- KAS is down 11.80% over the last 7 days.
- Despite the decline, the trend remains upward.
On June 30, KAS reported a 20% increase after days, as reported by AMBCrypto. However, a week later, KASPA dropped by 11.80%, causing panic among KASPA long-term investors.
Despite the decline, the market remains optimistic with positive market sentiment. Therefore, several analysts predict an increase in market capitalization. The market capitalization of KAS has increased in 30 days, surpassing PEPE and ICP.
A crypto analyst @Sukie shared his predictions on X (formerly Twitter), noting that,
“It’s no moon boy that $KAS can reach $100B+ MC. In 2017 bull $XRP reached $130B when there was WAY less money in the market. The last bull run took $BNB from $3B to $108B MC. No other Crypto beats Kaspa’s fundamentals.”
Based on historical data, KAS is positioned to experience exponential growth in market cap. In general, market cap growth implies that KAS prices and user activity will continue to increase in the near future.
Market sentiment
Source: Market Prophit
According to Market Prophit, KASPA consistently enjoys positive market sentiment.
In fact, the crowd sentiment is 0.06 with a Z-score of 0.35, while the overall market sentiment is 0.07. The positive market sentiment shows that users and investors are optimistic about the future potential of KASPA.
What KAS Price Charts Indicate
At the time of writing, the Aroon line of KAS is showing a strong uptrend. Specifically, the Aroon up at 50 is above the Aroon down at 7.
When the Aroon line is set up this way, it shows that the uptrend is strong and positioned to continue. It also shows that prices are within market value.
Source: Tradingview
The Directional Movement Index further supports this. At the time of going to press, the positive index at 22 (blue) is above the negative index (red) at 21.
This setup implies that KASPA is in a good position and that the continued positive market sentiment will allow the trend to continue upwards.
Source: Tradingview
Looking at the OI-weighted funding percentage, AMBCrypto’s analysis shows that it has been largely positive over the past seven days.
Positively weighted financing rates imply that demand for long positions is higher than for short positions. Traders therefore pay a premium to hold their positions, which is bullish sentiment.
Source: Coinglass
Can KAS maintain its upward trend?
Kaspa’s analysis by AMBCrypto indicates that the price movements remain largely in an uptrend. After reaching the all-time high of $0.194, KAS experienced a short-term decline in price while the trend remained unchanged.
At the time of going to press, KAS is trading at $0.1688 after a 1.64% surge in 24 hours. Having previously reached the $0.194 resistance level, a breakout from the zone would see prices surge to a new all-time high of $0.23.
If the losses continue on the weekly charts, the price will drop to the $0.15 support level.