The price of the token Kaspa (KAS) shows signs of potential growth, yet it remains below its all-time high. An analyst from the Crypto MindSet channel provided a detailed analysis regarding the technical levels and market cycles that could drive KAS higher.
Current KAS Situation
Currently, KAS is trapped under a long-term downward trend. The analyst points out the necessity to breach key resistance. Until KAS breaks above this line, expecting a sharp rally is unwise.
Necessary Conditions for Growth
For any significant rise, KAS must meet two conditions: close above its current downtrend and form a golden cross, where the 50-day moving average climbs above the 200-day average. Without these conditions, even with attempts to rise, the price may face heavy resistance.
Long-term Prospects for Kaspa
Despite the weak current dynamics of KAS, the analyst believes in its potential as a project. However, he warns that a good project does not always equal a good trade. A strong performance from Kaspa is expected in the future when the overall narrative environment becomes favorable.
The analysis indicates that while the Kaspa price is not yet ready for significant growth, the conditions for this are starting to form. Traders should closely monitor the technical signals and prepare for the moment KAS can demonstrate its true strength.
