Kaspa Spot Listings Delayed as Key Resistance Holds: Is a KAS Price Breakout Imminent?

The Kaspa (KAS) community is increasingly frustrated by the delay in spot listings on major exchanges such as Binance, Kraken, and OKX.

Kaspa (KAS) community members are eagerly awaiting the announcement of spot listings on major exchanges like Binance, Kraken, and OKX. Despite being listed on the futures markets of these platforms, Kaspa has yet to secure a spot listing.

In a recent analysis by Crypto ZX, it is suggested that these exchanges may be waiting for the launch of Kaspa's smart contracts before proceeding with a full listing. Moreover, regulatory concerns and other technical factors could also be contributing to the delay.

Kaspa Community Shows Strong Support Amid Delays

Despite the delay in spot listings, the Kaspa community has remained engaged and enthusiastic about the project. A recent X poll showcased this sentiment, where a majority of voters preferred Kaspa over established cryptos like Bitcoin and XRP.

This overwhelming support highlights the strong community engagement surrounding Kaspa. Additionally, the analysis points out that these exchanges have listed Kaspa on their futures platforms, indicating their recognition of its potential.

Kaspa Price Action Influenced by Bitcoin

Recently, Kaspa's price movements have been affected by the broader market behavior, particularly influenced by Bitcoin. As Bitcoin experienced a “complete fakeout” after retesting a key resistance level, its downward move caused a ripple effect across the crypto market, impacting Kaspa as well.

On the daily timeframe, Kaspa lost support at the 61.8% Fibonacci retracement level, dropping to 16.1 cents. The analysis highlights the significance of this level. If the current support fails to hold, Kaspa could potentially retest the 15.8 cents area, according to the analysis.

Despite this decline, Kaspa has maintained strong momentum, positioning itself as one of the best-performing assets over the past 12 to 18 months.

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Key Resistance Levels and Future Prospects

Over the past two weeks, Kaspa's price has repeatedly tested a crucial resistance level at 17.3 cents but has not managed to break through it yet. According to Crypto ZX, a breakout above this level is necessary for Kaspa to reach the next resistance at the 38.2% Fibonacci retracement level.

Historically, breaking such key resistances has led to sharp price increases, sometimes resulting in new all-time highs. The analysis suggests that if Kaspa can overcome this barrier, it could lead to price gains, potentially setting the stage for new highs.

However, the speaker emphasizes the importance of market conditions aligning to provide the necessary bullish momentum.

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