Kaspa (KAS) cryptocurrency's price shows signs of recovery after a correction and is approaching a critical resistance level.
Current Price and Dynamics
As of now, Kaspa's price stands at $0.0923, with a 24-hour increase of 5.58%. The cryptocurrency tested the support at $0.060 and is moving toward the upper range of $0.096, a breakout of which could determine further fluctuations. Should bulls manage to break through this mark, a rise towards $0.10 or even $0.12 is possible.
Technical Indicators Analysis
Technical indicators suggest a slight bullish trend overall. The Relative Strength Index (RSI) stands at 65.81, indicating strong momentum without overheating. Other indicators such as MACD and CCI also show positive trends. However, a confirmed breakout above the resistance is still pending.
Future Movement Scenarios
In the event of a successful close above $0.096, one might expect a rise to $0.10 or $0.12, confirming the breakout. Conversely, if the price fails to breach the resistance again, a sideways movement in the range of $0.080 - $0.096 is probable. Should the price drop below $0.080, control could shift back to bears.
The current situation with Kaspa's price indicates a potential breakout of the key resistance level. The future price movement will depend on the actions of bears and bulls at the $0.096 level.
