The KAS price remained relatively calm this week with a modest 2.5% pump, pushing Kaspa above the $0.17 mark.
As the broader market recovered from earlier crashes, Kaspa’s performance diverged from the trend, a pattern that has repeated several times during this bull run.
YouTuber “Crypto ZX” updated his Kaspa outlook in this latest video. Bitcoin’s increasing dominance has partially contributed to Kaspa’s price decline, as funds often flow from altcoins to Bitcoin during such periods.
Since early August, Kaspa has struggled to break through a key resistance level at $0.173, despite multiple attempts. A successful breakout above this resistance could potentially trigger significant price movement.
Technical Analysis and Market Trends
Kaspa briefly broke above its key resistance level ($0.17 range) but failed to maintain the momentum, resulting in a pullback. However, the previous resistance level now appears to be acting as support, which could be a positive sign for future price movements.
The overall trend for Kaspa remains upward on both daily and weekly timeframes. The technical setup is described as strong, with potential for further gains if key resistance levels are breached.
There is speculation that Kaspa’s absence from many centralized exchanges might be due to its smart contracts not being launched yet. While Kraken has included Kaspa in its roadmap, no official listing has occurred so far.
Crypto ZX cautions against directly comparing Kaspa to major projects like Solana, Ethereum, or Cardano. He emphasizes that while Kaspa shows promise, it still lacks the widespread utility and adoption of these larger networks.
Established projects like Ethereum, Solana, and Cardano have built utility and huge community over the years, with extensive ecosystems, many developers, applications, and active users. For instance, Ethereum is a leading platform for decentralized applications (dApps), smart contracts, and DeFi, while Solana is known for its high throughput and low transaction costs.
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 –
In contrast, Kaspa is still in its early stages and has not yet developed the broad range of use cases or attracted the same level of developer activity as these other platforms. Crypto ZX points out that Ethereum, Solana, and Cardano have been in development for several years, allowing them to refine their technologies, secure their networks, and build extensive communities.
He mentions that Kaspa still has a “long way to go” in terms of development before it can reach the level of maturity seen in these other projects. Even though Kaspa’s technology and tokenomics may be attractive to some investors, the project is still in a speculative phase without the proven track record of its larger counterparts.
Read also: Analyst Updates Kaspa Forecast: Why KAS Price Might Be Headed To $10
Crypto ZX acknowledges that some enthusiastic supporters of Kaspa might be overly optimistic about its immediate potential, but it’s important to maintain a realistic perspective on where Kaspa stands in its journey compared to these larger, more established networks.
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
Don’t invest unless you’re 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: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
The post Kaspa Still Has a ‘Long Way to Go’ to Catch Cardano, Solana, and Other Top Altcoins – Here’s Why appeared first on CaptainAltcoin.
