Kaspa (KAS) Price Prediction: Can KAS Go 100x From the Current Price?

In the last month, altcoins have experienced a sharp decline, with Bitcoin [BTC] prices plummeting to $60k. Despite the market volatility, Kaspa [KAS] has defied market trends and reported a sustained surge.

Altcoins have had a rough month, with Bitcoin [BTC] prices dropping to $60k. But despite the market volatility, Kaspa [KAS] has defied the trend and seen a sustained surge.

The recent rally has pushed KAS to an ATH after a 20.77% surge in seven days.

At press time, KAS was trading at $0.1896, a 6.4% rise in 24 hrs. Meanwhile, KASPA has seen a 45.95% surge in trading volume to reach $129M.

The KAS market cap surged by 6.4% to reach $4.5B, ranking above ICP and PEPE, according to CoinMarketCap.

This sustained surge had everyone from crypto analysts speculating on further growth. Renowned analyst Crypto Proselyte is one of those big-betting on KAS.

In a post shared on X (formally Twitter), he stated that,

“Can #Kaspa go #100x from the current price? The short answer is Yes.”

He further explained that,

“As per the power law support corridor, which hasn’t been broken since genesis, $KAS will reach $18 (100x now) in June 2029, just in 5 years.”

Several developments are driving this speculation and positive market sentiment. For starters, KCA20 is set to launch, Mr Kaspa announced.

In a post shared on X, Mr Kaspa stated that,

“Today is the day! #KRC20.”

Another factor is Marathon, the largest crypto-mining company, entering Kaspa mining. According to official reports, Mara has mined 93 million KAS, valued at $16M.

Both developments are keeping everyone excited and optimistic about Kaspa’s future.

What do price charts indicate?(Source: TradingView)

AMBCrypto’s analysis showed that KAS was seeing a strong upward momentum, and the KAS Directional Movement Index (DMI) proved this.

At press time, the positive index at 31 was above the negative index at 24. This indicated a strong buying pressure and a well-sustained uptrend.

(Source: TradingView)

Moreover, Awesome Oscillator (AO) measures prevailing market momentum at 0.021. When AO is above zero, short-term momentum is stronger than long-term momentum, a bullish signal.

(Source: Coinglass)

Looking further, our analysis of Coinglass shows that KAS market sentiment is highly positive, with a sustained upward momentum.

Coinglass data showed liquidation for short positions is higher than for long positions.

This indicated that investors were betting against the market are out of money, while long positions are in the money and continuing to hold their positions.

(Source: Coinglass)

Finally, Open Interest has surged for the last seven days from $40 M to $69M.

The rise in Open Interest shows increased activities, which drives trading volume up as investors open new long positions while holding existing ones.

This market sentiment shows confidence in the altcoin’s direction and future gains.

Read Kaspa [KAS] Price Prediction 2024-25

Is KAS set for a new ATH?

After breaching its significant resistance level of $0.183 and challenging its ATH at $0.192, if the bullish momentum continues, it will shift toward the upper resistance level of $0.22 and achieve a yearly high.

However, if the market faces a correction, the bulls will lose momentum and fall to its support level of $0.160.

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