Can Kaspa Hold Its Ground?

Kaspa is currently trading around $0.09588. KAS’s daily trading volume has surged by 50%. With the mixed sentiment across the crypto assets, Bitcoin, the largest asset, is trading within the $96K range and Ethereum hovers around $1.8K. Among the altcoins, Kaspa (KAS) has registered a spike of over 1%. The shift toward a sturdy bullish zone could happen after testing a series of crucial resistances. In the early hours, Kaspa traded at a low of $0.09531. The daily high of the asset was noted at $0.104. At press time, Kaspa traded at around the $0.09588 level, with a market cap of $2.5 billion. Besides, the daily trading volume of the asset is resting at $85.18 million. Kaspa’s Chart: Signal of Strength or Caution? Kaspa’s active bullish pressure triggers the price could find and test the crucial resistance at the range of $0.09689. The emergence of the golden cross might strengthen the bullish momentum of the asset, opening the gate to mount toward $0.10 and above. If the ongoing momentum of Kaspa takes a turn, it might slip toward the crucial zone at around $0.094. Assuming the asset continues to trade on the downside, it could lose footing and form the death cross, pushing the price to plunge below the $0.09017 mark. The Moving Average Convergence Divergence (MACD) line of KAS is settled above the signal line. It indicates a bullish sentiment, with a sign of continued upside unless there is a bearish crossover. Additionally, Kaspa’s Chaikin Money Flow (CMF) indicator, positioned at -0.03, suggests an outflow of capital, the early signs of weakening momentum. Meanwhile, the daily trading volume is up by over 50%. KAS’s Bull Bear Power (BBP) value of 0.00072 signals the bulls are barely in control of the market. Besides, the daily relative strength index (RSI) resting at 52.75 infers a neutral to slightly bullish momentum. Disclaimer: The opinion expressed in this article is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing. Highlighted Crypto News Pudgy Penguins (PENGU) Makes a Splash Among Top Gainers, Is This the Start of a Major Bull Run? Source: https://thenewscrypto.com/breaking-out-or-breaking-down-can-kaspa-hold-its-ground/