Metric That Triggered 80% Kaspa Price Surge Reemerges, But KAS Could Dip First

Kaspa is experiencing major accumulation between $0.156 and $0.175. According to King Crypto, a similar accumulation occurred between $0.11 and $0.13. Following this, the price spiked by around 78%.

Kaspa (CRYPTO: KAS) price experienced a significant surge of 80% on March 22, fueled by a metric that previously triggered a 78% rally in the coin.

What Happened: As highlighted by King Crypto, a Kaspa community member, the coin has been quietly accumulating between $0.156 and $0.175. This accumulation zone aligns with a prior instance where Kaspa surged by 78% after consolidating between $0.11 and $0.13.

King Crypto hinted at the possibility of a similar surge in the coming days, noting that anything drastically bearish would be needed to halt the price surge.

A closer examination of the Kaspa price chart reveals a trendline support forming since mid-2023, serving as a pivot for price bounces. This support has been crucial for the bulls to acquire liquidity.

The sustained price dips to this trendline support could be a precursor to a major price bounce. Hence, if KAS price breaks below the accumulation support at $0.15, we might see the price retrace to this support.

See More: Best Crypto Charting Tools

Technicals Hint At Mixed Signals: The 50-day Simple Moving Average (SMA) is currently presenting a bearish hurdle to further price advances at around the $0.172 level.

However, on a longer timeframe, the 200-day SMA could act as support for a price bounce as it remains below the current price.

The Relative Strength Index (RSI) is at 48, indicating a neutral zone. This suggests that the price can move in either direction before becoming overbought or oversold, depending on the price movement.

The above is the detailed content of Metric That Triggered 80% Kaspa Price Surge Reemerges, But KAS Could Dip First. For more information, please follow other related articles on the PHP Chinese website!