provided potential price targets for Kaspa in his analysis. For the short term, he expects prices to range between 24 and 28 cents. Besides, on longer-term projections he suggests a potential move to 40-47 cents. These predictions depend on KAS breaking through key resistance levels, particularly around 19.6 cents.
The speaker explained that a break and sustained hold above this level would likely pave the way for KAS to hit the higher target zones, provided the market conditions remain favorable.
Fibonacci Levels and Long-term Outlook
C-Zar emphasized the importance of the 618 Fibonacci retracement level, which has been respected in previous price actions. He believes this level is critical for Kaspa’s future price growth, with the potential for further bullish movement if it holds.
Looking ahead, C-Zar anticipates that Kaspa could reach between 30 and 50 cents by early 2025, assuming it maintains its current momentum. However, he also advised caution, as any close below critical support on the weekly chart could signal a bearish reversal.
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The post Kaspa (KAS) Price Surge Ahead? Analysis Predicts Potential Rally, But There’s a Catch appeared first on CaptainAltcoin.