Kaspa’s (KAS) price has observed positive signals from its investors, and the larger market has also started to support the rally.
Recent spike highlights a bullish optimism, and at press time, the KAS price has traded at $0.14170 with an intraday surge of +3.53%, with a market capitalization of $3.36 Billion.
Analysis of Kaspa Crypto Derivatives
According to CoinGlass, the recent increase in trading volume for Kaspa crypto indicates a growing interest among traders in the KAS cryptocurrency.
KAS Volume | By Coinglass.com
Mainly, the trading volume of crypto derivatives has increased, reaching a total value of $55.23 Million. The KAS cryptocurrency’s open interest has also increased by 4.66%, reaching approximately $53.42 Million.
KAS Futures OI | By Coinglass.com
The Kaspa crypto experienced a significant increase in long liquidation over the past day, leading to a total of $26.97K. Also, the short liquidation for the Kaspa is worth $14.93K.
KAS Crypto Technical Analysis
Crypto Rand tweeted that Kaspa (KAS) popped out of the pattern and moved towards the main resistance.
Solid $KAS move towards the main resistance on the 15 cents range…consolidation over it would trigger the full bull reversal: pic.twitter.com/lJPlUHA3Mf
— Crypto Rand (@crypto_rand) May 22, 2024
KAS crypto price has broken above the falling wedge pattern and has been on an ascent towards higher levels with robust momentum.
The Kaspa crypto was declining from the swing of $0.1895 formed on February 20th, 2024. The following descent in the KAS asset price was further followed by a lower low swing on the daily chart.
In particular, subsequent price behavior of the crypto led to the formation of a falling wedge pattern, and the price of the asset has further broken out above the pattern with potent volume.
With reference to the daily chart, the 50-day and the 200-day EMAs demonstrate a bullish temperament as the price of the asset has progressed past the dynamic EMAs. Also, the EMAs on the daily chart of the crypto are trading in a golden cross.
The MACD indicator has also supported the bulls, as the histograms on the daily chart are firmly bullish. The MACD and the signal lines have also increased above the zero level.
Furthermore, the RSI has also risen to higher levels with powerful momentum and would hit the overbought zone since it has also broken above the 14-day SMA and has maintained above the 50-level.
On the overall analysis, the levels to keep track of are the support levels of the KAS crypto which are $0.0750 and $0.1011 followed by resistance of $0.1495 and $0.1895.
Summary
Kaspa’s (KAS) price is receiving positive signals from investors, with the larger market supporting the rally. The price chart shows a wedge pattern amid a strong battle between bulls and bears. CoinGlass analysis shows growing interest in KAS crypto, with trading volume reaching $55.23 Million and open interest at $53.42 Million. Long liquidation is at $26.97K, while short liquidation stands at $14.93K.
Technical analysis by Crypto Rand suggests a breakout in Kaspa (KAS) towards main resistance, triggering a robust bull reversal. The price has broken above the falling wedge pattern and is on an upward trend towards higher levels.
The daily chart indicates a bullish trend with the 50-day and 200-day EMAs showing positive momentum. The RSI is rising towards overbought levels, breaking above the 14-day SMA. Support levels to watch are $0.0750 and $0.1011, with resistance at $0.1495 and $0.1895.
