Kaspa Price Forecast: What the Next Move In KAS Crypto Price?
The outlook for the Kaspa price in January 2024 is bearish, as it is currently trading below key moving averages and showing a downward trend. The bears have been dominating the chart, pushing the price lower in recent trading sessions.
The selling pressure on Kaspa crypto has been evident, leading to a bearish market and forming a pattern of lower lows over the past few months. The sentiment towards Kaspa has been negative, contributing to the bearishness in the charts.
The ongoing trend favors sellers, and the crypto is in a corrective stage, making buyers cautious. Moreover, the price is below significant moving averages and attempting to hold gains near the 50-day EMA.
As of now, the Kaspa price is $0.101070 with a 2.78% decline during the day. It has likely bounced back from the lower trendline near the support mark of $0.095521. The intraday trading volume is $29.641 million, and the market cap stands at $2.261 billion.
Kaspa has had a disappointing performance in recent years, with negative returns of 9.76% year-to-date and 159.52% in the last six months. In the past month, it has seen a negative return of 5.22% and 17.74% over the last seven days, indicating a prolonged bearish trend.
Looking at the technical analysis in a 1-day timeframe, Kaspa crypto is trading below the 20 and 50-day EMAs, suggesting a weak price trend. The MACD indicator shows a bearish crossover, indicating further downside potential for the KAS crypto price. The RSI is at 39.57 points, and the 14 SMA is above the median line at 48.15 points, confirming the bearish sentiment.
On the 4-hour charts, the Kaspa price is range-bound with low volume levels, not signaling any imminent rise. Key indicators, such as RSI and MACD, are still in the bearish range and do not suggest any significant upward movement.
In summary, technical indicators for Kaspa (USD: KAS) support the bearish trend, with the MACD, RSI, and EMA all pointing to negative signs. The price action reflects a bearish perspective in the 1-day timeframe. Support levels are at $0.075830, while resistance levels are at $0.128899.
Please note that this article is for informational purposes only and does not provide financial or investment advice. It is always recommended to conduct your own research before making any financial decisions.