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<p><a href="https://coinmarketcap.com/currencies/kaspa/" target="_blank" rel="noopener noreferrer nofollow">The price of Kaspa (KAS) </a>has dipped by 20% in the last four days, trading at around $0.156 at the time of writing. However, popular crypto analyst Crypto Chrys believes this dip is nothing but a “bear trap,” urging holders not to panic sell. In his latest YouTube video titled “<a href="https://www.youtube.com/watch?v=ILmDAnZKhSI" target="_blank" rel="noopener noreferrer nofollow">Kaspa: This Is A Huge BEAR TRAP! (Here’s Why),”</a> Chrys explains why he remains bullish on Kaspa despite the recent sell-off.</p>
<p>Chrys expresses his belief that the current situation with Kaspa is a “bear trap” and anticipates a reversal starting next week. He suspects whale manipulation in the Kaspa and Bitcoin markets, expecting a reversal soon. According to Chrys, Kaspa’s price is unlikely to drop below $0.16 for long, and he expects a quick recovery.</p>
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<p><strong><em>Also Read:<a href="https://captainaltcoin.com/floki-inu-announces-building-a-new-school-in-india-floki-price-rally-incoming/" target="_blank" rel="noopener noreferrer nofollow"> Floki Inu Announces Building a New School in India – FLOKI Price Rally Incoming?</a></em></strong></p>
<p>Despite the recent price dip, Chrys highlights several positive indicators for Kaspa’s long-term growth. The project’s hash rate has reached 342.65 P per second, showing consistent growth and increasing mining adoption, which indicates bullish sentiment.</p>
<p>Moreover, the transition to Rust is almost complete, currently at 99.89%. Chrys predicts a bullish month for Kaspa in June, potentially reaching $0.40 or more.</p>
<h2 class="wp-block-heading" id="technical-and-fundamental-analysis">Technical and Fundamental Analysis</h2>
<p>From a technical analysis perspective, Chrys highlights a potential reversal pattern, calling it a “bear trap.” He emphasizes the impact of whale manipulation on Kaspa and Bitcoin and predicts that Kaspa will surpass $0.20 and potentially $0.30 soon.</p>
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 <figcaption class="wp-element-caption"><em>Kaspa: This Is A Huge BEAR TRAP! (Here’s Why)</em>
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<p>On the fundamental side, Chrys cites significant institutional inflows as a sign of upcoming bullish trends. He also mentions El Salvador’s growing Bitcoin holdings, now worth over $400 million, and 18 consecutive days of inflows into Bitcoin spot ETFs, signaling a bullish trend.</p>
<p>Chrys reiterates that the current Kaspa drop is a buying opportunity. He advises viewers to buy Kaspa while it’s still cheap, predicting significant future gains. Kaspa could easily double, reaching $0.40 or more with upcoming market developments, according to Chrys. Additionally, he recommends storing Kaspa in cold storage for safety, specifically mentioning Trezor with a discount code.</p>
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<p>The post <a href="https://captainaltcoin.com/analyst-sees-ongoing-kaspa-price-dip-as-a-bear-trap-explains-why-kas-cant-stay-below-0-16/" rel="noopener noreferrer nofollow">Analyst Sees Ongoing Kaspa Price Dip as a ‘Bear Trap’, Explains Why KAS Can’t Stay Below $0.16</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Analyst Sees Ongoing Kaspa Price Dip as a ‘Bear Trap’, Explains Why KAS Can’t Stay Below $0.16

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