based on materials from the site -
By BitcoinInfoNews.Com
Kaspa is attracting new interest as traders note signs of accumulation after several months of intense distribution. Analysts link its potential breakout to strong ties of the ecosystem with Ethereum and Arbitrum.
The Kaspa chart presents a classic Wyckoff accumulation pattern. Phase A was marked by a climax and an automatic rally of distribution, which usually signals the beginning of accumulation. Phase C led to the testing of supply through lower highs, while phase C formed a spring pattern and successfully held support at $0.05. This level has been breached several times, indicating strong and growing demand.
Trading volume confirms this. During the accumulation phase, average sales were lower, with spikes in sales mostly marked by green candles. This structure indicates that supply buyers are very strong players. The gap of unfulfilled fair value still holds at just above $0.02, but considering that buyers are positioning themselves at $0.05, the resistance line appears to be at this level, indicating interest from institutional investors.
The next resistance levels are areas to watch. The $0.12 mark is the first breached high. Next, the target becomes $0.16, with a possible stronger breakout if Kaspa can overcome $0.18. This would open the way for growth to $0.22. Traders will be looking for a strong sign of a rally, followed by a retest of the last support level to confirm the breakout. Considering the support from Ethereum and Arbitrum, the setup suggests that Kaspa may be ready for new highs in 2025.
The structure on the chart is bullish, as the Wyckoff phases indicate a potential breakout above $0.22 if the accumulation is completed. Support from Ethereum and Arbitrum adds weight to optimistic forecasts.
#MarketRebound , #Сryptomarketnews
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