Kaspa indicates a bearish bias, particularly with the potential for further downside if the reverse cup and handle formation plays out. However, there is a possible bounce scenario near the key support around $0.125, which aligns with a long-term ascending trend line. If buying pressure increases, the price could see a bounce from this area, potentially targeting the $0.146 to $0.160 resistance levels.
The 20 EMA (red) is currently below the 200 moving average (purple), indicating continued bearish momentum. The price has recently rejected the 200MA, suggesting that this moving average will be a key resistance level on any bounce. Breaking above the 200MA at $0.146 would be critical for signaling a potential shift in momentum to the upside.
The BB Power indicator shows stronger selling pressure than buying pressure, reflecting ongoing bearish sentiment. This adds weight to the downside risk, though a bounce remains possible if the price holds support at $0.125 and selling pressure weakens.
Additionally, it’s important to keep a close watch on Kaspa since it seems volatile at the moment. Don't doubt the signs but hope for the best for a continuation in the upward trend.
Support - $0.125
Resistance - $0.180
Fear and Greed Index (Binance) - 72 Greed
The 20 EMA (red) is currently below the 200 moving average (purple), indicating continued bearish momentum. The price has recently rejected the 200MA, suggesting that this moving average will be a key resistance level on any bounce. Breaking above the 200MA at $0.146 would be critical for signaling a potential shift in momentum to the upside.
The BB Power indicator shows stronger selling pressure than buying pressure, reflecting ongoing bearish sentiment. This adds weight to the downside risk, though a bounce remains possible if the price holds support at $0.125 and selling pressure weakens.
Additionally, it’s important to keep a close watch on Kaspa since it seems volatile at the moment. Don't doubt the signs but hope for the best for a continuation in the upward trend.
Support - $0.125
Resistance - $0.180
Fear and Greed Index (Binance) - 72 Greed
Note
KASPA is in for a short, favoring bearish momentum. Struggling with buying power is not helping KASPA bounce back on the upside. It broke support and is now testing key support levels, which makes KASPA very volatile. Indicators like BB power and MACD show a lot of selloffs and bearish momentum. Support - $0.121665
Resistance - $0.125104
Note
KASPA is in a downtrend with strong selling pressure. The price nears support levels that mirror May 2024 but is looking to bounce. If KASPA bounces up around 30%, prepare for a reverse cup and handle to form with possibilities of KASPA in price discovery at lower levels. The RSI shows that KASPA has bounced twice from the oversold zone of 20%, signaling a possible bounce in the coming week.Trade active
Kaspa struggles to hit resistance. Selling pressure hit after its bull run this past week, locking in positions that should help Kaspa climb to resistance. A bounce to the upside will help Kaspa hit a Golden cross with the 20 and 200 MA in the coming weeks if Kaspa doesn't face more selling pressure. Going long.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.