The Kaspa price has displayed significant price volatility recently after displaying a neutral trend for a brief period. The KAS price has added over 20% in valuation within the past 24 hours, making it the top gainer of the day in the crypto industry.
The Kaspa price traded in a closed range between $0.1076 and $0.1168 for a while, after which the market volatility grew and the price broke out of the resistance level. However, the bears overpowered the bulls, and the price recorded a loss of over 21% in valuation.
After testing its low of $0.09793, the bulls regained momentum and recorded a bullish reversal, resulting in the price recovering all its losses from the drop. Following this, the price traded sideways for two weeks, displaying significant price fluctuations.
After multiple failed attempts to break out of the resistance level, the price lost momentum, resulting in a drop of over 12% in value. Following this, the price traded in a closed range between $0.09793 and $0.10763 for more than three weeks, indicating a weak buying and selling pressure for the coin in the market.
The bulls regained momentum recently and recorded a jump of approximately 27% in value. Since then, the price has been trading between $0.1168 and $0.1242 and is on the verge of testing its resistance level of which the outcome is unpredictable.
Will Kaspa Keep Going Up?
The Moving Average Convergence Divergence (MACD) displays a sharp rise in the chart, highlighting an ongoing massive price action for the coin in the market. Further, the averages sharply rise, suggesting a bullpower in the market.
If the market pushes the price above its important resistance level of $0.1242, the KAS price will regain momentum and rise to test its upper resistance level of $0.130 soon. Further, if the bulls hold the price at that level, it will prepare to test its upper resistance level of $0.13640 in the coming time.
Negatively, if the bears overpowered the bulls, the price would lose momentum and fall to test its support level of $0.1168. Moreover, if the bears continue to dominate the market, it will plunge and prepare to test its lower support level of $0.10763 by the week ahead.
