• Kaspa surged 3%, reaching $0.065.
  • KAS’s daily trading volume dropped by 10%.

A brief uptick in the crypto market has initiated mixed signals across assets. Bitcoin and Ethereum remain near their recent lows. Among altcoins, Kaspa (KAS) shows resilience, climbing over 3.76%.

The recovery attempts of the asset have failed. The shift toward the bullish zone could happen only after testing the crucial levels. In the early hours, Kaspa traded at around $0.06337. The daily low and high were noted at $0.06064 and $0.06776. 

At the time of writing, Kaspa traded within the $0.06533 range, with its market cap reaching $1.69 billion. Besides, the daily trading volume of the asset is resting at $113 million.

Will Kaspa Turn Bullish Soon?

Kaspa’s active bearish pressure triggers it to slide toward the crucial zone at around $0.06484. If the asset continues to trade on the downside, the death cross would emerge, losing footing and plunging below the $0.062 mark.

Assuming the ongoing momentum takes a turn, the price could find and test the immediate $0.06639 resistance. The prolonged bullish momentum of Kaspa might likely form a golden cross, paving the way to climb toward $0.069.   

The Moving Average Convergence Divergence (MACD) line and the signal line are below the zero line, indicating a bearish momentum with a sign of continued weakness unless there is a bullish crossover.

Kaspa (KAS) Aims for $0.070, Can the Bulls Take Charge? image 0 KAS chart (Source: TradingView )

Moreover, the asset’s Chaikin Money Flow (CMF) indicator resting at 0.03 suggests a slight positive money flow in the market. Meanwhile, Kaspa’s daily trading volume has decreased by over 10.39%.

KAS’s Bull Bear Power (BBP) value of 0.00375 signals a slight bullish sentiment . Besides, the daily relative strength index (RSI) found at 50.63 infers the market is neutral with no strong bullish or bearish momentum.

Disclaimer: The opinion expressed in this article is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.

Highlighted Crypto News

When Will Cardano (ADA) Break the $1 Barrier?