"KAS Coin Analysis: The Market's Most Bullish Coin"💹 Let's dive into one of my favorite coins, KAS, and see if we can find new entry points for our spot positions and medium-term portfolios.
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These are in addition to our daily analyses.
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🚀 Reasons for KASPA's Recent Growth:
🎯 Advanced BlockDAG Technology:
Using BlockDAG instead of the traditional blockchain has increased processing speed and network security.
🙌 Fast Transactions and Low Fees:
Users are attracted to this network because of its high speed and low transaction costs.
📚 True Decentralization:
Eliminating central entities and ensuring equal participation of all users has increased trust in the network.
💪 Support for Smart Contracts:
The intention to support smart contracts has attracted developers and decentralized applications (dApps).
🚥 Increased Adoption and Usage:
Growing user base and broader acceptance have contributed to the price increase and popularity of Kaspa.
📊 Weekly Time Frame Analysis:
KAS is one of the most bullish coins in the market, consistently forming higher lows. Currently, it's moving between the box of 0.97620 and 0.174767.
After a recent upward trend and a significant move towards the resistance of 0.174767 with high volume, we saw a rejection and correction with lower volume. If we move up with a green candle and significant volume, the probability of breaking the resistance increases.
🌐 If we consider the new trend starting from 0.014801 and the last resistance as 0.174767, Fibonacci levels show key support levels at 0.098506, 0.068505, and 0.051077, which will be important in the future.
Personally, I bought in after breaking the weekly resistance of 0.097620 and closing above it with the confirmation of RSI entering the overbought zone. If you bought similarly or at lower points, you might consider selling after a candle closes below the 0.097620 support or removing your initial investment and staying in the coin with just your profits.
📅 Daily Time Frame Analysis:
After breaking the 0.051920 resistance and entering the RSI overbought zone, and with Bitcoin breaking 30,000 and stabilizing, altcoins including KAS experienced a pump.
Using Fibonacci retracement, the price corrected to about 38%, suggesting that if we break the 0.185222 resistance, a fresh upward trend might start.
For future resistances beyond 0.185222, we use Fibonacci extension, predicting potential resistances at 0.2515, 0.3113, and 0.4087.
⏰ Four-Hour Time Frame Analysis:
Due to high volatility and the overall bullish trend in higher time frames, corrections in KAS are generally less severe compared to other coins.
📈 Long Position Strategy:
wait for a break and confirmation above 0.150861 or 0.160140, and be sure to position yourself after breaking 0.178292. The 0.1782 level needs to be tested again for precise targeting.
📉 Short Position Strategy:
there are better coins in the market like BINANCE:ATOMUSDT , BINANCE:STXUSDT , BINANCE:SNXUSDT , BINANCE:JASMYUSDT , and BINANCE:NEARUSDT . Given the bullish trend, avoid shorting KAS . Bullish coins tend to pump easily during market recoveries, triggering your stop losses.
🛒 Buy Strategy:
For re-entry, wait for a daily or weekly close above 0.185222. Before investing, thoroughly research the project; there might be opportunities to increase your holdings along the way.
🔍 Also, consider the overall market conditions and Bitcoin's behavior. If Bitcoin moves towards the 71,710 resistance and BTC dominance continues to drop, bullish coins like KAS can provide significant gains.
🔑 Support and Resistance Levels:
Support Levels: 5.565, 4.776, 3.969
Resistance Levels: 6.844, 7.629, 8.360
😊 If you'd like me to analyze a specific coin or currency pair, be sure to comment so that I can allocate the next analysis for you!
⚠️ Also, please remember that I'm just an analyst, and this isn't financial advice . We're here to stay in the market and maximize profits by adhering to risk and capital management principles.