Currently, Kaspa's price sits just under $0.09 following a recent dip. Charts hint at potential trouble for short traders if the price continues to rise.
Kaspa Price Levels and Their Significance
According to Kaspa Daily, if Kaspa's price rises to $0.10, nearly $30 million in short positions could be liquidated, leading to forced buying and increased volatility.
> "Nearly $30 million worth of short positions stand to be liquidated if Kaspa price climbs to $0.10," the liquidation data indicates.
Technical Analysis and Trends
On the 4H chart, KAS price continues to trend below a long descending trendline. The 50-EMA presents resistance at $0.093. A hold above $0.086 and a break over $0.093 could see the price move towards $0.096, opening the door to test $0.10.
> "Kaspa is trading just under $0.09 following the recent correction. Liquidity maps show a significant liquidity cluster below between $0.086 and $0.081, while another significant cluster sits above in the $0.096–$0.10 range."
Future Price Scenarios for Kaspa
Currently, the focus is on the resistance levels of $0.096–$0.10 as potential pressure points for short positions. A drop below $0.086 could lead to a rapid decrease. Traders are now closely watching these key levels to see which side of the market will break first.
In summary, the current situation surrounding Kaspa's price presents critical levels of support and resistance. With trading and volatility, traders should closely monitor these specified price levels.
