The Kaspa price has plummeted 8% in the past 24 hours and 5% in a week to trade at $0.1682 as of 10:49 a.m. EST, despite a 9% surge in trading volume to $85 million. This comes despite the project’s successful listing on the CoinW trading platform.
📣 NEW LISTING!
#Kaspa is now LIVE on @CoinWOfficial $KAS X $USDTAdvertisement
Trade now: https://t.co/zNQvfuG2C0#DigitalSilver #Cryptocurrency #CryptoTrading #L1 #PoW #BlockDAG pic.twitter.com/RYFQ4URxzB
— Kaspa (@KaspaCurrency) June 11, 2024
Launched in 2017, CoinW stands as a pinnacle in the world of crypto trading platforms, where its unwavering commitment to security, transparency, and user-centric principles sets the platform apart.
It is powered by its cutting-edge technology, boasting deep liquidity, and supports various cryptocurrencies.
However, Kaspa looks forward to holding a talk with a few Kaspians via ‘’x’’, which is set to commence at 6 pm Central time today (June 13). It will be hosted by Blockchain analyst( @Matt Diaz) and Defi protocol (@Evan Floyd).
Join a few Kaspians on an #XSpace with hosts @TheDefiProtocol and @xMattDiaz
June 13 at 6pm Central Time.
Guests: @Kaspa_HypeMan, @BubblegumLtng , @ChadBallantyne and @fishtuna https://t.co/f5odtRfYLy pic.twitter.com/1skrjYZhVv— Kaspa (@KaspaCurrency) June 13, 2024
Kaspa is a proof-of-work cryptocurrency that implements the GHOSTDAG protocol. It is unique due to its ability to support high block rates while maintaining the level of security offered by POW environments.
The project has continued to garner a massive following on its social media platforms, boasting 37,178 users on Telegram and 199.8K followers on X.
Kaspa Prediction Statistical Data
The Kaspa price trades bullishly within a bullish pennant, with the bulls aiming to break above the upper boundary.
- Kaspa price now – $0.1682
- Kaspa market cap – $3.93 billion
- Kaspa total supply – 23 billion
- Kaspa circulating supply – 23.9 billion
- Kaspa Coinmarketcap ranking – #23
Following its peak at an all-time high of $0.193000, the Kaspa price has traced a downward trajectory within a bullish pennant. Bulls have regressed to find support around the $0.155841 mark.
Supported by the technical indicators, the Relative Strength Index(RSI) is moving up from the 50-midline level as it hurtles towards the 70-overbought region, currently trading at 57. The RSI indicates that KASPA is currently in equilibrium but with signs of a bullish trend, crossing above 50, solidifying the positive momentum.
The Kaspa price still trades above the 50-day Simple Moving Average (SMA), gaining support from the 200-day SMA, which coincides with the bullish pennant’s lower boundary. This indicates that the bulls have the upper hand in the Kaspa’s market.
Additionally, the Moving Average Convergence Divergence (MACD) line (blue) crosses above the signal line (orange), which forms a bullish crossover. A bullish crossover encourages investors to buy more, which could push the token to a higher price.
Kaspa Price Prediction
The Kaspa price analysis on a 2-hour chart indicates a bullish bias. The bulls aim to break above the upper boundary of the pennant at around $0.179127. A further increase in momentum should drive the price to $0.1930, a new all-time high.
On the flip side, if the sellers gain control of Kaspa’s price, the bears could potentially push the price down, tampering with the $0.155841 support level. With sustained selling pressure, Kaspa’s price might plummet to around $0.1384.
Bottom Line
Despite the recent volatility on Bitcoin, Kaspa has managed to hold its ground and stand strong. Confirming its $0.15 support level indicates that KASPA has a promising future.
However, as many traders and investors are bullish on the coin, it is essential to conduct detailed research before investing in the project.
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Disclaimer: Cryptocurrency is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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