Kaspa (KAS) has entered a consolidation phase following a recent all-time high. Zach Humphries, a crypto analyst, shared insights on Kaspa’s technical indicators and future trajectory in a recent YouTube video.
The crypto asset, with a market cap slightly below $4 billion, has shown resilience despite shifts in the market. Per price data at press time, the token trades at $0.159632.
KAS Technical Indicators Point to Strong Support
Zach Humphries emphasized on crucial KAS technical indicators. Notably, Kaspa’s price recently bounced off the 200-day Exponential Moving Average, a critical support level.
This rebound prevented a potentially severe drop, signaling resilience in the asset’s price action. Furthermore, Kaspa’s hash rate continues to break records, a positive sign for the network’s security and potential future growth.
Humphries compared this trend to BTC’s historical hash rate trajectory, suggesting that Kaspa could experience similar growth patterns in the future.
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Show more +Show less – Market Sentiment and Social Dominance on the Rise
Kaspa’s increasing popularity is not limited to technical metrics; it is also evident in social media discussions.
“Social dominance around Kaspa is ramping up, and it’s organic—big and small influencers, retail investors, and miners are all talking about Kaspa,” Humphries stated.This growing interest is crucial, as it could drive further support for Kaspa’s success in the longer term.
Moreover, the video analysis touched on the potential for Kaspa to attract even more players due to its profitability. The combination of strong technical indicators and rising social sentiment positions Kaspa as a key asset in crypto.
Read also: Is Ripple Ready for Further Upside Action? XRP Price Prediction
Can Kaspa Break into the Top 10?
Humphries remains bullish on Kaspa’s future.
He predicts, “Kaspa wouldn’t take much to get into the top 20, and I still think Kaspa can make its way into the top 10 at some point this year.”
This optimism is driven by Kaspa’s strong mining community and its increasing market presence. With the crypto consolidating and prepare for its next major move upward, it wouldn’t take much for Kaspa to climb the ranks and solidify its position among the top contenders in the crypto market.
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