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Kaspa (KAS) Mimics SUI’s Breakout Formation – A Major Upside Move on the Horizon?
The cryptocurrency market is regaining bullish momentum, with Ethereum ($ETH ) surging 15% from its March 11 low of $1,754 to reclaim the $2,000 level. This renewed strength has provided relief to altcoins, many of which have been in a prolonged downtrend over the past three months.
Among the standout performers, Sui ($SUI ) has drawn significant attention from traders after breaking out of a falling wedge pattern, rallying 12% over the past week. Meanwhile, Kaspa (KAS) is exhibiting early signs of a similar breakout, suggesting it could follow SUI’s bullish trajectory.
Kaspa ($KAS) Positioned for a SUI-Like Breakout
SUI’s recent price action confirms a bullish breakout following weeks of decline, with the wedge resistance finally giving way at $2.38. This breakout propelled SUI to a local high of $2.78, signaling renewed buying interest and the potential for further upside.
A comparative analysis of SUI and KAS charts reveals a nearly identical technical setup. Since peaking at $0.1895 on December 8, KAS has been in a steady downtrend, recently bottoming at $0.055 near the wedge’s support level. However, a recent rebound has lifted KAS to $0.076, with price action now pressing against the pattern’s upper boundary.
Should KAS follow the same trajectory as SUI, a confirmed breakout could initially propel the price toward its 50-day moving average (MA), followed by a potential test of the 100-day MA. A successful breach of these key levels would position KAS to challenge the crucial resistance zone at $0.11—representing a potential 45% rally from its current price.
Outlook for Kaspa (KAS)
The broader market’s improving sentiment, combined with KAS’s technical structure, suggests a high probability of an upward move if resistance levels are broken convincingly. Investors and traders should monitor KAS closely for confirmation of a breakout, as it could signal the beginning of a strong bullish phase similar to that observed in SUI.
As momentum builds across the altcoin sector, Kaspa’s price action in the coming days will be crucial in determining whether it can capitalize on the current market resurgence.
Among the standout performers, Sui ($SUI ) has drawn significant attention from traders after breaking out of a falling wedge pattern, rallying 12% over the past week. Meanwhile, Kaspa (KAS) is exhibiting early signs of a similar breakout, suggesting it could follow SUI’s bullish trajectory.
Kaspa ($KAS) Positioned for a SUI-Like Breakout
SUI’s recent price action confirms a bullish breakout following weeks of decline, with the wedge resistance finally giving way at $2.38. This breakout propelled SUI to a local high of $2.78, signaling renewed buying interest and the potential for further upside.
A comparative analysis of SUI and KAS charts reveals a nearly identical technical setup. Since peaking at $0.1895 on December 8, KAS has been in a steady downtrend, recently bottoming at $0.055 near the wedge’s support level. However, a recent rebound has lifted KAS to $0.076, with price action now pressing against the pattern’s upper boundary.
Should KAS follow the same trajectory as SUI, a confirmed breakout could initially propel the price toward its 50-day moving average (MA), followed by a potential test of the 100-day MA. A successful breach of these key levels would position KAS to challenge the crucial resistance zone at $0.11—representing a potential 45% rally from its current price.
Outlook for Kaspa (KAS)
The broader market’s improving sentiment, combined with KAS’s technical structure, suggests a high probability of an upward move if resistance levels are broken convincingly. Investors and traders should monitor KAS closely for confirmation of a breakout, as it could signal the beginning of a strong bullish phase similar to that observed in SUI.
As momentum builds across the altcoin sector, Kaspa’s price action in the coming days will be crucial in determining whether it can capitalize on the current market resurgence.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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