The Kaspa price forecast for January 2024 is bearish as the price is breaking below the key moving averages. The Bears have looked aggressive in the last few trading sessions, pulling the price down.
The price action of the Kaspa crypto demonstrated that the selling force was noted on the charts and the price was in a bearishness, forming a lower lows structure over the past few months.
Furthermore, the Kaspa showed a negative sentiment for the crypto and led to bearishness in the charts.
The ongoing trend favors sellers and the crypto was also in a corrective stage, which made buyers cautious. Moreover, the Kaspa price is trading below the significant moving averages and trying to attain the 50-day EMA to hold the gains.
At the time of writing, the Kaspa price is trading at $0.101070 with an intraday decline of 2.78%, showing probably a bounceback from the lower trendline near the support mark of $0.095521. Furthermore, the intraday trading volume is $29.641 Million and the market cap is $2.261 Billion.
This cryptocurrency has had an unsatisfactory performance over the years. Year-to-date it gave negative returns of 9.76% and 159.52% in 6 months. In the last 1 month, it gave a negative return of 5.22% and 17.74% in the last seven days. Indicating a long bearish trend continuing till now.
Technical Analysis of Kaspa Crypto Price in 1-D Timeframe
At the time of publishing, Kaspa crypto (USD: KAS) is trading below the 20 and 50-day EMAs (exponential moving averages), which do not support the price trend.
The MACD line at -0.002046 and the signal line at -0.000961, are above the zero line. A bearish crossover is observed in the MACD indicator, which signals more bearishness for the KAS crypto price.
The current value of RSI is 39.57 points. The 14 SMA is above the median line at 48.15 points, which indicates that the Kaspa crypto is bearish.
The Kaspa Price Technical Evaluation of a 4-Hour Time Frame
On the 4-hour charts, the Kaspa price is stuck in a narrow range and does not signal an upcoming rise because of low volume levels. Moreover, a key indicator is still in the bearish range and does not signal bullishness.
The RSI curve is near 30, in the negative range, and showed a bearish move on the short-term charts. The MACD indicator still showed red bars on the histogram with a bearish crossover and did not signal any substantial upswing.
Summary
Kaspa (USD: KAS) technical oscillators support the bearish trend. The MACD, RSI, and EMA highlight negative signs and imply that the downtrend may continue in the KAS crypto price. Kaspa Price action indicates that the investors and traders are bearish on the 1-D time frame. The price action reflects a bearish perspective at the moment.
Technical Levels
Support Levels: $0.075830.
Resistance Levels: $0.128899.
