Kaspa (KAS) Price Prediction: Will KAS Recover This Summer?

While the overall crypto market is slumping, crypto analyst Cilinix Crypto has issued a warning for Kaspa (KAS) investors.

Crypto analyst Cilinix Crypto has issued a warning for Kaspa (KAS) investors as the overall crypto market is showing signs of a downturn.

The analyst points out a few factors that have reversed the course of KAS despite expectations of a rise to $0.22 following a breakout above $0.195. The analysis highlights short-term bearish sentiment and suggests that Kaspa is poised for a recovery once the market cools down.

Kaspa Price Dropped to $0.1534 Despite Expectations

In a recent analysis, Cilinix stated that Kaspa price dropped to its current level of $0.1534. The analyst had earlier anticipated a rise to $0.22 following a breakout above $0.195, but the tables have turned.

Cilinix now suggests that a more favorable overall market could have helped in a stronger breakout for Kaspa. The overall crypto market conditions have played a major role in Kaspa’s performance.

According to the analysis, Kaspa has broken below key support levels, particularly around $0.18. These signs indicate a bearish outlook for Kaspa in the short term.

Kaspa Price Prediction for August

CoinCodex has shared the price prediction for Kaspa for August. As per the platform, KAS is predicted to surge 227.55% and hit $0.50975 by August 4, 2024.

CoinCodex also acknowledges that the current sentiment is bearish. The Fear & Greed Index shows a reading of 29, which shows “Fear” in the market.

The platform also highlighted that, over the past 30 days, Kaspa has shown mixed results. The data shows that only 12 out of 30 days (40%) were positive. KAS was also down by almost 15% during this period.

Nevertheless, based on current technical indicators, CoinCodex suggests that it might not be the ideal time to invest in Kaspa.

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