- The Kaspa price has demonstrated a sign of decline as the price sank from a vital downward-facing trendline.
- The technical parameters are displaying bearish characteristics, such as RSI is falling smoothly by taking rejection from 14 SMA.
Kaspa coin is a cryptocurrency project that was developed by DAGLabs, a research and development company that got financing from PolyChain. Kaspa crypto is fully open source, has no central authority, and has no business plan.
The founder is Yonatan Sompolinsky, a computer science Postdoc at Harvard University on the MEV Research Team. Yonatan’s 2013 paper on Ghost protocol is mentioned in the Ethereum Whitepaper.
Kaspa crypto’s core developers and contributors include Shai Wyborski, a cryptography PhD student, Michael Sutton, a computer science expert, Mike Zak, a computer science undergraduate researcher, Elichai Turkel, a cryptography researcher, and Ori Newman, a developer.
All of them have contributed to a great extent to the execution and equilibration of the network. Kaspa is unique in its ability to support high block rates while keeping the security level of proof of work.
Kaspa coin also has a distinctive monetary policy that declines emissions geometrically over time based on the 12-note scale of music. Known as the chromatic phase – this policy commenced on May 7th, 2022 with a block reward of 440 KAS.
The block reward is halved once per year, but smoothly: every month, the block reward is reduced by a factor of (1/2)^ (1/12). This means that the ratio of block rewards in successive months is similar to the ratio of frequencies of two consecutive semitones in a tempered chromatic scale.
The original block reward is the frequency of the note A4, and every averaged year is hence called an octave. The policy dictates how many KAS coins are generated per second despite the block rate.
If Kaspa crypto changes the block rate in the future, the reward will be changed accordingly to keep the same emission rate.
Kaspa network is protected by miners through Proof of Work and uses an algorithm called k-Heavyhash. Heavyhash was chosen for compatibility with Photonic miners when they became available.
What to Expect Next From Kaspa Price on the Daily Chart?
The Kaspa price has demonstrated a sign of decline as the price sank from a vital downward-facing trendline on the charts.
The Kaspa crypto is almost at a drastic slump, as it meets the resistances and dives downward from the weakly high of around $0.1500.
Furthermore, the Kaspa price is displaying negativity and falling pressure as it slumps down from the major trend 20-day EMA. Now, reliant on the seller’s surge in the crypto market, more fall seems imminent.
Also, the technical parameters are displaying bearish characteristics, such as RSI is falling smoothly by taking rejection from 14 SMA, implying that the asset is losing momentum and can achieve new depths.
On the overall chart of the Kaspa coin, it had shown bearish behavior and shows that it has a severe tendency to fall further. On a further note, the KAS coin has attained a lack-lustrous price performance in the last week, and last month, signifying a consistent bearish direction.
Moreover, at the time of publication, the Kaspa price is trading at $0.1051, and the price is trading at the very crucial immediate support, if this breaks the tides will change.
Therefore, the KAS price could continue to move downwards and fall to $0.0505, if it fails to maintain the current level.
On the flip side, if the KAS price sustains the current level and rises, then it might hit the nearest resistance level of $0.1500.
Summary
The Kaspa price has demonstrated a sign of decline as the price fell from a vital downward-facing trendline on the chart. The Kaspa coin chart is bearish. On a further note, the KAS coin has attained a lack-lustrous price performance in the last week, and last month, signifying a consistent bearish direction.
Therefore, the KAS price could continue to move downwards and reach downward around at $0.0505. If it fails to maintain the current level.
Technical Levels
Support Levels: $0.0505
Resistance Levels: $0.1500
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.