KAS (Kaspa) is outperforming the cryptocurrency market, how high will it go? Cryptocurrency analysis

In this new Wednesday crypto trend, we will focus on cryptocurrency Kaspa (KAS), which operates on the Proof of Work (POW) blockchain and uses DAG (Directed acyclic graph). The asset has been in an upward trend for several weeks, which causes its development va outperformance phase compared to the rest of the market. The community chose to analyze this asset on our social networks and we will determine thresholds to monitor with great attention and bias that should be taken for the coming weeks.

Is a new bullish leg approaching for KAS?

KAS price against the dollar for a weekly time unit (1W)
KAS price against the dollar for a weekly time unit (1W)

On a weekly scale we can see the strength of an uptrend. After a particularly bullish year in 2023, when assets rose from $0.004 to over $0.12, a phase lateralization it was still running between $0.17 (upper limit) and $0.09 (lower limit). Based on the information available in the chart, it appears that KAS ready to take offr for new highs by attempting to break the weekly resistance zone.

If KAS manages to operate a weekly deadline above this technical zone there is a good chance to experience the same dynamics as last November. In this context, we could see the asset gradually taking over way to $0.30. At the moment, the bias is bullish and will remain so until it falls below the lower bound we have identified. Ideally, hopefully in KAS jumper on the resistance zone, which will make it possible to confirm with certainty transition up.

Is the most difficult thing done yet?

KAS price against the dollar on a 3D time unit KAS price against the dollar on a 3D time unit
KAS price against the dollar on a 3D time unit

If we refine our analysis by a second time unit, we can see an upward movement has been running since May with renewal main pivot from 2024 to $0.12. A threshold that KAS has responded to on numerous occasions as support and resistance, the rise of this threshold has shown a strong recovery by buyers facing sellers of the asset. A few days after the pivot was restored, KAS performed a strong bullish candleallowing him to confirm the bullish close above the resistance zone!

At the end of this week will follow a special attention, particularly in the asset’s ability to hold $0.17. In the event of bearish reintegration, which must be absolutely avoided, the uptrend will not be challenged, even if weakened. Whatever happens, it will be appropriate on the 3D time unitavoid passing under the pinit absolutely has to become the main support of the rate to look for new ATH.

More levels to watch?

KAS price against the dollar in daily time unit (1D)KAS price against the dollar in daily time unit (1D)
KAS price against the dollar in daily time unit (1D)

Using the volume profile indicator, we get additional information about the dynamics of the KAS exchange rate. What we can see is that the price then exploded higher maintained above POC (red line placed above pivot 2024). The strong bullish candle is partially explained small volume existing in the past and as a result far fewer sell orders.

KAS is especially near the new ATH closing for this Wednesday. A little effort remains surpass $0.19 and within hours to confirm a brand new high for 2024. In case of rejection, the volume profile clearly demonstrates the confluence of the technical threshold at $0.12/0.15 and its importance: 2024 pivot, Point of Daily Control, High Volume Node.

The situation is obviously developing in favor of KAS investors. Sellers are completely set aside and the asset is poised for a brand new ATH in the next few hours if it manages to move up a bit further. Now you have all the levels to watch over the next few days. If KAS it remains above the old resistance zonehe quietly goes on his way $0.27 (Fibonacci extension). Now that you are up-to-date on the KAS price, if you want to know more about the basic aspect, you still have time to read our article on the subject.

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