Kaspa

Date: Tue, Nov 12, 2024, 11:11 AM GMTThe cryptocurrency market started today with a surge as Bitcoin (BTC) reached a new all-time high of $89,956. This marks a significant milestone for BTC, as it managed an impressive 25% rally over the past seven days. However, after reaching this peak, BTC has faced a healthy correction and is currently consolidating around the $87,000 range.As is often the case, BTC’s correction has had a ripple effect on other cryptocurrencies, and many altcoins have seen price pullbacks. Among them, Kaspa (KAS) has experienced a decline of over 10% in the last 24 hours.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/fce2accc73f24145ac492e09a69865cc.png" />Source: CoinmarketcapDespite this, KAS appears to be finding key support levels, which could set the stage for a potential rebound if market conditions stabilize.<h3 id="kaspa-kas-finds-key-support">Kaspa (KAS) Finds Key Support</h3>Over the past week, <a href="https://coinsprobe.com/kaspa-kas-regains-bullish-momentum-after-key-support-rebound-is-a-50-move-on-the-horizon/" rel="noopener noreferrer nofollow">Kaspa (KAS) </a>saw a notable upward trend. Since November 5, the price of KAS climbed from a low of $0.1044 to a peak of $0.1615, marking an impressive 50% rally. This surge was likely driven by growing interest in the project, coupled with the overall bullish sentiment in the crypto market.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/55d78891869942888e9c64eda4dbe1c2.png" />However, as KAS approached the $0.16 range, it encountered a rejection. Currently trading at around $0.1387, KAS has found support within the $0.1345 to $0.1405 range. This support level is critical, as it could serve as a base for KAS to consolidate and potentially reverse its recent downtrend.<h3 id="what-to-expect-ahead">What to Expect Ahead?</h3>As of now, the entire crypto market, led by Bitcoin, is in a corrective phase. BTC’s price action is often a key driver for altcoins, so KAS’s next move may be influenced by BTC’s performance. If BTC rebounds from the $87,000 mark, it could spark renewed bullish momentum across the market, creating favorable conditions for KAS to recover from its current correction.For KAS, the immediate support at $0.1345-$0.1405 is crucial. If this level holds, we could see a renewed upward movement, with potential targets around $0.1622 and $0.18. A rise to these levels would represent an upside of over 25% from the current price. Furthermore, a break above $0.18 could lead KAS to challenge its previous highs, but this would depend on continued strength in BTC and broader market sentiment.Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.Also Read: <a href="https://coinsprobe.com/top-depin-tokens-btt-akt-and-aioz-gains-bullish-momentum-following-major-breakouts-is-the-rally-started/" rel="noopener noreferrer nofollow">Top DePIN Tokens BTT, AKT, and AIOZ Gains Bullish Momentum Following Major Breakouts: Is The Rally Started?</a>

Kaspa (KAS) Founds Key Support Following Double-Digit Correction: What to Expect Ahead?

Table of Contents

CoinsProbe

Other articles published on Nov 12, 2024

XRP at $2 Before 24’s End or the Bears Will Retake Control? (Ripple Price Predictions)

Dogecoin (DOGE) Leads Meme Coin Rally With 92% Gains Overtaking XRP, USDC

Can Ethereum Reach $6000 as $1.59B Shorts Face Liquidations?

Deutsche Telekom Joins Forces with This Staking Platform to Pave the Way for Artificial Intellige...

Devcon 7 in Bangkok and its Side Events Day 1

Fruition Productions Renames Ripple Documentary to Reach More Viewers

Join our free newsletter for daily crypto updates!