Kaspa is experiencing major accumulation between $0.156 and $0.175. According to King Crypto, a similar accumulation occurred between $0.11 and $0.13. Following this, the price spiked by around 78%.
The post by King Crypto suggests that we could see the same spike in Kaspa in the coming days unless something drastically bearish happens to affect the price.
$KAS / $USDT â 1 DayPay close attention to the @kaspacurrency chart, a serious accumulation is ongoing between $0.156 â $0.175.Las time a similar accumulation occurred between $0.11 and $0.13, $KAS did a 78% pump afterwards.Not sure when we'll break out of this accumulation⊠pic.twitter.com/lq0CUCSzXp
â King Crypto (@__kingcrypto__) August 29, 2024
Ongoing Trendline Support Suggests a Possible Decline
From a broader perspective, the price of Kaspa has been bouncing off a trendline support since mid-2023, and this support has served as the base for price bounces.
The bulls have consistently gotten liquidity from that point; therefore, KAS price may need to dip to that level first before a maor price bounce.
With this, we may see the price retrace back to this support if it breaks below the accumulation support around $0.15.
Read Also: Can XRP Price Really Reach $27? Ripple Analyst Reveals Path
Indicators Show Mixed Signals
The 50-day SMA (yellow wavy line) is currently bearish, serving as resistance against further price growth at around the $0.172 level.
But from a long-term perspective, the 200-day SMA (blue line) could potentially serve as support for a price bounce since it is still below the current price.
Next Meme Coin to Explode? Look No Further If You Are Looking for the Next PEPE or POPCAT
Meet PandaWorld, the new meme coin currently selling at discounted presale prices! The project was inspired by the adventures of six panda siblings, utilizing their unique abilities to bring together gaming, staking, and other features.
Show more +Show less â
The Relative Strength Index (RSI) is at 48, which is around the neutral position. This also shows that the price can move in either direction before it becomes overbought or oversold, depending on where it moves.
Captain just hit his first 100x among a lot 2-5xs. Want to be a part of a profitable community?Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Donât invest unless youâre 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: eToroâs web-based platform and mobile app are user-friendly and easy to navigate.
The post Metric That Triggered 80% Kaspa Price Surge Reemerges, But KAS Could Dip First appeared first on CaptainAltcoin.
