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Kaspa Coin Price Prediction: Here’s Why I’m Not Buying KAS Coin

Kaspa (KAS) coin price has behaved exactly as I predicted in my last analysis. If you had been following my prediction, you could’ve easily banked 30% profit. When I predicted a new all-time high for the KAS crypto, it was trading at $0.0377, and it went to $0.0488 before having a pullback.

On Friday, altcoins are showing mixed price action. Kaspa coin once again showed a positive price action and gained 0.74% during today’s session. BTC price once again showed very little volatility, and the biggest cryptocurrency was changing hands at $29,230 till press time.

Will KAS Coin Continue To Rise?

Kaspa has a unique architecture which makes it different from most of the other cryptocurrencies. The project leverages a blockDAG technology which is slightly different from the conventional blockchains. This allows it to achieve very high speed and throughput. Kaspa intends to achieve the speed of 1 block/ sec, which is quite ambitious.

It is a network with a proof of work consensus that leverages the GHOSTDAG protocol. Recently, the Kaspa coin price surged to a new all-time high due to an increase in demand for the native asset of the DAG-based network. At press time, the coin was trading at $0.0453 with a $25.6 million volume within the last 24 hrs.

Kaspa Price Prediction Remains Bullish

Considering the following KAS chart, it comes as no surprise that the bulls are enjoying full control. However, even though the price is currently trading 5.5% above its 2022 peak, it is yet to close a week above it. Another concerning thing is the bearish divergences the Money Flow Index (MFI) and the Relative Strength Index (RSI).

Kaspa price prediction will flip extremely bullish if it closes a couple of weeks above $0.04275. A rejection from the current level might result in the formation of a double-top pattern. In the case of another bullish leg, bulls might target the psychological level of $0.05, which is around 10% above the current price level.

If you missed this Kaspa rally, don’t worry as there are many more coins ready to rally. I’ll be sharing these coins on my  Twitter.

Kaspa coin price chart
KAS Coin Chart