Kaspa Price Analysis: Miner Economics, On-Chain Accumulation, and Technical Support Levels

• Kaspa (KAS) is currently trading near multi-year lows around $0.026, reflecting a 96% decline in miner daily income since August 2024 that drives consistent profit-taking .
• On-chain data reveals significant accumulation by large holders, with over 63% of circulating supply remaining unmoved for at least six months, signaling strong investor conviction .
• The asset is testing a critical demand zone between $0.0219 and $0.0279, a historical level that previously triggered a massive rally and offers a potential inflection point for recovery .

Kaspa's current price action is heavily influenced by deteriorating miner economics. Since August 2024, miners have experienced a 96.42% decline in daily income . This financial strain incentivizes miners to sell their earned coins to cover operational costs, creating persistent supply-side pressure . The network hashrate, which declined steadily throughout 2025 and early 2026, has recently recovered from 276.9 PH/s to approximately 320 PH/s in early August . This uptick suggests that reduced network difficulty has incentivized miners to reconnect equipment . Major pools like Humpool, F2Pool, and ViaBTC continue to secure the network despite the challenging financial environment .

Why Is Kaspa Price Diverging From On-Chain Fundamentals?

Despite the price weakness, Kaspa exhibits unusual bullish sentiment on CoinMarketCap . The token recently recorded the highest bullish sentiment among major assets, with 90.5% of voters expressing confidence . This contrasts with typical market behavior where sentiment collapses during prolonged declines . On-chain metrics support this confidence, as Entity X, the largest known holder, has continued to accumulate KAS . The largest entity added 850,000 tokens recently, adding to existing holdings . Supply age analysis shows that 46.9% of circulating supply has remained unmoved for over a year . Furthermore, 63.2% of the supply has not moved for at least six months . This high level of holder patience reduces immediate sell-side pressure .

Ownership is relatively diversified, with over 544,000 addresses holding KAS . The top 1,000 wallets control just 58.80% of the supply . This distribution limits the risk of a single entity dumping large amounts of tokens . User engagement has also improved, with daily active addresses jumping from below 1,000 to approximately 3,000 in early August . Daily transactions have remained stable at around 30,000 . The network's tokenomics are mature, with 27.62 billion of the 28.7 billion maximum supply already in circulation . As more than 95% of the total supply enters circulation, miner selling pressure is expected to ease over time .

Can Kaspa Break Key Resistance To Trigger A Recovery?

Technically, Kaspa is testing the critical $0.025–$0.026 support zone . The asset has underperformed Bitcoin, dropping 1.37% compared to Bitcoin's 0.35% decline in recent sessions . This reflects a broader risk-off shift away from altcoins . Kaspa has formed a potential double bottom near $0.025 . The neckline resistance is located at $0.040–$0.042 . A breakout above this zone could confirm the pattern and open a path toward $0.060 . However, a drop below $0.025 support would invalidate the bullish thesis .

Analysts suggest Kaspa's prolonged bear market may be setting the stage for a significant recovery in 2027 . The analysis identifies a descending triangle pattern with resistance near $0.041 . A confirmed break above the triangle structure near $0.041 is the first major hurdle . Following this, resistance levels are located at $0.053, $0.066, and $0.082 . A recovery from the current lows to the previous all-time high of $0.2083 would represent a roughly 20x increase . Success depends on KAS escaping its current bearish pattern and demonstrating strong rebound volume .

Short-term movements have shown minor correlation with Bitcoin's momentum . Recent bounces have lacked volume confirmation, suggesting they are temporary relief rallies within a larger downtrend . The path of least resistance remains downward unless buying volume surges to defend the $0.025 level . Increased visibility via Google Finance integration also provides structural support by improving data accessibility for mainstream investors . The convergence of improving network metrics and historical support levels presents a potential inflection point for the asset .