The price of KASPA (KAS) is facing challenges following a significant drop in early September. After peaking in late July, the price continues to decline, reaching critical support at $0.080.
Current KAS Situation
After reaching $0.118 in late July, KASPA's price has been in a steady downtrend, carving out lower highs and lower lows. In early September, the price dipped below $0.07 but quickly rebounded to its current level around $0.080.
Market Indicator Readings
Trading volume spiked during the major sell-off, indicating aggressive selling pressure. However, the subsequent rebound has not shown the same level of buyer conviction. Open interest stands at about 400 million, showing trader engagement continues but has drifted lower since August. Net longs have dropped sharply while shorts remain strong at around 320 million.
KAS Short-Term Price Forecast
In the short-term outlook, everything hinges on the $0.080 mark. If KAS can stay above this level, there’s potential for moves toward $0.085 or even $0.090. If it fails to hold above this level, bearish momentum may return and revisit $0.070. Overall, market sentiment remains cautious as KASPA shows signs of stabilization, but strong upward movement is needed for a confident bullish trend.
The KASPA price is in a phase of uncertainty, with a cautious market sentiment prevailing. Maintaining above $0.080 is critical for its future price direction.
