Layer-1 Coin Kas is today’s top gain in Crypto Market, with nearly 10% surge in the last 24 hours. Price increases are accompanied by increased trading volumes, indicating that momentum is backed by demand from buyers.
The bullish move has led to KAS prices exceeding key resistance levels, hinting at an extended rally as Q2 approaches its end.
Caspa clears the 29-day barrier
KAS/USD’s daily chart measurements show that Altcoin trading exceeds the 20-day index moving average (EMA).
The 20-day EMA measures the average price of assets over the last 20 days, giving more weight to recent prices. If an asset’s price exceeds the moving average of this key, the purchase pressure exceeds the selling and the bias on the asset is positive.
Thus, KAS’s successful breakouts above this level suggest a bullish shift in market sentiment as the second quarter closes.
Additionally, Altcoin’s moving average convergence divergence (MACD) indicators only recorded their first bullish crossover in weeks, bolstering signs of a bullish revival in the market. During pressing, the MACD line of the KAS (blue) is placed above the signal line (orange) to see the change in momentum to the buyer.
MACD indicators identify trends and momentum in price movement. This helps traders find potential purchase or sale signals through a crossover between the MACD line and the signal line.
Like KAS, if the MACD line is above the signal line, it shows bullish momentum, suggesting that the price of the asset could continue to rise.
Kaspa Eyes $0.082 – Can the Bulls maintain control?
At press time, KAS trades for $0.079. As demand continues to rise, the 20-day EMA will act as a support floor, potentially surpassing the price of the token by $0.082 more than the next resistance. A successful break above this level could open the door to earn more profits towards $0.091.
However, this bullish outlook would be void if sell-side pressure gained momentum. In that case, the price of the KAS could be faced with a pullback to $0.069.
Disclaimer
In line with Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. Although Beincrypto is committed to accurate and unbiased reporting, market conditions are subject to change without notice. Always carry out your research and consult with an expert before making any financial decisions. Please note that our terms and conditions, privacy policy and disclaimer have been updated.
