The price of KASPA (KAS) has shown a sharp increase in recent days, exceeding the $0.10 mark. In this article, we will explore the reasons behind this rise and forecasts for the coming days.
Reasons for KAS Price Surge
The price of KASPA surged by over 9% in a single day, reaching $0.105. This increase followed an extended accumulation phase. Heikin Ashi candles turned fully green, confirming strong buying interest.
RSI Analysis: Is KAS Overbought?
The Relative Strength Index (RSI) hit a value of 79.46, entering overbought territory. While this indicates strong bullish momentum, it is also important to note that RSI values above 70 often precede short-term pullbacks. However, strong trends can continue even with RSI above 80.
Fibonacci Level Forecasts
According to Fibonacci levels, the next target levels for KAS could be $0.114 and $0.12. If the price maintains momentum, testing the $0.114 level may occur in the coming days. A breakout above $0.12 would pave the way for a possible retest at $0.117.
The KASPA price is currently in a bullish trend, with short-term forecasts suggesting a potential rise to $0.12. However, traders are advised to monitor RSI and other indicators to identify possible corrections.
