Analyst Alan Santana has shared his forecast for a potential 47% price correction for Kaspa (KAS) token. The review examines past trends and their impact on the current outlook.
Kaspa Chart Analysis
Alan Santana's analysis highlights two previous corrections in Kaspa's price action, each lasting significant periods. One correction extended for 65 days, while the other spanned 71 days. These past trends are now being used to project future movements, with the potential for a similar correction lasting between 60 and 80 days.
Bullish Waves vs. Bearish Trends
In addition to the bearish corrections, the analyst notes that KAS has experienced two bullish waves. These upward movements were notably different in duration, with the initial lasting 28 days and the other extending for 92 days. This highlights the unpredictable nature of Kaspa's market movements and the potential for substantial fluctuations in both directions. However, Alan Santana's current outlook for Kaspa leans towards a bearish bias.
Market Sentiment
Alan Santana suggested that Kaspa has been moving with bearish sentiment, reflecting a cautious approach for traders. According to the report, the market remains on edge, with the possibility of the token testing new lows before the correction concludes. This has led to growing concern among traders about how much further Kaspa's price could decline.
The ongoing correction may present opportunities for those seeking entry points at lower levels, but it also serves as a warning for those holding the token during its current bearish cycle. The volatile nature of the cryptocurrency market remains a crucial factor, with Kaspa being no exception.
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