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The Kaspa price has plunged 14% in a week and 2% in the last 24 hours to trade at $0.1131 as of 03:37 a.m. EST on trading volume that edged up 5% to $108.8 million.
This comes amid what seems like a bull v bear battle, with bullish investors seeing the continued downtrend as a buying opportunity while bearish traders anticipate a continued downtrend.
Kaspa Price Prediction: Could KAS Rebound From The Current Bearish Trend?
The Kaspa price chart has shown a downtrend since October, evident by the lower highs and lower lows forming a descending channel. According to data from GeckoTerminal, the bears took full control of the asset within the $0.15 resistance.
KAS bulls could have utilized the death cross around $0.1620, as the 50-day Simple Moving Average (SMA) crosses below the 200-day SMA. With the recent downtrend, the Kaspa price trades below both SMAs, a testament to the continued bearish stance.
The Relative Strength Index (RSI) is around 44.79, which is just below the neutral 50 level. This reading indicates mild bearish momentum, but it’s not in oversold territory (below 30), suggesting that there might still be room for further downside before hitting oversold levels. However, there was a slight bounce on the RSI recently, hinting at a small relief rally that might be limited by the overhead resistance of the channel and moving averages.
The MACD line (blue) is close to the signal line (orange) and slightly positive at 0.0003, with the histogram showing minimal divergence. This setup suggests weak bullish momentum but lacks the strength to indicate a significant reversal.
According to the KASUSD chart analysis, the price of Kaspa is poised for a bullish trend reversal. The bulls aim to capitalize on positive technical indicators, including the RSI and MACD, to propel the price. If this scenario successfully happens, KAS could rise above the upper boundary of the channel, as the bulls target the $0.14 resistance.
If the bears continue pushing the price down, the Kaspa price could plunge further to the $0.10 support zone.
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