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Homeweb3.0Metric That Triggered 80% Kaspa Price Surge Reemerges, But KAS Could Dip First

Kaspa is experiencing major accumulation between $0.156 and $0.175. According to King Crypto, a similar accumulation occurred between $0.11 and $0.13. Following this, the price spiked by around 78%.

Metric That Triggered 80% Kaspa Price Surge Reemerges, But KAS Could Dip First

Kaspa (CRYPTO: KAS) price experienced a significant surge of 80% on March 22, fueled by a metric that previously triggered a 78% rally in the coin.

What Happened: As highlighted by King Crypto, a Kaspa community member, the coin has been quietly accumulating between $0.156 and $0.175. This accumulation zone aligns with a prior instance where Kaspa surged by 78% after consolidating between $0.11 and $0.13.

King Crypto hinted at the possibility of a similar surge in the coming days, noting that anything drastically bearish would be needed to halt the price surge.

A closer examination of the Kaspa price chart reveals a trendline support forming since mid-2023, serving as a pivot for price bounces. This support has been crucial for the bulls to acquire liquidity.

The sustained price dips to this trendline support could be a precursor to a major price bounce. Hence, if KAS price breaks below the accumulation support at $0.15, we might see the price retrace to this support.

See More: Best Crypto Charting Tools

Technicals Hint At Mixed Signals: The 50-day Simple Moving Average (SMA) is currently presenting a bearish hurdle to further price advances at around the $0.172 level.

However, on a longer timeframe, the 200-day SMA could act as support for a price bounce as it remains below the current price.

The Relative Strength Index (RSI) is at 48, indicating a neutral zone. This suggests that the price can move in either direction before becoming overbought or oversold, depending on the price movement.

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