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- 1 KAS token price has reached the 200 day EMA mark and is witnessing selling momentum.
- 2 Technical indicators are suggesting a pullback ahead.
The Kaspa price has retested the 200 day EMA mark and is near the crucial support zone of $0.1000 mark. However, the token has not yet breached the zone and decisively holding the gains witnessing bull accumulation in the intraday sessions. The price action shows a descending triangle pattern and the token has reverted to its crucial make or break demand zone near its 200 day EMA mark. If the token breaches the $0.1000 mark, massive selloff can be seen. Conversely, if a rebound happens, the token may retain the upside of $0.1500 ahead.
At press time, the Kaspa token (KAS) price traded at $0.1189 with an intraday gain of 1.89%, reflecting neutrality on the charts. It has a monthly return ratio of -10.78% and 278.28% on a yearly basis. The pair of KAS/BTC is at 0.00000190 BTC, and the market cap is $2.75 Billion. Analysts are neutral and suggest that the KAS token may retain strength and will replicate a bounce soon.
Kaspa Price Volume Profile Analysis On Daily Charts
Per the daily charts of Kaspa token, the price to volume profile showcases a profit booking in the last sessions. The trend is neutral and the token may outperform, if it succeeds retains the midline near $0.1500. The intraday trading volume surged over 40.29% to $59.49 Million revealing investor interest.
Price Volatility and Weighted Sentiment Outlook
Following the price rebound over 1.28% in the intraday session, the price volatility curve reflects a decline over 30.89%, revealing a neutral outlook. However, the weighted sentiment looks negative and stayed below the midline around -0.547.
Social Dominance and Social Volume AI Overview
Social dominance data noted a drop of over 43.28% to 0.099%, dragged to the oversold region over, noting a significant decline in the discussion reports. Similarly, the social volume AI remained below average, noted around 2.
Whale Activity Data and RSI, MACD Insights
The above chart shows that the percent of stablecoin total supply held by the whales displays a consistent up move and surged over 11.87% to 53.947 mark. However, the MACD indicator shows a bearish crossover and reflects red bars on the histogram. Likewise, the RSI curve stayed in the oversold region, and a negative crossover was noted on the charts.
Per the Fib levels, the Kaspa price has reached its 23.6% zone and is witnessing a trend reversal on the charts. The price action shows a death crossover and highlights the bear dominance.
The total supply of the Kaspa token is 23.35 Billion, whereas the volume-to-market cap ratio is 0.0216, and it is ranked 40 in terms of market cap in the global crypto market.
Summary
The Kaspa token price has reverted to the 200 day EMA mark reflecting profit booking in the past few sessions. However, the token has displayed multiple doji candlesticks this week and is anticipating a bounce shortly.
Technical Levels
Support Levels: $0.1000 and $0.0950
Resistance Levels: $0.1280 and $0.1400
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.
