Kaspa's Price Rebounds 23% From Long-Term Support Line

Kaspa's price has recently demonstrated a robust rebound from a long-term trendline that has served as a solid support level for over two years. This trendline has been instrumental in maintaining Kaspa's uptrend since early 2022. Historically, whenever Kaspa's price touches this rising line, it tends to recover swiftly, and the latest movement is consistent with this pattern.

Three days ago, Kaspa's price dropped to approximately $0.064 before bouncing back to $0.079. This support area, just above $0.06, has been respected by Kaspa's price since its inception and has never been breached. The chart illustrates a clear uptrend line connecting all major lows, and this recent bounce continues this established pattern.

This long-term support is instilling new confidence among traders, potentially marking the start of a fresh rally. A key indicator to monitor is the MACD, which is showing early signs of turning bullish. After remaining below the zero line for months, the MACD is beginning to curve upward, suggesting a bullish crossover is likely. Historically, such crossovers have triggered upward movements in Kaspa's price, indicating that we may be at the beginning of another significant rally.

The Bollinger Bands also support this bullish outlook. Kaspa has just bounced off the lower band and is moving back toward the middle band. A push to the upper band could bring the price close to its previous all-time high.

Based on the technical setup on the weekly chart, if this bounce continues, Kaspa's price could rally to the $0.2 zone. This would represent a 167% increase from the current level of around $0.079. The chart identifies this price level as a potential target zone, based on the magnitude of the previous rally that originated from the same trendline.

If buyers enter the market and the MACD crossover is confirmed, Kaspa could be poised for a major move. The trendline support remains strong, and the risk-reward ratio appears favorable for bulls. As long as Kaspa's price stays above this rising line, the outlook remains bullish. All eyes are now on whether Kaspa's price can build momentum and move toward $0.2 or even surpass it later this year.