Three reasons why Kaspa price may end its monthly downtrend soon

Kaspa Price could be ready to break out of his current trend soon, with several bullish developments on the horizon.

According to data from crypto.news, Kaspa (KAS) was traded at $ 0.08, a decrease of 13.9% in the past month and 43% lower than the year to date. The market capitalization of the token, which was more than $ 3.9 billion at the beginning of January, also fell to around $ 2.3 billion from the moment of the press.

Despite this downward trend, a large number of new developments have emerged that can reduce it on a bullish process.

Firstly, the Kaspa team recently teased some of the plans to enter the traditional payment area in the lines of giants such as Visa, Mastercard, Google Pay and Apple Pay, among other things.

In the 25 August X afterIt shared an image of a cash register terminal that showed the Kaspa logo in addition to such top payment giants, accompanied by the caption “. Soon”

Not much was revealed about what the coming product could be, but it seemed to arouse speculation on the community, which led to renewed interest in traders.

Secondly, there is also speculation of a Binance list on the horizon. Community members largely Anticipate the launch Going live soon, especially after the launch of the Binance Pool for Kas -Mijnbouw earlier this month.

Binance is currently the largest crypto exchange in the world. A spot list on the stock market would add strong credibility and visibility that could renew the demand for token at investors.

Thirdly, Kaspa has been set to launch His own Layer-2 solution at the end of this month. Dubbeds CasPlex, the upgrade will introduce smart contract functionality in the network, which may open the door for a wide range of applications, including Defi, NFTs, Dapps and more.

All in all, all these developments can increase the visibility of the Kaspa -Token, which could probably cause new retail investments.

Kaspa saw its strongest achievements in January this year, when it rose to a highlight of $ 0.15. Since then, the price of the token has followed a consistent pattern of lower highlights and lower lows, which eventually in April its low of $ 0.058 of $ 0.058.

Following this layer, the price action of Kaspa showed two consecutive rebounds and withdrawal of decreasing size, with the highlight being the formation of a symmetrical triangular pattern on the graph. Although this is usually considered a neutral consolidation structure, it often dissolves in the direction of the prevailing trend.

An outbreak above the upper trend line would indicate a potential bullish reversal, while a breakdown under the lower trend line would probably confirm a continuation of the wider Beerarish trend, so that the token is exposed to a further downward risk.

To assess the likely direction of this outbreak, additional technical indicators offer valuable insights.

The 50-day simple advancing average has recently crossed over 200-day SMA and forms a Golden Cross, a generally followed Bullish signal that suggests that a positive momentum can build. Historically, the last time Kaspa was a Golden Cross for the next two months, the token with 74%.

In addition, the Chaikin Money Flow Index is currently a positive reading, which indicates that the purchasing pressure is heavier than the sales pressure, a potentially early sign of accumulation by market participants.

Based on these technical signals, a decisive outbreak above $ 0.092, the upper limit of the triangle, could open the path for a movement to $ 0.10, a level that closely matches the 50% Fibonacci racement of January High to the Low in April. A confirmed outbreak of the pattern could pave the road for further upside down that threshold.

Conversely, if KAS does not have the support level of $ 0.082, it can cause a renewed sales pressure and lead to a deeper correction, which means that earlier lows in the range of $ 0.070 – $ 0.060 are re -tested.