Crypto analyst ParabolicPump account on X forecasts new all-time highs for Kaspa (KAS), citing sustained sideways trading and strong accumulation patterns.
The digital asset trades at $0.1584, marking a 5.68% increase in 24 hours and an 8.24% weekly gain, according to CoinGecko data.
Kaspa maintains steady trading activity with a 24-hour volume of $156,342,579. The token’s price movement demonstrates growing market interest as it breaks out of previous trading ranges.
The market data shows sustained buying pressure across major crypto exchanges.
$KAS – @KaspaCurrency NEW ALL TIME HIGHS – LOADING…ReminderThe time to accumulate cheap $KAS is running out!Parabolic price action for $KAS is only just a matter of time.Above the old all time highs, we'll only be seeing minimal pullbacksBe positioned… pic.twitter.com/4NHEzTcU2Q
— ParabolicPump (@ParabolicPump) November 22, 2024
ParabolicPump notes that KAS has traded sideways for approximately one year. This consolidation period aligns with typical market behavior before price movements.
The analyst suggests that large-scale investors have accumulated substantial positions during this phase.
KAS Technical Analysis and Market Structure
The analyst’s technical assessment focuses on resistance levels and price action patterns. A key observation centers on the absence of resistance barriers above previous all-time highs.
The analysis points to a breakout from what ParabolicPump describes as a “green channel,” followed by bullish price movement. ParabolicPump shares their trading strategy, which involves placing limit orders in specific price zones.
The analyst distributed these insights through the CryptoCapitalAI Telegram community. The strategic approach emphasizes patient accumulation during sideways price action.
Read also: Why Is Stellar (XLM) Price Up?
Future Market Projections
Current market data and trading patterns suggest potential upward movement for KAS. The token’s market performance attracts attention from traders and investors watching for breakout opportunities.
Trading volumes indicate active market participation across various exchanges and trading pairs. The analyst projects possible entry into the top 10-20 cryptocurrencies by market cap. This projection stems from analysis of current market metrics and trading patterns.
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The post Kaspa (KAS) Shows Strong Market Momentum as Analyst Predicts New All-Time Highs appeared first on CaptainAltcoin.