Kaspa (KAS) Retested Key Resistance Level, Traders Wait For More Corrections.

The post Kaspa (KAS) Retested Key Resistance Level, Traders Wait For More Corrections. appeared first on Coinpedia Fintech News

• Kaspa today is up by 8.04% amid the overall crypto market surge. 
• KAS emerged from the Death Cross zone and retested a key resistance level. 
• If the sellers sustain, the price may rally toward a new resistance of $0.142

Kaspa, the layer 1 blockchain network, was bullish today, the asset currently trading at $0.1322, up by 8% in 24 hours, 13.61% in 7 Days, and 12.53% in a month. 

This surge is seen as the increased investor’s interest, as seen on the Open Interest (OI), a key indicator that shows money flow activity and liquidity. 

Source: Coinglass. 

A surge of $6 million was seen in the OI chart in the past 24 hours, which indicates how investors are pouring money into Kaspa options and futures. 

Kaspa Retested The Key Resistance

Kaspa(KAS) making a zigzag pattern for a week, has today breached the key $0.1329 resistance and pulled back below the level again. This retracement is because of the increasing selling pressure even though the Bitcoin price action is positive.

We can look at the new support zones at $0.111 and $0.106, 

Interestingly most of the technichal indicators show a bullish signal, the RSI at 64 and the Bull Bear Power reading at 0.015 an indication of the price moving toward the neutral zone. 

KAS Volume Isn’t Alongside Price. 

Kaspa’s trading volume spiked 168% in one day and, currently $53.25 million the volume is reached 7 day high today. In contrast to the spike, the price isn’t moving in the same direction, usually considered to be a bearish signal.

Kaspa(KAS) Price Prediction: A Sideway Pattern Is Expected?  

Breaching the key resistance at $0.132 was a good move, and the price now is sitting above all the moving averages is a bullish signal. With the price action now, the coin retesting the zone has turned the momentum to slightly bearish. KAS Price may trade sideways as of mixed indicator revelations. 

Swing traders can enter the positions anywhere in the $0.11 position and trade in the $0,13 window, Trend traders should wait for more corrective phases below the current $0.13 and buy, to expect a rally towards $0,14 and $0.15.