Kaspa Surges 37.5% in a Week, Bulls Charge Ahead

Kaspa, an altcoin, has experienced a significant surge in its price, rising by 37.5% over the past week. This upward momentum has been driven by strong demand, with the coin's price climbing from a local low of $0.08 to a high of $0.112. At the time of writing, Kaspa was trading at $0.11, marking a 37.5% increase on weekly charts.

Before this price pump, Kaspa had been on a downward trajectory, dropping by 24.26% over the past month. The recent trend reversal has sparked questions among the Kaspa community about whether the altcoin can sustain its gains. However, analysis from AMBCrypto suggests that Kaspa is seeing strong demand, which has strengthened the uptrend movement.

The Relative Strength Index (RSI) of Kaspa has steadily risen from 30 to 51 over the past week, indicating that buyers are in control while sellers have exhausted. A rising Relative Vigor Index (RVGI) has also confirmed this upward momentum, signaling strong upward momentum since making a bullish crossover six days ago.

Kaspa investors are bullish across the charts, as reflected by the Aggregated Funding Rate AVG, which has turned positive and settled at 0.0077. This implies that long position holders are optimistic and expect further price gains. The market dominance of long positions, accounting for 62.83% of the futures contract, further evidences this bullishness. A Long-Short Ratio of 1.648 indicates that long positions dominate the market, suggesting that most investors are bullish and expect Kaspa to make more gains.

Kaspa's Circulating Marketcap Dominance has risen over the past two weeks, spiking from 0.07 to 0.08. This rise reflects growing investor confidence, with more capital inflow into Kaspa than other assets. As a result, Kaspa is experiencing strong adoption, ecosystem growth, and favorable market conditions, making the altcoin more attractive to new investors and extending its growth trajectory.

Currently, Kaspa is in an upward momentum with buyers taking control of the market. Strong bullish sentiments prevail, positioning Kaspa well for more gains. If the current trend holds, Kaspa will break out of the $0.11