Kaspa (KAS) rallied by 5.4% on Tuesday, showing signs of bullish potential. While a bearish structure persists on the daily timeframe, the $0.11 level continues to act as a strong demand zone. Key technical indicators suggest a possible move past $0.13, potentially fueled by a liquidity hunt.
The $0.11 level has proven to be a robust support zone since March 2024, successfully withstanding recent tests. KAS surged by 5.4% on Tuesday, hinting at potential for further gains. While the altcoin currently holds a bearish structure on the daily timeframe, the bulls' determination to defend the $0.11 region is noteworthy. However, the sharp decline from the $0.19 level in December remains a concern that hasn't been fully addressed.
The bearish bias stems from the lower high established at $0.1291 during the early January rally on the daily timeframe. Overcoming this level is crucial for the bulls to shift the overall trend to bullish on the 1-day chart. The Relative Strength Index (RSI) stands at 50, poised to enter bullish territory. Similarly, the On-Balance Volume (OBV) exhibits a steady upward trend. Despite these positive indicators, the OBV, like the price, is also on a pronounced downtrend. Yet, the altcoin's latest move has resulted in a higher high on the OBV, a promising early indication of buying strength. Therefore, a move past $0.13 is anticipated.Furthermore, the $0.11 region has consistently acted as a strong demand zone since March 2024. KAS has largely traded within a range-bound formation between the $0.11 and $0.19 levels. The 1-month liquidation heatmap reveals a high concentration of liquidation levels in the $0.13-$0.133 zone, suggesting that KAS is likely to push north to absorb this liquidity pool in the coming days. The 2-week liquidation heatmap indicates that the recent upward move was preceded by a liquidity hunt towards $0.11. If this pattern repeats, Kaspa is poised to reach $0.13-$0.14 soon, followed by a period of consolidation. This consolidation would build liquidity in both directions around the price, allowing KAS to potentially sweep one side before rebounding to the other. A Bitcoin rally could trigger a short-term dip in KAS below $0.13 before new local highs are established.
KAS Kaspa Cryptocurrency Price Prediction Technical Analysis Bulls Demand Zone Liquidity Hunt OBV RSI
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
XRP Price Prediction: Bearish Bias Despite Bulls Defending $2 ZoneAlthough XRP bulls have successfully defended the $2 price zone, a bearish bias is present in the daily timeframe. A drop below the $2 zone could lead to a deeper retracement towards $1.4 or even $1, potentially presenting a buying opportunity for swing traders. Despite the bearish momentum indicated by the Awesome Oscillator, strong buying interest in the $1.96-$2.2 demand zone and rising A/D indicator suggest steady buying pressure.
Read more »
2025 gold price preview: Bulls still in the driver’s seatThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
BONK Price Prediction: Can Bulls Flip Resistance at $0.00004?Technical analysis suggests a short-term price bounce for BONK, but warns that the $0.00004 resistance level needs to be flipped to support for sustained bullish momentum. While the recent retest and defense of the 78.6% Fibonacci retracement level offers some hope, the bearish market structure and declining On-Balance Volume (OBV) indicate challenges for bulls. The article highlights key price levels and technical indicators, including the 20 and 50-period moving averages, liquidity pools, and liquidation charts, to assess BONK's potential short-term trajectory.
Read more »
Bitcoin December 16 daily chart alert - Bulls re-energize price uptrendThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
Stellar Lumens price prediction – XLM bulls seek re-entry at…Stellar Lumens price pullback could offer a great discounted buying opportunity if it doesn't exceeded below $0.30.
Read more »
Bitcoin January 10 daily chart alert - Bulls work to stabilize priceThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »