Kaspa Price Eyes $0.070 As Bulls Defend Key $0.064 Support Zone
Key Insights:
- Kaspa surged 3.76% in 24 hours, trading at $0.06533 with a $1.69B market cap.
- RSI at 50.63 and MACD below zero reflect Kaspa’s neutral market position.
- A golden cross may form if bulls break resistance at $0.066 and $0.069.
Kaspa price has continued its measured climb despite volatility across the broader crypto market. The token gained 3.76% in the past 24 hours, trading at $0.06533 with a market capitalization of $1.69 Billion.
This growth occurred even as the daily trading volume dipped 10.39% to $113 Million. While technical indicators remain mixed, bulls held the $0.064 support level.
They attempted to build momentum toward higher resistance targets at $0.066, $0.069, and ultimately $0.070.
Analyst’s Bullish Case for Kaspa Price
Quantum Ascend, a notable crypto analyst, published an optimistic technical outlook for Kaspa. He highlighted a favorable setup for the token during the altcoin season.
The analysis, shared via X, includes a candlestick chart. This shows a long-term bullish structure supported by increasing volume and sustained market interest.
The chart annotated by Quantum Ascend showed continuous build-up and price momentum.
According to the analyst, Kaspa price surpassing the short-term barrier of $0.069 could imply an upward trend.
Strong fundamentals and a positive outlook do support this expectation. At the time of the analysis, Kaspa had a market cap of $1.6 Billion and was ranked 51st among cryptocurrencies. This highlighted its growing status in the altcoin market.
The annotated chart by Quantum Ascend highlighted a consistent accumulation of the coin. This was accompanied by upward price movement. Given robust support, a break above short-term resistance at $0.069 could lead to more Kaspa price rises.
Current Market Dynamics and Support Levels
However, Kaspa price has remained relatively stable when other popular cryptocurrencies like Bitcoin and Ethereum traded at relatively low levels. The token has traded above the $0.06484 level, which can be considered the token’s strong support level.
This zone can be considered a critical defensive line for bulls. If the price goes below this level, it may lead to further correction, raising risks to the lower side for Kaspa.
On the upside, $0.06639 remains the immediate resistance. A break above this level would allow the Kaspa price to attempt a test of the $0.069 barrier.
Surpassing this would bring the token closer to its higher target of $0.070. It is an important milestone that aligns with Quantum Ascend’s primary projection.
Still, there remains a weak trading volume. It suggests evolving sentiment among the commodity players out there. However, the market must recoup ground in a bullish trend for the conditions to stay favorable for further volume support.
Mixed Technical Indicators Reflect Neutral Sentiment
Kaspa’s technical indicators reveal a balanced outlook. From the technical standpoint, Kaspa has favorable technical outlook factors.
The Relative Strength Index (RSI) is 50.63 in the midline. Hence, the stocks are not overbought or oversold. This means there is a balance in the market, and the forces of demand and supply remain balanced.
The MACD continues to be below the zero point, proving the bearish runs in the market. This results from weak bullish pressure, even after the price value has risen for quite some time. A bullish crossover is needed to provide further assurance of the upward trend.
Also, the Chaikin Money flow is at 0.03, which confirms no indication of accumulation. Therefore, a BBP of 0.00375 suggests that the stock has some positive effect but also swings in a bearish way.
Buyers are still active. However, these signs show they are not yet powerful enough to cause the markets to move upward.
When writing, Kaspa price ranged between $0.064 and $0.066, indicating an extended period of consolidation. If buying pressure and volume gain momentum, the price may revisit the $0.070 level.
