Kaspa

Date: Thu, Sept 26, 2024, 09:30 AM GMTThe cryptocurrency market has recently kicked off a bullish rally, fueled by a positive outlook for the fourth quarter and the Federal Reserve&#39;s decision to cut interest rates. Layer 1 tokens like <a href="https://coinsprobe.com/sui-network-sui-are-we-seeing-a-solana-style-2021-bull-run-repeat/" rel="noopener noreferrer nofollow">SUI </a>and <a href="https://coinsprobe.com/sei-breaks-out-with-60-weekly-gains-is-more-rally-on-the-horizon/" rel="noopener noreferrer nofollow">SEI </a>have seen impressive gains of 26% and 37%, respectively, over the past week. However, one prominent Layer 1 token, Kaspa (KAS), hasn&#39;t been able to join the party. Instead, KAS has declined by over 4.8% in the last 30 days.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/ea2e6d3d2cb1424bbd8da2178c14d1c6.png" />Source: CoinmarketcapA key factor behind this downturn is the<a href="https://coinsprobe.com/why-kaspa-is-declining-despite-the-altcoin-rally-heres-why/" rel="noopener noreferrer nofollow"> outflow of funds</a>, as analyzed yesterday. Despite the overall market sentiments, KAS has struggled to keep pace.Today, crypto trader <a href="https://x.com/ApexTrader0/status/1839218097959444521" rel="noopener noreferrer nofollow">&#64;ApexTrader</a> shared his insights, noting that while <a href="https://coinsprobe.com/bittensor-tao-resumes-upward-momentum-following-minor-profit-taking-whats-next/" rel="noopener noreferrer nofollow">altcoins </a>are on the rise and the S&amp;P 500 is gaining, the U.S. dollar&#39;s dominance is dropping. He mentioned that Bitcoin ($BTC) is preparing for another attempt to break through the $65,000 level. In contrast, KAS is lagging behind both the broader market and Bitcoin, indicating that a more significant move might be on the horizon.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/b76ad0caaf3f4e02bfb98b4c9e1f4a73.jpeg" />Credits: ApexTraderMoreover, in a closer look of KAS/BTC chart, he reveals that KAS is currently sitting in a support zone. This could mean that the token is poised for a potential rebound. Traders are closely watching this area, as a breakout could signal a strong upward movement for KAS in the near future.As the market gearing up for October, KAS’s current position may indeed be the calm before a larger wave of activity.Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making any investment decisions.Also Read: <a href="https://coinsprobe.com/bitmarkets-releases-end-year-update-highlighting-key-crypto-game-changers-for-2024/" rel="noopener noreferrer nofollow">BITmarkets Releases End-Year Update Highlighting Key Crypto Game-Changers for 2024</a>

Is KAS's Current Support Zone the Calm Before a Bigger Move?

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