CryptoNews Report:
KAS has declined by 11.80% over the past 7 days. Despite this decrease, the trend continues to show an upward trajectory.
On June 30th, KAS reported that, according to AMBCrypto, there was a subsequent 20% surge just a few days later. However, a week after that, KASPA dropped by 11.80%, causing anxiety among long-term KASPA holders.
Despite the decline, market sentiment remains optimistic and positive. As a result, multiple analysts are predicting a surge in market capitalization. KAS’s market cap has surged over the past 30 days, surpassing PEPE and ICP.
Crypto analyst @Sukie, on X (formerly Twitter), shared their forecast stating, “Dollar KAS could reach a market cap of over $100 billion, this is not a moon boy. In 2017, during the bull market, Dollar XRP reached a $130 billion market cap when there was little money in the market. The last bull market saw Dollar BNB rise from $3 billion to $10.8 billion MC. No other cryptocurrency can match Kaspa’s fundamentals.”
Historical data suggests that KAS’s market cap will undergo exponential growth. Generally, market cap growth indicates that KAS prices and user activity will likely continue to surge in the foreseeable future.
Market Sentiment
According to Market Prophit, KASPA continues to maintain a positive market sentiment.
Specifically, crowd sentiment is 0.06, Z-score is 0.35, and overall market sentiment is 0.07. Positive market sentiment indicates that users and investors are optimistic about KASPA’s future potential.
KAS Price Charts
As of the time of writing, KAS’s Aroon lines show a strong upward trend. Specifically, the 50-period Aroon Up sits above the 7-period Aroon Up.
When Aroon lines are configured this way, it indicates a strong uptrend and positions it for further continuation. Similarly, it suggests that prices are within the market value range.
Further support comes from the Directional Movement Index. As of the publication, the positive index (+DI, blue line) at 22 is above the negative index (-DI, red line) at 21.
This setup suggests that KASPA is in a favorable position, with sustained positive market sentiment poised for further upward momentum.
Looking at the Open Interest Weighted Funding Rate, AMBCrypto’s analysis indicates it has been predominantly positive over the past seven days.
A positive funding rate implies demand for long positions outweighs short positions. Hence, traders pay a premium to hold their positions, reflecting a bullish sentiment.
Can KAS Maintain Its Upward Trend?
AMBCrypto’s analysis of Kaspa suggests that the price trend largely remains on an upward trajectory. After reaching a historical high of $0.194, KAS’s price experienced a short-term decline while the trend remains intact.
As of the time of writing, after a 1.64% increase in the past 24 hours, KAS is trading at $0.1688. If it breaks out of the resistance zone previously touched at $0.194, the price could surge to a new historical high of $0.23.
Therefore, if losses persist in the weekly chart, prices could fall to a support level of $0.15.
