Kaspa

Future

<ul class="wp-block-list">
 <li>Kaspa (KAS) is down 50% from yearly highs and is currently testing a critical support zone around 0.11.</li>  
 <li>Despite the recent decline, KAS remains 100X up from earlier entries, with analysts optimistic about its future potential.</li>  
 <li>Traders are closely watching for potential rebounds near the 0.11 support level as KAS shows consistent bearish trends.</li> 
</ul>  
<p>Kaspa (KAS) is currently 50% lower than its annual highs currently <a href="https://cryptonewsland.com/algo-turned-resistance-level/" target="_blank" rel="noopener noreferrer nofollow">testing a crucial support level</a>. The price is now at around 0.111012, an 8.44% decrease over the past week. This downturn raises concerns among traders as the asset approaches a key support zone of around 0.11.</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  https://twitter.com/milesdeutscher/status/1851528218135994649
 </div>
</figure>  
<h2 class="wp-block-heading" id="h-price-movements-and-trends">Price Movements and Trends</h2>  
<p>The weekly chart for Kaspa against USDT on the MEXC exchange shows notable price movements. Initially, KAS traded within an upward channel, marked by blue lines. However, recent trading has pushed the price below this channel’s lower boundary. This breakdown <a href="https://cryptonewsland.com/altcoins-in-limbo-why-the-rsi-heatmap-signals-both-opportunity-and-risk/" target="_blank" rel="noopener noreferrer nofollow">indicates a shift in market sentiment</a>, leading to increased selling pressure.</p>  
<p>Throughout the year, Kaspa experienced various peaks and troughs. The asset climbed steadily until early 2024, reaching multiple resistance points. However, mid-year brought a reversal, culminating in a recent decline.&nbsp;</p>  
<p>This new downtrend could signal further price drops if KAS fails to hold above the critical support level at 0.11. Currently, the weekly candles depict a consistent bearish trend with declining highs and lows.</p>  
<h2 class="wp-block-heading" id="h-support-zone-and-future-outlook">Support Zone and Future Outlook</h2>  
<p>The support zone around 0.11 is crucial for KAS. Previously, this level has acted as a base during earlier price movements. As the <a href="https://coinmarketcap.com/currencies/kaspa/" target="_blank" rel="noopener noreferrer nofollow">price</a> approaches this green box zone, watch for potential rebounds. Nevertheless, no signs of reversal have emerged, indicating that the downtrend may continue in the near term.</p>  
<p>Moreover, notable figures in the crypto remain optimistic about KAS's long-term potential. CryptoDoc, a popular analyst, <a href="https://x.com/cryptodoc_/status/1851536181797810645" target="_blank" rel="noopener noreferrer nofollow">suggests</a> bidding around 0.105-0.095, highlighting that KAS is still up 100X from earlier entries. He believes Kaspa could break into the top 10 cryptocurrencies by 2025.</p> 
<p>The post <a href="https://cryptonewsland.com/kas-plummets-50-from-yearly-highs-traders-eye-key-support-at-0-11/" rel="noopener noreferrer nofollow">KAS Plummets 50% from Yearly Highs, Traders Eye Key Support at 0.11</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

KAS Plummets 50% from Yearly Highs, Traders Eye Key Support at 0.11

Table of Contents

Crypto News Land

Other articles published on Oct 31, 2024

GoldenCat: Buy Back OTC at Current Price - Your Opportunity Awaits!

MicroStrategy’s $42 Billion Bitcoin Vision Puts It on the Path to Dominance

Bitcoin Price Rises as Individual Interest Grows

Will Bitcoin Reach New Price Peaks Soon?

This New Meme Coin Presale Has Raised Over $1 Million in Just Weeks and Could be the Next Crypto ...

Qubetics Presale Breaks Records, Near Protocol Expands, and World Liberty Financial Reinforces Bl...

Join our free newsletter for daily crypto updates!