Analyst Predicts Kaspa (KAS) Could Crash 50% as Price Tests Critical Support
- Patricia ArquetteOriginal
- 2024-11-05 00:18:111062browse
Crypto Mia shared insights on the current state of Kaspa (KAS), emphasizing the importance of the $0.1100 support level. According to Mia, maintaining this support is crucial for sustaining bullish momentum.
Cryptocurrency analyst Crypto Mia has shared her insights on the current state of Kaspa (KAS), highlighting the importance of the $0.1100 support level.
According to Mia, maintaining this support is crucial for sustaining bullish momentum. If KAS drops below this threshold, the analyst warns that it could lead to a shift in momentum and a more bearish outlook.
A closer examination of the KAS/USDT chart reveals significant support and resistance zones. The analyst notes that the $0.1100 level is a pivotal support area, marked by a yellow band just above the current price of $0.10826.
Should this level hold, it may serve as a robust foundation for a potential bullish rebound. However, if the price breaches this level, the next significant support is around $0.0500, indicating a potential decline of more than 50%.
Mia outlines two possible scenarios for KAS. In the bullish scenario, if KAS can sustain its price above $0.1100, there is a likelihood of a rebound, which could lead to a renewed uptrend and a retest of previous highs near $0.15 and beyond.
Conversely, in the bearish scenario, should the price fall below the crucial support level, it could signal a shift in momentum. This would suggest that the $0.1100 area could become resistance, potentially resulting in a decline toward the secondary support of around $0.0500.
Currently, KAS is trading at $0.10826, just under the critical support level, making the upcoming days essential for determining whether this level will hold or flip to resistance.
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.Get all our future calls by joining our FREE Telegram group.
We recommend eToro
The above is the detailed content of Analyst Predicts Kaspa (KAS) Could Crash 50% as Price Tests Critical Support. For more information, please follow other related articles on the PHP Chinese website!