Crypto analyst Nebraskangooner talks about the price direction of Kaspa, noting that it is expected to test key resistance today.
The analyst sees the possibility of a KAS price top at the resistance because of the general market sentiment. Many cryptos have been in a downtrend following the price path of Bitcoin and Ethereum.
$KASTesting the key channel high resistance today.Possible top here judging by how the rest of the market has been.If it somehow breaks resistance it can follow the plotted breakout scenario but that seems less likely in current market conditions. pic.twitter.com/yggQ1w4C4v
— Nebraskangooner (@Nebraskangooner) August 2, 2024
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As a result, the analyst thinks this could affect Kaspa’s ability to break above key resistance. Therefore, that point may form the top for the price.
The analyst says that if the price breaks above the resistance, then it can follow the plotted scenario in the chart, which is: a breakout, followed by a retest of the broken resistance, and then a spike to above $3. However, this scenario is less likely.
AltFINS’ Kaspa Price Analysis
AltFINS analysis shows that Kaspa price is in an uptrend. The analysis shows that a bullish breakout above the ascending triangle pattern above $0.2 could trigger a 20% uptrend to $0.24.
Source: altFINS – Start using it today
AltFINS also insists on a breakout before a decisive upward move, saying that short, medium, and long-term trends are up.
The price levels to watch are $0.15 and $0.13 for support, and $0.194 and $0.24 as potential resistance.
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