Kaspa

Coin

Despite the high volatility in the crypto market due to various news reports, Kaspa maintained a solid pathway and kept climbing towards the record high, surpassing all the challenges in the broader market.&nbsp; 
When writing, the KAS price was exchanging hands close to $0.199, recording a mild intraday loss of 2.7%. Despite the intraday loss, Kaspa performed extremely well in the recent sessions, claiming over 14% a week and 90% in the last three months.&nbsp; 
Now, few investors might rush to book profits as the price has approached record highs and has delivered a strong return. Nevertheless, few analysts still find more room for growth of nearly 30% on the higher side.&nbsp; 
<h2 class="wp-block-heading" id="h-weighted-sentiment-curve-looking-for-more-growth">Weighted Sentiment Curve Looking For More Growth</h2> 
Kaspa is a proof-of-work (PoW) cryptocurrency that utilizes the GHOSTDAG protocol. Unlike traditional blockchains, GHOSTDAG allows parallel blocks to coexist and orders them in consensus, making the Kaspa blockchain a blockDAG.&nbsp; 
As per the data obtained from an on-chain analytics website app.santiment.net, there has been an advancement in the positive sentiment curve. The rise in the positive sentiment curve caused the weighted sentiment to rise further in the positive territory, suggesting more room for growth.&nbsp; <iframe loading="lazy" title="Santiment Chart: Negative sentiment (Total) (KAS), Positive sentiment (Total) (KAS), Weighted sentiment (Total) (KAS)" width="800" height="425" src="https://embed.santiment.net/chart?ps=kaspa&amp;pt=KAS&amp;df=2024-05-17T00%3A00%3A00.000Z&amp;dt=2024-08-01T18%3A29%3A59.073Z&amp;emcg=1&amp;emhwm=1&amp;wm=sentiment_negative_total%3Bsentiment_positive_total%3Bsentiment_volume_consumed_total&amp;wax=0%3B1%3B2&amp;wc=%23FF5B5B%3B%23FFCB47%3B%235275FF&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe> 
The weighted sentiment curve highlights the cumulative biases of the traders and investors in the short term. The positive and negative sentiments are separated by a zero line with positive territory above the zero line.&nbsp; 
<h2 class="wp-block-heading" id="h-can-kaspa-price-continue-to-climb-higher">Can Kaspa Price Continue to Climb Higher?</h2> 
From a price action analysis, the KAS price has made a breakout of a notable pattern over the daily chart and has attained record highs. Despite reaching an all-time high (ATH), the analysts are still anticipating a potential of over 30% till $0.25 on the higher side.  
<a href="https://in.tradingview.com/chart/KASUSD/1qV6Rf4n-Kaspa-Price-At-Record-Highs-Can-it-Continue-to-Strive-For-More/"> </a>&nbsp; <a href="https://in.tradingview.com/u/Ritika_TCR/"> </a> &nbsp; <a href="https://in.tradingview.com/"> </a>  
Moreover, the daily chart highlighted a breakout of an ascending triangle pattern, intending a trend continuation. The short-term and long-term trend outlook was positive at press time, which might keep driving the price higher.&nbsp; 
At the time of writing, the MACD and the signal lines were placed above the zero line, indicating the price was hovering in positive territory. The key EMAs were placed below the current market price and may act as support if the price takes a dip. On a combined analysis, the indicators left a positive note in the short term. 
Despite high market volatility, Kaspa has maintained an upward trajectory, reaching record highs. Currently trading near $0.199 with a slight intraday loss of 2.7%, it has gained over 14% in a week and 90% in three months.&nbsp; 
After a strong rally in the past three months, some investors may choose to book profits. However, the analysts see the potential for a 30% rise to the $0.25 level.&nbsp; 
Additionally, the positive sentiment metrics from app.santiment.net suggested further growth. The price action showed a breakout of an ascending triangle pattern, indicating a trend continuation. MACD and key EMAs supported a positive short-term outlook, with indicators suggesting continued upward momentum. 
The post <a href="https://www.thecoinrepublic.com/2024/08/02/kaspa-price-at-record-highs-can-it-continue-to-strive-for-more/">Kaspa Price At Record Highs: Can It Continue to Strive For More</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.

Kaspa Price At Record Highs: Can It Continue to Strive For More

Table of Contents

Thecoinrepublic.com

Other articles published on Aug 2, 2024

Tether Drives Stablecoin Growth to 2-Year High, Market Cap Reaches $164B

Binance Labs Unveils First Batch of Projects in Season 7 Incubation Program

Grayscale in Trouble? Ethereum ETF Outflows Cause Market Volatility

Markets React to Fed’s Rate Decision

XRP Price Slides 10% Amid Rising On-Chain Activity And Whale Transactions; Key Supports In Focus

Understanding September’s Role in Today’s Cryptocurrency Downturn

Join our free newsletter for daily crypto updates!