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- The KAS index is up 20.7% in the last seven days.
- All indicators showed strong upward momentum for Kaspa.
In the past month, altcoins have seen a sharp decline, with Bitcoin [BTC] Prices dropped to $60,000. Despite market fluctuations.. when [KAS] Defying market trends and reporting a sustained rise.
The latest rally pushed KAS to ATH after a 20.77% rise in seven days.
At the time of writing, KAS was trading at $0.1896, up 6.4% in 24 hours. Meanwhile, KASPA reported a 45.95% increase in trading volume to $129 million.
according to CoinMarketCapKAS’s market cap rose 6.4% to $4.5 billion, surpassing ICP and PEPE.
This continued increase has left everyone with cryptocurrency analysts anticipating further growth. Famous analysts Proselyte encryption It is one of those companies that is betting big on KAS.
In a post shared on X (formerly Twitter), he stated:
“Can #Casba rise 100x from its current price? The short answer is yes.”
He also explained that,
“According to the Energy Act Support Corridor, which has not been broken since inception, $KAS will reach $18 (100x from now) in June 2029, in just 5 years.”
There are various factors driving this speculation and positive market sentiment. For a start, according to Mr. Kaspa, the KCA20 will be launched. In a post shared on X, Mr. Caspa He mentioned that,
“Today is the day! #KRC20.”
Another factor driving the market is the entry of Marathon, the largest cryptocurrency mining company, into Kaspa mining. According to official reports, Marathon has mined 93 million KAS worth $16 million.
These two developments make everyone excited and optimistic about the future of Kasba.
What do price charts indicate?
Source: Trading View
AMBCrypto analysis indicated that KAS was enjoying strong upward momentum, and the Directional Movement Index (DMI) for KAS proved this.
At the time of writing, the positive index at 31 was higher than the negative index at 24. This showed strong buying pressure and a sustained uptrend.
Source: Trading View
The AO (Awesome Oscillator) also measures the prevailing momentum in the market at the level of 0.021. When the AO is above zero, the short-term momentum is stronger than the long-term momentum, which is a bullish signal.
Source: Queenglass
Looking further, our analysis of Coinglass shows that KAS market sentiment is very positive, with continued upward momentum. Coinglass data showed that the liquidation of short positions is higher than that of long positions.
This showed that investors who bet on the market being unable to sustain losses, while long positions were in a profitable position and continued to hold their positions.
Source: Coinglas
Finally, the open interest volume over the past seven days has increased from $40 million to $69 million.
A rise in open interest shows an increase in activity, resulting in higher trading volume as investors open new long positions while holding existing positions.
This market sentiment shows confidence in the altcoin’s direction and future gains.
is reading when [KAS] Price prediction 2024-25
Is KAS ready for a new ATH?
After breaking through the important resistance level at $0.183 and challenging the all-time high at $0.192, if the bullish momentum continues, it will turn towards the upper resistance level at $0.22 and make a yearly high.
However, if the market faces a correction, the bulls will lose momentum and fall to their support level at $0.160.
