Kaspa Momentum Builds: KAS to Surge by 50%?

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Kaspa’s price trades at $0.0395 with a bullish bias, up 2% on the day and 19% over the last 30 days, according to data from CoinMarketCap. Its daily trading volume has increased to $22 million, making the KAS token appear among the top trending articles on Wednesday.

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The increasing investor interest in Kaspa followed a listing announcement by Coinex, A California-based crypto exchange. Excited about the news, the Kaspa team informed its users through a post of X, formerly Twitter, of the impending support from Coinex on Tuesday.

Great news for #Kaspa! @coinexcom will list $KAS/#BTC & #KAS/ $USDC trading pairs on August 15, 2023.

Read the full details: https://t.co/O6VfTWaCiM #astest #ProofofWork #L1 #CommonCurrency pic.twitter.com/F1u3KWt5uD

— Kaspa (@KaspaCurrency) August 14, 2023

The announcement on the Coinex website read:

“To provide a wider selection of crypto trading options for CoinEx users, we have decided, after rigorous listing reviews, to list the KAS/BTC and KAS/USDC trading pairs and support Automated Market Making (AMM)on Aug 15, 2023.”

Following the news, KAS, the token native to the Kaspa GHOSTDAG protocol, climbed as much as 13% from $0.0381 to a high of $0.0430 on Tuesday. However, the sellers booked profits on the rally to the 50-four-hour Simple Moving Average (SMA), causing the price to turn down to the current level.

At the time of writing, bulls are fighting to reclaim the support provided by the middle boundary of the descending parallel channel at $0.040. If they succeed, they will be bolstered to push the price higher to confront resistance from the 50 SMA at $0.04156.

Overcoming this level would bring other hurdles into the picture. These are supplier congestion zones at $0.0434, embraced by the upper boundary of the channel, and the 100 SMA at $0.0438. Breaking these levels would confirm an evident bullish breakout clearing the path for a KAS price to rise toward the $0.518 range higher.

In highly ambitious cases, bulls may propel the price to revisit the $0.06 psychological level. This would bring the total profits to 52%.

KAS/USD Four-hour Chart

KASPA Price Chart 2 — TradingView Chart: KAS/USD

The Relative Strength Index (RSI) pointed upwards, indicating that the buyers were re-entering the market. This supported the bullish narrative for the Kaspa cryptocurrency.

On the downside, a four-hour candlestick close below the lower boundary of the descending channel at $0.0372 would be detrimental for the KAS price, which may drop to seek solace from the $0.0343 support wall.

As is the norm, investors are encouraged to conduct thorough research and make responsible investments. The cryptocurrency market’s volatility is well-known, yet this moment could present a valuable opportunity for those who grasp Kaspa’s position.

Other promising investment opportunities are provided by new cryptocurrency in presale with the low risk-to-reward ratio and the potential to make 10X returns in 2023. One of them is discussed next.

KAS Alternatives

Launchpad xyz is an exciting new web3 start-up that is building an “all-in-one” platform to help traders navigate the choppy waters of the crypto market, and its presale just hit a significant milestone.

To fund the development of its revolutionary, community-focused web3 platform, the team behind the Launchpad xyz project has been conducting a presale of its native $LPX token, which platform users will need to own if they want access to the network’s premium features and services.

The presale hit $1.2 million earlier this week and now stands at $1.3 million at the time of writing.

🎉 HUGE NEWS! We’ve just crossed the $1.2 million mark in our #Presale!

A heartfelt thank you to our incredible community. The journey has only begun 🚀

Join the $LPX presale today! ⤵️https://t.co/6qHqqRBG7F #LaunchpadXYZ #Crypto #Web3 #Trade #Alts pic.twitter.com/fZpXciMLVp

— Launchpad.xyz (@launchpadlpx) August 8, 2023

According to Launchpad XYZ’s Whitepaper, the project will begin launching some of the main features of its platform in Q3 2023, including the Launchpad Feed, Token and NFT Directory, Metaverse Library, and Gaming Hub.

If the platform experiences substantial user adoption, as many observers think it will, this could create significant demand for its native $LPX token.

Visit Launchpad XYZ here, connect your wallet, and buy tour $LPX tokens.