Kaspa price prediction – KAS buyers have THESE bullish targets in mind!

KAS retained a bearish daily structure on the price charts
Liquidity clusters around $0.133 seemed to be a short-term target

Kaspa (KAS) saw a 5.4% increase on Tuesday and there’s potential for further growth ahead. Currently, it maintains a bearish pattern on the daily chart, but the bulls have been strong in defending the $0.11 area. However, the quick reversal from the $0.19 mark in December is a concern that remains unaddressed at this point.

Buying pressure slowly on the rise

On early January’s rally, the structure showed a bearish trend as it failed to surpass $0.1291 – its previous high in daily timeframe. To change this bearish outlook to a bullish one on the same timeframe, buyers need to push the price above $0.1291.

The Relative Strength Index (RSI) stood at 50, indicating it was about to break into an optimistic zone. Meanwhile, the On-Balance Volume (OBV) was gradually increasing as well. Yet, just like the price, the OBV showed a significant decline too. However, the recent surge in the altcoin produced a higher peak on the OBV, suggesting that buyers are showing early signs of strength.

Consequently, it’s likely that a rise above $0.13 will begin. Furthermore, the $0.11 area has been a significant resistance point since March 2024 for KAS. The price of KAS has fluctuated within a pattern resembling a range between $0.11 and $0.19.

Hence, swing traders have an opportunity to go long at or near current market prices.

Magnetic zones to the north likely to pull KAS higher

Over the course of a month, it became apparent that there was a significant cluster of potential sell-offs between $0.13 and $0.133. Given this information, it seemed plausible that the price of KAS would increase to clear out this accumulation of selling pressure in the near future.

In simpler terms, analyzing the 2-week trend showed that a surge higher was preceded by investors chasing liquidity at around $0.11. If this pattern continues in the near future, it’s expected that Kaspa will reach between $0.13 and $0.14 soon, but may then stabilize for a while.

Is your portfolio green? Check the Kaspa Profit Calculator

By merging resources, we create an environment with ample funds flowing in both directions around the price. In this scenario, KAS could first decrease in value, then bounce back to rise again. If Bitcoin [BTC] experiences a rally, it’s likely that KAS will momentarily drop below $0.13 before reaching new local highs.

2025-01-14 13:11

Buying pressure slowly on the rise

Magnetic zones to the north likely to pull KAS higher

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