Kaspa (KAS) Rises 2.10% in 24 Hours, Tests Key Resistance at $0.090

Kaspa (KAS) has been steadily gaining momentum over the past few weeks, with its price rising from around $0.066 in late June. The cryptocurrency has been forming higher lows and gradually moving upward, currently testing a significant resistance level near $0.090. Traders are closely monitoring whether this level will be breached, indicating a potential breakout.

The 9-day moving average has been trending upwards, and KAS has maintained its position above this level for most of July. While momentum appears strong, a definitive breakout has yet to occur. Yesterday's prediction suggested that if KAS failed to surpass $0.090, it would likely remain within the $0.080 to $0.090 range. This prediction held true as KAS encountered resistance around $0.089, briefly retreating to $0.0874 before buyers stepped in to support the price near $0.083, a key support zone.

As of July 16, KAS is trading at $0.087, reflecting a 2.10% increase over the past 24 hours. The 9-day simple moving average stands at $0.0833, and trading volume remains steady. KAS is forming a rising channel and is approaching a long-term trendline that has resisted major rallies since May. The chart indicates a constructive pattern with higher lows and higher highs, testing a descending trendline from the $0.13 peak in May. Support levels are holding firm, particularly around $0.083–$0.084, just above the 9-day SMA. If this support breaks, the next level is around $0.078.

Technical indicators on the daily timeframe support a bullish outlook. The Relative Strength Index (RSI) at 60.086 suggests bullish momentum without being overbought. The Average Directional Index (ADX) at 36.431 indicates a strong trend, while the Moving Average Convergence Divergence (MACD) at 0.002 shows a slightly positive buy signal. The Commodity Channel Index (CCI) at 95.3294 is near the buy threshold, and the Rate of Change (ROC) at 18.289 points to strong upward movement. The Bull/Bear Power indicator at 0.0062 suggests that bulls have a slight edge. Overall, these indicators point to sustained bullish pressure with no bearish divergences present.

Looking ahead, a close above $0.090 could propel KAS towards $0.098 and potentially even $0.11 if momentum continues. However, if KAS faces rejection at this level, it may continue to trade within the $0.080 to $0.090 range. A slip below $0.080 could shift control back to the bears, with potential support levels at $0.075 or $0.066. The key area to watch is the $0.083–$0.090 zone, as movements within this range could set the tone for the rest of the week. KAS's price action has been characterized by steady, controlled upward movement, with the downtrend line around $0.090 remaining a critical obstacle. Breaching this level could accelerate momentum, making it a pivotal point for traders to monitor.