$KAS broke major support and could face a significant drop!CRYPTO:KASUSD has been experiencing steady declines after failing to sustain higher levels over the past few months. It recently broke a critical major support trendline, signaling the potential for further downside.
This breakdown occurred after several attempts to push higher were rejected, especially around the $0.20 range, which had acted as strong resistance in the past.
The break below the trendline, which has held strong for months, signals that selling pressure is intensifying.
We're now closely watching how it reacts within the Supply Zone around $0.1251 - $0.1291. A rejection from here could accelerate the move downward.
Key Levels to Watch:
Short Entry Idea 1: Rejection from $0.1291
Short Entry Idea 2: Rejection from 4H SIBI at $0.1257
TP1: $0.1183
TP2: $0.1079
TP3: $0.0915
Expect further downside if CRYPTOCAP:KAS fails to reclaim these levels soon, as we could see it test Major Demand Zones below.
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Disclaimer:
This analysis is for educational and informational purposes only. It is not financial advice, and you should not take it as such. Always conduct your own research and due diligence before making any trading decisions. Markets are highly volatile, and following any chart blindly can lead to significant losses. Trade responsibly and use risk management strategies.
Kasusdsignals
KASUSD Can the 1D Death Cross really save the day???KASPA (KASUSD) has been trading within a Falling Wedge pattern since the July 31 top and is almost on the Higher Lows trend-line that started on the January 23 2024 Low. The key development of the day however, is the formation of the 1D Death Cross, a technically bearish pattern.
Last time it was formed though (May 16), it provided the basis for a strong rally that made a new High. Interestingly enough, the price was also coming off a Falling Wedge at the time that successfully broke above its top. In the meantime the 1D RSI was after a Bullish Divergence, essentially a bottoming process. In fact, it was the same formation of that the Falling Wedge before it (November - December 2023) had, that also broke aggressively above its top.
As a result, we have a potential triple bullish signal and as long as the Higher Lows hold, there are high probabilities of seeing the price break above the Wedge and target at least the previous High at 0.20800.
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KASUSD Starting the rally to $0.4000Kaspa (KASUSD) has been trading within a Parabolic Growth Channel ever since its very first day, always supported by the 1W MA50 (blue trend-line). The 1W RSI recently almost reached 45.00 and rebounded and this week the 1W MACD will most likely complete the new Bullish Cross.
As you can see on this chart, this is a bullish signal for KAS as it is a repetitive pattern within the Parabola. It should technically now enter the green curve rally phase which on the previous 3 occasions made a new High at the top of the Channel.
Our medium-term Target is $0.4000.
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KASPA Still bullish and still strong above the 1D MA200.Back in November (Nov 21 2023) we made a case of why Kaspa (KASUSD) could be imitating Bitcoin's and Ethereum's trend and came up with a logarithmic curve for its growth:
As you can see, in 5 months since then, it has respected this trend-line to perfection. Zooming in on the 1D time-frame, we can see that a shorter term Channel Up pattern is involved. Every time the price broke below the 1D MA50 (blue trend-line) and kept the 1D MA200 (orange trend-line) intact, while the 1D RSI started rising (Bullish Divergence), the market accumulated.
Once it closed a 1D candle back above the 1D MA50, it was a bullish break-out signal. As a result, we are waiting for this break-out to buy and target 0.22500 (+105% rise from the Higher Low).
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KASUSD Pull-back soon, which will be a buy opportunity.Kaspa (KASUSD) has been on a 5-day bullish run as it first consolidated on the 1D MA50 (blue trend-line) and bottom (Higher Lows trend-line) of the 5-month Channel Up, solidifying it as the Support.
The 1D RSI is extremely overbought above 80.00 and soon that should transcend into a technical pull-back. The current rise resembles that of June, which extended to +105%, then pulled-back near the 0.5 Fibonacci retracement level and the 1D MA50 and started the final and most aggressive leg of +155% to the Channel's new Higher High.
As a result we will look to buy at the end of a potential 1 week pull-back and target 0.16000 (estimated +155%).
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KASUSD Rebounded on the 1D MA50 but needs this level asap.Kaspa (KASUSD) is on the 4th straight bullish 1D candle following an exact rebound on the 1D MA50 (blue trend-line). This was the initial bullish signal after a 10 day correction within the Channel Up pattern that started on the May 24 bottom. That was also the bottom of the larger long-term Channel Up.
A similar sequence got rejected on the 0.618 Fibonacci retracement level on April 28 and eventually extended the decline to the -1.0 Fibonacci extension and hit the 1D MA200 (orange trend-line). As a result, if the price closes a 1D candle above the current 0.618 Fib, we will buy the break-out and target 0.1200 long-term (+900% from the May bottom). If it fails on the 0.618 Fib, we will sell and target the 1D MA200 at 0.02700.
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KASUSD Can reach $0.10 in August.Kaspa (KASUSD) continues rising after a rebound on the 1D MA50 (blue trend-line) 10 days ago. Its movement appears to be highly cyclical since it first started trading and we are at the start of the bullish run of the 3rd Cycle.
As long as the 1D MA50 supports, we are long and target 0.10 which is lower than the previous +900% rise but falls within a potential Channel Up that may be established, as each Cycle appears to be getting weaker.
Also the Cycles appear to be highly symmetrical as, based on the 1D RSI, we have completed the first kick-start phase of the run, similar to February 07.
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