- The price of the Kaspa crypto has advanced by 10.04% in just 24 hours.
- The crypto also has witnessed huge engagement of traders followed by a surge in trading volume.
Kaspa crypto has a market cap ranking of #39 as per CoinMarketCap which results in a market cap dominance of 0.10%.
Kaspa also has witnessed an advance of 115% in its trading in the last 24 hours from the press time. Also, the value of the traded volume for the crypto is $93.141 Million which is 3.2% of its market cap.
Higher Long Liquidation Is Reported In Kaspa Crypto?
Coinglass liquidation chart higher long liquidations in the crypto over the last few days.
In the last 24 hours, the long liquidation recorded for the crypto is worth $73.82K. Despite this, the short liquidation is even less than half resulting in $34.14K. The following activity results in a long/short rato of 1.0048.
The derivatives trading volume for the Kaspa crypto has also advanced by 134% which shows huge engagement of traders in the crypto. This further follows an advance of 18% in the open interest of the crypto.
Social Dominance Vs Social Volume Of Kaspa
The social dominance of crypto followed by the social volume has started to witness a slight advance day by day. This shows that the Kaspa is gaining popularity socially among investors.
What Does KAS Chart Suggest?
The price of the KAS crypto on the daily chart is declining from a dynamic trendline. The following behavior of the price has led to the formation of a descending triangle pattern.
The price of the KAS crypto price is trading inside the triangle pattern and one must wait for the price to break on the higher side. Despite this, if the price of the crypto breaks on the lower side, new lows might be seen in the upcoming days.
The crypto price is currently forming lower low swing on the chart which shows that the bears are currently leading the KAS crypto price. Moreover, if the price breaks above the triangle pattern, it might face resistance at the level of $0.150.
If the price further breaks above the given level and sustains above the same, it might lead to further higher levels.
KAS/USD Chart by TradingView
KAS crypto price is trading above the 200-day EMA but is facing rejection at the 50-day EMA. If the price breaks below the level of $0.100 in the upcoming days, we might get to see the formation of the death cross of EMAs on the chart.
The MACD is already bearish trading in negative territory at significant lows and other oscillators like RSI and stochastic are neutral on the daily chart.
Moreover, the Bull and Bear Power indicator is giving a sell signal and is currently at 0.01405577.
Summary
Kaspa crypto experiences a sudden surge in price and trading activity, but long liquidations increase. Derivatives trading volume spikes, yet the social dominance and volume show a gradual rise.
Technical charts reveal a descending triangle pattern, indicating uncertainty in price direction. Although currently bearish, a break above resistance could lead to higher levels.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.