Kaspa vs. Chainlink – Can RWA Hype Push KAS Ahead of LINK in Q3?

The crypto market is buzzing with talk about two key players: Kaspa and Chainlink. With the rising excitement surrounding Real World Assets (RWA), could this momentum boost Kaspa past Chainlink in the upcoming quarter? This article delves into the potential growth of both coins and what investors might expect in the near future.

Kaspa Price Dynamics: Recent Declines and Key Technical Zones

Kaspa has experienced significant price drops, with a one-month decline of approximately 9.52% and a sharp weekly fall nearing 20.94%. Over the last six months, it has plunged about 46.36%, indicating strong bearish pressure. The continued downward movement highlights a lack of short-term recovery, as the price operates in a challenging environment.

Current prices for Kaspa range between $0.065 and $0.116, facing resistance at $0.149 and a further barrier at $0.201. Strong support is noted at $0.046, a level traders are watching for potential buying opportunities. Technical indicators suggest a bearish outlook, with the Relative Strength Index around 35.42 indicating oversold conditions. Bears have dominated recently, lacking a clear upward trend. Traders might wait for a bounce at support for long positions, while monitoring resistance levels for potential shorting opportunities, implementing risk management strategies along key pivot points.

Chainlink Price Analysis: Recent Downturns and Key Levels in Focus

Prices for Chainlink have dropped significantly, falling 45.15% over the past six months. In the last month alone, the drop is 6.21%, while the last week has seen a sharper decline of 9.72%. Chainlink’s price has fluctuated between $12.14 and $16.89, indicating weakened momentum and increased selling pressure. This ongoing downturn illustrates the struggles faced by the coin amid broader market bearishness, impacting investor sentiment and market stability.

Currently, Chainlink is trading between $12.14 and $16.89, with important levels to watch. Resistance is noted at $19.80, with immediate support at $10.30. Additional levels include secondary resistance at $24.55 and support at $5.55. Bears are currently dominant, as indicated by negative momentum indicators and an RSI of 38.07. The lack of a clear trend suggests that traders should remain cautious, specifically considering short-term strategies near the support level of $10.30 while monitoring for potential breakouts above $19.80 for renewed buying interest.

Conclusion

The hype around real-world asset integration is giving KAS a potential edge. However, LINK's well-established network and partnerships maintain its strong position. KAS is generating excitement with innovative features, but LINK's reliability and existing infrastructure keep it competitive. Both have strengths that attract different investors. The coming months will reveal if the buzz around KAS will push it ahead or if LINK’s stability will prevail.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.