Kaspa Price Holds Key Support Zone Amid Market Uncertainty
Kaspa Price Holds Key Support Zone Amid Market Uncertainty

Kaspa Price Holds Key Support Zone Amid Market Uncertainty

News summary

Kaspa (KAS) cryptocurrency is currently trading around $0.085 to $0.088, stuck in a tight range following a correction from mid-July highs above $0.14. Technical indicators show a short-term bearish trend with resistance near $0.090 to $0.095, where a breakout could trigger a potential short squeeze due to significant short positions at risk. Support remains critical between $0.082 and $0.085, with a break below possibly driving prices down to $0.070. On-chain data reveals a recent outflow of 19 million KAS from exchanges, indicating holders may be preparing for longer-term holding, which could reduce selling pressure. Kaspa's unique blockDAG architecture and its scalability prospects contribute to bullish price predictions for 2025, with forecasts ranging from approximately $0.11 to $0.21 if consolidation patterns and momentum improve. Overall, while momentum remains fragile, a sustained move above key resistance levels could spark a significant upward trend for Kaspa.

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