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- 1 Currently, the price is trading at $0.11244, with an intraday decline of -3.42%.
- 2 Displayed negative price performance of -3.80% and -18.07% in previous weeks and months suggests a steady downward trend.
The daily chart for the Kaspa price showed a striking price structure, with a fierce battle between bulls and bears. In the first week of November 2023, the price favored the bulls and rose from the demand zone at $0.050 to $0.190 by February 20th, breaking the $0.100 and $0.150 resistance levels in the process.
However, the Kaspa crypto began to deteriorate after hitting the top supply zone, with the price plummeting from a crucial level of around $0.190 on February 21st, 2024.
Following the declining trendline, the KAS crypto exhibited a severe plunge after touching the resistance supply level and fell to lower levels.
Similarly, despite a significant decline, the KAS asset still shows bearishness and falling capacity as it slides below the considerable trend in the 20-day and 50-day EMA bands. If sellers continue to surge, the drastic decline could extend even more.
The KAS asset reveals bearish signs and may sink even lower, with negative price performance recorded in previous weeks and months at -3.80% and -18.07%, respectively, indicating a steady downward trend.
Currently, the price is trading at $0.11244, with an intraday decline of -3.42%. Therefore, if the price breaks the immediate critical support level of $0.10, it will likely reach even lower depths. However, if the price recovers and breaks the trend line, the above targets for the KAS price would be $0.150 and $0.190.
Kaspa Price, Volume, And Social Dominance Evaluation
Moreover, Kaspa Crypto noted a significant and continuous decline in volume inflow in the last few weeks, along with a fall in price. The average volume has fallen from $150 Million in December to a low volume inflow of nearly $30 Million by the 27th of April.
The intraday volume received was at $60.22 Million, with a surge of nearly 16.78% compared to the previous day. Also, the live market capitalization of KAS crypto was $2.623 Billion, ranking 43rd in the overall crypto market.
Furthermore, the social volume seems to be declining in recent sessions due to the price decline. It indicates a continuation of the ongoing short-term trend. The fall in the social volume also shows the deteriorating awareness of KAS crypto among users.
Summary
The Kaspa price chart displayed a fierce battle between bulls and bears, rising from $0.050 to $0.190 by February 20th, breaking resistance levels at $0.100 and $0.150. However, the price plummeted from $0.190 on February 21st, following a declining trendline.
The KAS crypto showed bearish signs, significantly declining from the 20-day and 50-day EMA bands. Displayed negative price performance of -3.80% and -18.07% in previous weeks and months suggests a steady downward trend.
It is currently trading at $0.11244; a break below $0.10 could lead to further declines, while a recovery could target $0.150 and $0.190. Volume inflow has decreased, with a market capitalization of $2.623 Billion. Social volume decline indicates weakening user awareness.
Technical Levels
Support Levels: $0.10
Resistance Levels: $0.150
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
