Kaspa Cryptocurrency Surges 7% Testing Key Resistance Zone

Kaspa, a cryptocurrency that has been in a downtrend for weeks, is showing signs of recovery as it presses against a key resistance zone. The price closed at $0.08708, marking a nearly 7% increase for the day, and is currently testing both a trendline and its 100-day moving average. This resistance zone, ranging from $0.088 to $0.090, has previously rejected the price of KAS, but bulls are now coming in stronger, indicating a potential breakout.

Yesterday's prediction noted that if KAS held the $0.080 support, it would likely move towards $0.09. This prediction held true as buyers defended the $0.080 support, pushing the price towards the key resistance zone. However, the real test for the bulls is happening right now at the trendline. If the price fails to hold the $0.080 support, it could return to the old sideways range between $0.072 and $0.078.

Kaspa's daily snapshot for July 11 shows a current price of $0.0870, a 24-hour change of +6.73%, and a 100-day simple moving average (SMA) of $0.0869, which is now acting as dynamic support. This is the first time in a while that KAS price has traded above its 100-day moving average, indicating that buyers are starting to gain control. However, they still need to break above the downtrend line that has been pushing the price lower since May.

The Kaspa chart shows a descending wedge or triangle pattern, with the price right at the edge of breaking out. The 100-day SMA is acting like a launchpad here. If the price can close above $0.090, it could signal a clean breakout, with the next major resistance around $0.10 to $0.108. However, this is a "make or break" moment. If KAS price fails to break through that trendline, it could pull back and test $0.080 or even $0.075 again.

Technical indicators on the daily timeframe show bullish momentum, with the RSI at 60.88, indicating that the price is not yet overbought. The MACD shows a mild bearish crossover, which may reflect past weakness rather than current strength. The CCI is overbought, indicating a risk of a short-term pullback. The Ultimate Oscillator shows a bullish trend strength, while the ROC indicates strong upward momentum. The Bull/Bear Power shows a slight bullish bias.

In summary, momentum indicators support further upside, though the CCI warns that KAS may be temporarily overbought. The MACD remains slightly bearish, which may reflect past weakness rather than current strength. The outcome of the current session should decide whether KAS shoots higher towards $0.10 or drops back into range-bound action below $0.080.

In the bullish scenario, a close above $0.090 on a daily basis can confirm the breakout, with the next target at $0.10 to $0.108. In the neutral scenario, if the price gets stalled at $0.088–$0.090, KAS price may build between $0.080 and $0.090 in anticipation of more momentum. In the bearish scenario, a rejection at trendline resistance followed by a move below $0.080 could return the price to the $0.072–$0.078 range.