Kaspa Price Drops 2.99% as Selling Pressure Persists

Kaspa's price remains constrained under a downtrend line, currently trading at $0.07518, marking a 2.99% decrease over the past day. The price attempted to break through resistance earlier this week but failed, leading to renewed selling pressure. Momentum is waning, and most daily indicators suggest further downside movement.

The price is hovering around $0.075, just below the critical $0.080 barrier. Yesterday's prediction highlighted the significance of the $0.080 resistance level for any potential breakout. Kaspa's price approached this level but failed to close above it, stalling near $0.078 and printing a red candle, indicating that sellers are still dominant. If the breakout had succeeded, the price could have slid back toward $0.073 or lower, which is the current scenario with volume starting to dip again.

Kaspa's daily overview for June 27 shows a current price of $0.075264, with a 24-hour change of –2.31%. Volume is fading after the recent bounce, and the price remains stuck below a long-term trendline. Support is holding near $0.060–$0.065, suggesting that this range could persist unless there is a significant shift.

Kaspa's chart has been in a downtrend since mid-May, with each rally stopping short at the same sloping trendline. This line has acted as a ceiling for weeks, and the latest attempt to break through did not change this dynamic. The candles show hesitation, and without a strong close above $0.080, this could turn into another failed move. If selling pressure increases, a retest of lower levels is possible.

Technical indicators on the daily timeframe support a bearish outlook. The ADX (14) shows a strong trend strength with a downward trend, while the MACD (12,26) indicates a bearish crossover with weak momentum. The CCI (14) suggests mild selling pressure, and the Ultimate Oscillator shows that bears still have control. The ROC indicates slipping momentum, and the Bull/Bear Power shows that bears are slightly stronger. All indicators lean bearish, with no signs of a bullish reversal or divergence, indicating a continuation of the current trend.

In the bullish scenario, if Kaspa can close above $0.080 with solid volume, there is potential for a run toward $0.090 or even $0.100. However, this has not yet occurred. In the neutral scenario, if the price continues to chop sideways between $0.070 and $0.075, it may remain range-bound until buyers become more aggressive. In the bearish scenario, if Kaspa drops below $0.073 and then $0.067, it could retest the $0.060 zone.

Kaspa's price remains under pressure, bouncing but not breaking out. The trendline around $0.080 is a critical level to watch. As long as the price stays below it, bears will maintain control. Without a surge in volume or a breakout candle, sideways or lower movement is more likely than a breakout today. Key levels to monitor are $0.073 and $0.080.