The cryptocurrency Kaspa (KAS/USDT) has experienced fluctuations in its price, with an initial increase followed by a decrease. Technical analysis suggests that there are key support and resistance levels that could impact the price. Analyst dark_knight_btc believes that if KAS can hold above these levels, it may initiate a bullish run. The Relative Strength Index (RSI) currently indicates a neutral momentum state. Kaspa has found support at the 0.786 Fibonacci retracement level, suggesting a potential reversal. There is also a strong support/resistance level at the 0.5 Fibonacci retracement level and the 50-day Simple Moving Average (SMA). Breaking above these levels could lead to further price increases. Additional resistance levels are identified at the 0.382 and 0.236 Fibonacci levels. The analyst notes a bullish crossover in the MACD, indicating rising buying momentum. Higher trading volumes and positive market sentiment, boosted by Bitcoin's strength, also support Kaspa's outlook.
- Content Editor ( thecoinrepublic.com )
- 2024-11-14
Kaspa (KAS) Faces Key Resistance Amid Bullish Momentum