Kas jumped almost 28% in the past day when it tried to break out of the downward trend in which it has been detained since last December.
Kaspa (Kas) rose to an intraday height of $ 0.074, which brought his market cap staircase to almost $ 2 billion earlier today, with his daily trading volume almost doubled to $ 188 million from the moment of press.
The profits of today in particular come after a long downward trend, where KAS touches lower highlights and lower lows since he reached $ 0.188 on December 9 last year. The Altcoin still remains 68% below the all time, about levels for the last time in early November 2023.
The most important catalyst that feeds today’s profits comes as a crypto -data aggregator coinmarketcap added Kas to the ‘Made in America’ category yesterday.
Although Kaspa has been decentralized and developers from all over the world, the list of CMC has attracted the attention of investors because some members of the crypto community speculate that the current US government, led by President Donald Trump, can eliminate the power gain tax on the American cryptocurrency projects.
Another important factor behind Kaspa’s recent profit are the promising results of his crescendo -upgrade, currently in the test network phase.
According to an official March 10 X afterKaspa’s Testnet 10 has successfully switched to 10 BPS, a significant increase compared to the current 1 BPS on the Mairet. The milestone keeps Kaspa on the right track to achieve its scalability goals.
In addition, members of the Caspa community have emphasized the low transaction costs, which enable the transfer of millions between portfolios at minimal costs. The fast and cost -effective transactions can be more interested in KAS and influence its recent price movement.
The rally also coincides with a shift in social sentiment around Kas, which has become positive, according to santiment data, which means that most of the discussions about KA’s Bullish are.
Cash -price analysis
Technical indicators suggest a bearish prospect for greenhouse. The relative strength index is lower than 50, while the advancing average convergence/divergence (MACD) is below 0.
Moreover, the Supertrend -indicator has also turned red and is placed above the price level, which confirms that the market is still under pressure from bears.
Therefore, if the current Bearish conditions persist, the price of cash could probably fall back on the support range from $ 0.048 to $ 0.057, which has served as an important level of support.
However, a strong break above the falling resistance trend line, which has been present since 9 December, can mark a bullish reversal, making the current Bearish arrangement invalid.
At the time of the press, greenhouse sold for $ 0.067 per coin.
Publication: This article does not represent investment advice. The content and materials on this page are only for educational purposes.
