Kaspa Coin Price Prediction: Here’s Why I’m Bullish On KAS Coin
Kaspa coin (KAS) price has been on a tear for the past two months. After a major pullback in May 2022, the KAS coin has rebounded very strongly. Consequently, the price is on its way to hitting a new all-time high. The latest analysis reveals that there is still more upside for the blockDAG cryptocurrency.
Cryptocurrencies experienced a negative price action on Monday as the BTC price fell below $30,000. The leading cryptocurrency surged above $30,400 on Sunday night, but the gains were lost after a couple of hours. As a result, altcoins are having a pullback. Nevertheless, the Kaspa coin still showed minor gains on Monday.
Why Is KAS Coin Pumping?
Unlike other cryptocurrencies, Kaspa has a unique architecture. It employs a generalization of the conventional Nakamoto consensus known as the GHOSTDAG protocol. This architecture allows it to produce 1 block per second, which is a very high speed for any cryptocurrency.
In March 2023, the coin was integrated into one of the biggest crypto mining pools known as F2Pool. This, together with the ongoing speculation on smart contracts integration, is the major reason behind the soaring Kaspa coin price. However, after a strong rally, you must not expect exponential returns from the project.
Kaspa Coin Price Prediction August 2023
A look at the following KAS coin chart reveals that the coin is trading only 9.8% below its all-time high. This ATH was made in April 2023 and appears to be the next target for the bulls. Considering the bullish momentum, it appears to be only a matter of time before the price retests $0.04275. This will be a 10% upside from the current price level.
Kaspa coin price prediction will flip extremely bullish if the price gains strength above $0.04275. Until then, there will remain a possibility of double top formation, which is a bearish reversal pattern. If you’re sitting on the sidelines, then it might not be a good idea to jump in right now.
In the meantime, I’ll keep sharing the updated KAS coin forecast and my personal trades on my Twitter, where you are welcome to follow me.