bullish

2024

Bitcoin

Reversal

The post <a href="https://coinpedia.org/price-analysis/against-the-bearish-tides-kas-price-rounding-reversal-eyes-0-28/" rel="noopener noreferrer nofollow">Against The Bearish Tides, KAS Price Rounding Reversal Eyes $0.28&nbsp;</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
As Bitcoin drops under $65K, the broader market pullback intensifies and fuels a correction phase. With $225.34M worth of liquidations in the last 24 hours, $197.80M worth of bullish positions closed. As this puts additional stress on the altcoins, KAS price trend might struggle to continue its uptrend.&nbsp;
With a long-term recovery rally in the daily chart, the KAS token shows a promising price action. So, check out our <a href="https://coinpedia.org/price-prediction/comp-compound-price-prediction/" rel="noopener noreferrer nofollow">KAS price prediction</a> and price analysis below to find out more about the upcoming trend.&nbsp;
<h2 class="wp-block-heading" id="h-kaspa-s-breakout-run-hits-0-20">Kaspa’s Breakout Run Hits $0.20</h2>
With a rounding bottom reversal in the daily chart, the KAS price action overcomes the pullback phase in the 2024 second quarter. The 2x surge with a bullish reversal from the $0.10 psychological support level breaks the higher high formation.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXe6pLfzw666dDymVhTydBrmCiXdOqcxNf0gLfH7VEIt7ny0EsvBKS_3qqxIo4qeAoyR74cy5RuN6vLAXYFRYy3c4UXpXjLqfkRPs2LdJEhu5armZq4W771w6JLwpCAxIxXZandp3rmyOBev4KBJzJYc95I_?key=6FlTMV5foCkSM_sARULY1g" alt="">
</figure>
<a href="https://www.tradingview.com/x/Ephh6KA6/" rel="noopener noreferrer nofollow">Tradingview</a>
In the daily chart, the neckline breakout of the rounding bottom pattern tops the $0.20 mark and creates a streak of bullish candles. Currently, the KAS price trades at $0.2040 with an intraday drop of 0.76%, reflecting a potential retest phase in action.
Completing the retest and making a healthy correction will likely increase Kaspa’s trend momentum for an improved bull run. Further, the rising trading volumes bolster the possibility of an extended uptrend,&nbsp;
Technical Indicators:
RSI Indicator: The daily RSI line is moving diagonally upwards from the halfway line, reflecting the recent demand surge. Further, the RSI line at the overbought boundary teases a potential retest.&nbsp;
MACD: The bullish crossover in the MACD and signal lines ignite the uptrend and head higher.&nbsp;
<h2 class="wp-block-heading" id="h-will-the-kas-price-jump-this-week">Will The KAS Price Jump This Week?</h2>
With a support trendline in action and the recent bullish breakout of the rounding bottom pattern, it increases uptrend chances. Further, a potential surge in the broader market later this week will likely fuel the breakout run in Kaspa.&nbsp;
As per the pivot points standard, the ongoing recovery approaches the $0.22 mark or the R1 pivot resistance. Beyond this, the next two target levels are $0.24 and $0.28.&nbsp;

Against The Bearish Tides, KAS Price Rounding Reversal Eyes $0.28

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