Kaspa

bullish

Bitcoin

Coin

<p>This week, the <strong><a href="https://www.thecoinrepublic.com/price-prediction/kaspa/">Kaspa </a>(KAS) price</strong> reversed sharply from the 200-day EMA mark and lifted over 18% of gains. It defied the selloff and re-entered the bullish channel.</p> 
<p>With the crypto market bouncing back this week, Bitcoin and other altcoins saw a price recovery. Despite the price recovery, a lack of follow-on buying interest was noted. The token was struggling near the 50-day EMA cluster.</p> 
<p>Since the beginning of 2024, the token has formed crystal clear higher high swings. It witnessed a sustained uptrend inside a rising channel.&nbsp;</p> 
<p>However, the token has exited the channel due to sharp volatile activity. It has traded below the trendline mark of $0.1800.</p> 
<p>With a long tail price rejection from the 200-day EMA near $0.1250, a strong support zone, the Kaspa buyers assert dominance over the neckline and bounce back.</p> 
<h2 class="wp-block-heading" id="h-kaspa-kas-price-at-press-time"><strong>Kaspa KAS Price at Press Time</strong></h2> 
<p>At press time, the <strong>Kaspa </strong>was trading at $0.1656 with an intraday surge of 4.06%, reflecting a minor pullback. It has a monthly return ratio of -2.30% and 243.20% yearly, reflecting a long-term bullish trend.</p> 
<p>Per the CoinMarket Cap Data, the token was ranked at 32 with a market cap of $4.02 Billion.</p> 
<h2 class="wp-block-heading" id="h-has-kaspa-s-price-retracement-ended"><strong>Has Kaspa’s Price Retracement Ended?</strong></h2> 
<p>Retracing over 20% from its All-Time-High (ATH) mark of $0.2075, Kaspa found concrete support around the 200-day EMA mark. It pulled back in the last sessions.</p> 
<p>Last week was too volatile for Kaspa. It made an ATH but failed to extend the bullish momentum and faced significant profit booking. Kaspa retested the 61.8% Fib retracement level.</p> <iframe loading="lazy" title="Santiment Chart: Price (KAS), Volume (KAS)" width="800" height="425" src="https://embed.santiment.net/chart?ps=mog-coin&amp;pt=MOG&amp;df=2024-02-09T18%3A29%3A59.322Z&amp;dt=2024-08-09T18%3A29%3A59.322Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bprice_usd%3Bkaspa%3BKAS%5D%3B%5B1%3Bvolume_usd%3Bkaspa%3BKAS%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B" scrolling="no"></iframe> 
<p>Still, the Relative Strength Index (RSI) curve was floating in the oversold trajectory, and a crossover is still pending. Similarly, the MACD indicator projected the red bars and conveyed a bearish stance.</p> 
<p>@Bleeding_Crypto tweeted his bullish view on the Kaspa token.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24KAS&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$KAS</a> By request. Here are my thoughts on <a href="https://twitter.com/search?q=%24KAS&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$KAS</a> <br><br>I’m bullish….. <a href="https://t.co/ZafDirN5hb">pic.twitter.com/ZafDirN5hb</a></p>— Bleeding Crypto (@Bleeding_Crypto) <a href="https://twitter.com/Bleeding_Crypto/status/1821295894974886127?ref_src=twsrc%5Etfw">August 7, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>After the price retracement from its peak, the <strong>KAS token</strong> price suffered from declining volume participation and lower buying interest.&nbsp;</p> 
<p>The decline in the investors’ confidence is due to fear across the market. This led the price to hover close to the 50-day EMA mark.</p> 
<h2 class="wp-block-heading" id="h-kaspa-weighted-sentiment-highlighted-a-positive-shift"><strong>Kaspa Weighted Sentiment Highlighted a Positive Shift</strong></h2> 
<p>Following the price rebound, the weighted sentiment data noted an upmove. It lifted to the positive region at the 0.575 mark, highlighting an improved investor outlook for KAS.</p> <iframe loading="lazy" title="Santiment Chart: Weighted sentiment (Total) (KAS), Social Dominance (KAS)" width="800" height="425" src="https://embed.santiment.net/chart?ps=mog-coin&amp;pt=MOG&amp;df=2024-02-09T18%3A29%3A59.322Z&amp;dt=2024-08-09T18%3A29%3A59.322Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bsentiment_volume_consumed_total%3Bkaspa%3BKAS%5D%3B%5B1%3Bsocial_dominance_total%3Bkaspa%3BKAS%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe> 
<p>Meanwhile, the social dominance curve was projecting the lower investors’ chatter and a declining media buzz on social media platforms.</p> 
<h2 class="wp-block-heading" id="h-funding-rates-looked-negative"><strong>Funding Rates Looked Negative</strong></h2> 
<p>The token’s funding rate plotted negatively, noting around -0.0059%. This represented that sellers had to pay a fee to buyers, which was a sign of bearishness.</p> 
<p>The Open Interest (OI) data and negative funding rates still looked flat. It noted a change of only 0.90% on the short side. Surprisingly, the short liquidations noted a downtick, whereas the long liquidations saw a positive spike.</p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="235" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-96-1024x235.png" alt="Funding Rate Data | Source: Coinglass" class="wp-image-657719" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-96-1024x235.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-96-300x69.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-96-768x177.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-96-150x34.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-96-696x160.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-96-1068x246.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-96.png 1379w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
  Funding Rate Data | Source: Coinglass
 </figcaption>
</figure> 
<p>The token has witnessed an upward price shift, negative funding rates, a lack of OI, and volume metrics. It meant that the KAS token was not ready for a strong upmove.</p> 
<p>If the Kaspa token succeeds in breaking the 50-day EMA mark, it could ascend toward the resistance mark of $0.1860. The $0.2000 mark would follow this.</p> 
<p>Conversely, if it fails, it may see a decline and retest the immediate support zone of $0.1400. It would be followed by $0.1270 ahead.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/08/10/kaspa-kas-price-uptrend-continues-can-it-break-0-2000/">Kaspa (KAS) Price Uptrend Continues: Can It Break $0.2000?</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

Kaspa (KAS) Price Uptrend Continues: Can It Break $0.2000?

Table of Contents

Thecoinrepublic.com

Other articles published on Aug 11, 2024

Dogecoin (DOGE) Jumps 5% Daily, Bitcoin (BTC) Rises Above $61K (Weekend Watch)

Cronos and Revolut Join Forces to Advance Cryptocurrency Education: Insights into the Best Crypto...

Golem's Recent Update Enhances Cloud Computing Efficiency - What Investors Need to Know Alongside...

African Union Approves AI Strategy to Propel Development Across Member States

Exploring the Potential Rise of Ethereum to $3000: Key Factors and Hurdles

Watch Out: 23 Altcoins Have Massive Token Unlock Events in the New Week – Here is the Day by Day,...

Join our free newsletter for daily crypto updates!