KASPA Technical Analysis and Trade Plan for 2024

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KASPA is currently forming a **descending triangle pattern**, characterized by lower highs and a horizontal support around **$0.14**. This pattern is typically bearish, but can also lead to an upside breakout, as the price approaches the apex of the triangle.

Key Levels :

- Resistance : $0.145 to $0.15

- Support : $0.14

If the price breaks above the resistance level, it could signal a bullish reversal. Conversely, a break below **$0.14** may trigger a further decline toward **$0.13**.

Indicators to Watch :

- VMAC : Shows potential bullish divergence, indicating building momentum.

- RSI : Near **35.49**, suggesting easing selling pressure and a possible reversal.

- Stochastic Oscillator : Near oversold levels, indicating a potential bullish move.

- Hull Moving Average : Indicates reduced bearish momentum.

Trading Strategies :

- Bullish Scenario : Enter long above **$0.145-$0.15** with targets of **$0.17** and **$0.19**, and a stop loss below **$0.138**.

Bearish Scenario : Enter short below **$0.14** with targets of **$0.13** and **$0.12**, and a stop loss above **$0.145**.

Conclusion :

KASPA is at a critical juncture, with the potential for a breakout in either direction. The oversold conditions and possible bullish divergence lean toward an upside movement, but traders should remain vigilant for any bearish continuation if support levels fail. Monitoring volume during potential breakouts will be essential to confirm the direction and strength of the move.