Kaspa (KAS) Price Prediction: Strong upward momentum has reversed, and long positions may not increase trade volumes, risking a further dip to $0.093.

The price of Kaspa (KAS) seems to have lost momentum, as it is currently retreating after a strong rise earlier this month, with a reported price of $0.097 in the Asian early trading on the 29th.

The buying momentum that pushed KAS up to $0.12 has now paused, and traders are waiting for the next move.

Kaspa's price is currently retracing after being resisted near $0.12. It has broken below the 9-day moving average and found support around $0.093 to $0.095. During the last retracement, buyers entered the market in this area, making it a zone worth watching.

KAS Price Analysis

From April to July, that downward trend line acted like a lid, restricting every pump. KAS touched this trend line again but was pushed back down. As long as it remains below this trend line, the bulls will find it hard to break through.

The 9-day moving average has turned from a support level to a resistance level, and the trading volume is decreasing. This usually indicates that buyers are on the sidelines. If the KAS price can rebound from the $0.093 area, it may attempt to pump again. However, the momentum seems unstable at the moment.

The KAS technical signals are somewhat complex. The trend remains strong, but short-term momentum is weakening. Currently, there is a tug-of-war between bulls and bears.

(Source: Trading View)

KAS Price Prediction

Bullish Scenario:

If KAS can rise above $0.103 and break through the level of $0.117, we can expect it to move towards $0.125 again. However, this trend requires volume support.

Neutral Scenario:

If the KAS price stays between 0.093 and 0.103 dollars, we may see some sideways fluctuations until a change occurs.

Bearish Scenario:

Breaking below 0.093 USD could pull the price down to 0.085 USD, or even back to the July benchmark price of around 0.067 USD.

The price of KAS is currently at a tricky juncture. It had previously exhibited steady movement but faced resistance at the $0.12 level, leading to a shift in momentum. Please keep a close eye on the $0.093 area. This is the key short-term level to watch today.

As of now, the most likely outcome is that the price will further consolidate between 0.093 and 0.103 dollars. Unless the bulls increase their volume to convert the resistance level into a support level.