Kaspa (KAS) Stands Out in the Market with a 10% Increase: Can the Rally Continue?

The Layer-1 project Kaspa (KAS) has attracted attention with an approximately 10% increase in the last 24 hours. This strong price movement is supported by increased buyer interest and a rise in trading volume. While uncertainty continues in the overall outlook of the crypto market, KAS's technical outlook is giving positive signals.

29-Day Resistance Surpassed: Breakout Above EMA Indicates Strong Buying Pressure

On the daily chart, KAS price has technically crossed an important threshold by surpassing the 20-day exponential moving average (EMA) which it has struggled to break for a long time. This level had been acting as resistance for the past 29 days and has now become a potential support.

Staying above the 20-day EMA indicates that buying pressure has surpassed selling pressure and that the upward momentum is strengthening. Especially since this breakout occurred as we approach the quarter's end, it signals a positive change in market sentiment.

The MACD Indicator Also Supports the Uptrend

The Moving Average Convergence Divergence (MACD) indicator has given a clear bullish crossover for the first time after several weeks of weak signals. The blue MACD line has crossed above the orange signal line, confirming that the trend has turned upward.

This intersection indicates that the short-term momentum in the KAS price is in favor of the bulls and that upward movement may continue. The MACD's signal is typically used to identify potential buying opportunities in advance and is a positive indicator for technical traders.

Target $0.082: The Bulls Have Not Left the Stage

As of now, KAS is trading at around $0.079. If the upward momentum is maintained and the 20-day EMA continues to act as support, the price is likely to test the $0.082 resistance in the short term.

A breakout above this level could initiate a new rally for KAS up to the $0.091 level. However, for the bulls to sustain this momentum, a volume-supported breakout is necessary.

There Are Risks Too: Pay Attention to $0.069

In a negative scenario, if selling pressure increases across the market and KAS falls below the 20-day EMA, the price could retract to $0.069. A correction towards this level could weaken the bullish outlook and remind investors to remain cautious.

Conclusion: Bullish Signals Are Strong, But It Is Wise to Be Cautious

Kaspa is technically in an upward trend, and both the EMA breakout and the MACD signal support this situation. However, for this increase to be sustainable, the overall risk perception in the market also needs to improve. A breakthrough above the $0.082 level could pave the way for new highs, while in a possible pullback, $0.069 stands out as critical support.

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