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Kaspa’s price recently pumped by 19%, leading it to $0.1261 as of 5 AM EST, while the token’s daily volume skyrocketed by 125%, reaching $78 million as of the time of writing.
Since reaching this level, KAS’s price dropped by 7% to $0.1222, as the resistance rejected its price at $0.125.
The token’s price surge came around when the rest of the crypto industry had slipped into negative territory following a notable price surge on December 28.
The recent market volatility was caused by another wave of Bitcoin spot ETF hype, as many expect it to be approved in early January 2024.
Some experts have also attributed the current bearish wave to the holiday mood, which might result in whales and other investors staying on the sidelines.
While Kaspa saw a somewhat late price surge, the current correction indicates that the token is succumbing to the broader market sentiment.
While the token did show initial resilience to the bearish sentiment of the broader crypto market, its current performance suggests that this has started to change.
Kaspa Price Forecast
Kaspa (KAS) saw a considerable price increase in the last 24 hours, going from $0.105 to almost $0.130 several hours ago. Since then, however, its price saw a correction, and after another attempt to reach the targeted level of $0.130, its price saw a sharp correction.
The token is considered to be quite strong, and it recently broke out of a consolidation period.
Experts believe that it is worth longing and that its price will see another significant bull run after first experiencing a minor correction, as seen in the chart below.
So far, the correction appears to be in full swing, meaning a rise might also be expected soon. There have also been specific technical signals to support this, such as the significant widening of Bollinger bands, which is a strong bullish signal.
It is also worth noting that the token’s Relative Strength Index (RSI) score has reached 48.66, moving from an overbought territory toward a neutral one.
If the RSI score continues to sink, it will quickly reach the oversold territory, which might be when the opportunity seekers might swoop in to buy the dip and, in doing so, trigger another bull run.
The token’s value seems to be spiraling toward $0.115, which might stop it from moving further down.
However, there remains a possibility that KAS’s price will breach this resistance-turned-support and continue its descent to $0.105 — a level that has been acting as strong support throughout the past seven days.
In this case, KAS will have nullified its progress in the past 24 hours, but this might also give it a chance to bounce back up.
Promising Alternative To Kaspa
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According to its platform, it is fully licensed and 100% safe, allowing users an easy way to check out its license.
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Furthermore, it had a highly successful presale, which raised $5 million, attracting investors and players with several highly desired features.
One of the most attractive ones is the offer of 25% cashback on all losses the users experience while betting TGC tokens.
The token was sold for $0.19, but many of its supporters expect a strong price surge fueled by demand. Since this will be the primary token for betting in TGCasino, it will be purchased regularly as the casino continues to attract new users.
Apart from the cashback, the platform also promised special rewards for presale buyers, the ability to become a high roller by investing $5k+ in TGC presales, and the ability to earn passive income by taking the token.
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