- KAS has declined by 11.80% in the last 7 days.
- Despite the decline, the trend remains uptrend.
On 30th June, KAS reported a 20% surge after days as reported by AMBCrypto. However, a week later, KASPA declined by 11.80% causing panic among KASPA long-term holders.
Despite the decline, the market remains optimistic with positive market sentiment. Thus, various analysts predict a surge in market cap. KAS market cap has surged over 30 days, surpassing PEPE and ICP.
A crypto analyst @Sukie shared his projections on X (formerly Twitter), noting that,
“It’s not being a moon boy that $KAS can reach $100B+ MC. In 2017, bull $XRP reached $130B when there was ALOT less money in the market. Last bull run $BNB went from $3B to $108B MC. No other Crypto beats Kaspa’s fundamentals.”
Based on historical data, KAS is positioned to experience exponential growth in Market cap. Generally, Market cap growth implies KAS prices and user activity will continue to surge for the foreseeable future.
Market sentiment
Source: Market Prophit
According to Market Prophit, KASPA is continually enjoying a positive market sentiment.
In fact, the crowd sentiment is 0.06 with a Z-score of 0.35, while the overall market sentiment is 0.07. The positive market sentiment shows users and investors are optimistic about KASPA’s future potential.
What KAS price charts indicates
As of this writing, KAS’s Aroon line shows a strong uptrend. Specifically, the aroon up at 50 sits above the aroon down at 7.
When the Aroon line is set like this, it shows the uptrend is strong and is positioned to continue. Equally, it shows the prices are within the market value.
Source: Tradingview
The Directional Movement Index further supports this. At press time, the positive index at 22 (blue) is above the negative index (red) at 21.
This setup implies KASPA is in a good position, and continued positive market sentiment positions it for a further uptrend.
Source: Tradingview
Looking at the OI-weighted funding rate, AMBCrypto’s analysis indicates it has been largely positive for the last seven days.
Positive weighted funding rates imply the demand for long positions is higher than for short positions. Thus, traders pay a premium to hold their positions, which is a bullish sentiment.
Source: Coinglass
Can KAS maintain its uptrend?
Kaspa’s analysis by AMBCrypto indicates that the price movements remain largely in an uptrend. After reaching the all-time high of $0.194, KAS experienced a short-term decline in price while the trend remained unchanged.
At press time, KAS trades at $0.1688 after a 1.64% increase in 24 hrs. After previously hitting the $0.194 resistance level, a break out from the zone would see prices surge to a new all-time high of $0.23.
Consequently, if the losses in the weekly charts persist, the price will decline to the $0.15 support level.