- The KAS crypto has given a huge return of 2000% in the last one year.
- KASPA is underperforming the global crypto markets due to a price decline of 10.9% in the last 7 days.
Kaspa (KAS) is a decentralized cryptocurrency that uses blockDAG and GHOSTDAG protocols to achieve high security, scalability, and decentralization. It has no pre-mined coins and offers various features for efficient and fast transactions.
The market cap of the Kaspa crypto has advanced by 2.08% in the last 24 hours, following the increase in the price. Further, the trading volume of the crypto has advanced by 29.89% and it is $54.535M now.
Kaspa has a circulating supply of 22.022B KAS, which is 76.66% of the max supply. The total supply of the crypto is also similar to the circulating supply and its fully diluted market cap is $3.216 Million.
The market cap dominance of the crypto is 0.145%, resulting in a volume/market cap ratio of 0.0202. Besides, the current market cap rank of the crypto is 38th as per Coingecko.
Kaspa Derivatives Data Analytics
The derivatives trading volume of the KAS crypto has advanced by 18.11% in the last 24 hours following an advance of 6.3% in the open interest. The crypto is witnessing a strong fight between the buyers and the sellers, resulting in a long liquidation of $44.62K against the short liquidation of $44.33K.
KAS Crypto Technical Analysis
The KAS crypto price has broken above the crucial ascending triangle pattern and the rising wedge pattern, which were formed at the same time. It led to a strong advance in the crypto price resulting in the formation of a new all-time high. It shows that the crypto price is following a strong uptrend.
KAS/USD Chart by TradingView
The KAS crypto trading price is trading in a golden cross of the EMAs but it is witnessing a decline and is breaking below the 50-day EMA. Moreover, the price is still far away from the 200-day EMA.
The KAS crypto price has declined below the median line of the Bollinger Band, which indicates the possibility of further decline in the price.
The RSI on the daily chart of the KAS crypto has declined below the 50-level and currently trading at 43.07. It is also trading below the 14-day SMA line. That represents weakness in the price but the overall trend of the crypto is still bullish unless the RSI drops below oversold zones.
Conclusion
The KAS crypto price has recently reached a new all-time high, breaking out of two bullish patterns. Technical indicators suggest that the price could resume its uptrend, as long as it holds above the key support levels. Therefore, if the RSI rebounds above the 50-level, we might get to see higher levels in crypto.
Technical Levels
- Support levels- $0.04210 and $0.0870
- Resistance levels- $0.1550 and $0.200
Disclaimer
The views and opinions stated by the author or any other person named in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.