The Kaspa price is currently trading below the key moving averages, indicating a strong bearish trend in the market. This bearish sentiment has been evident in the recent trading sessions, with aggressive selling pressure causing the price to drop.
The price action of Kaspa crypto has consistently demonstrated a bearish trend, with lower lows being formed over the past several months. This negative sentiment has contributed to the overall bearishness observed in the charts.
Furthermore, the ongoing trend heavily favors sellers, creating a corrective stage that has made buyers cautious. The price is currently striving to maintain gains above the 50-day EMA, but the overall market sentiment remains bearish.
As of the time of writing, the Kaspa price stands at $0.101070, experiencing a 2.78% intraday decline. The trading volume is at $29.641 million, while the market cap reaches $2.261 billion. These figures highlight the overall bearish performance of the cryptocurrency, with negative returns over different time frames.
In the 1-D timeframe, the Kaspa crypto is trading below the 20 and 50-day EMAs, indicating a lack of support for the price trend. The MACD indicator shows a bearish crossover, further signaling potential downside for the KAS crypto price.
On the 4-hour charts, the Kaspa price is range-bound with low volume levels, offering little indication of an upcoming rise. Both the RSI curve and MACD indicator reflect a bearish sentiment, suggesting a lack of bullish momentum in the short-term.
Overall, technical oscillators support a bearish trend in the Kaspa price, with significant resistance levels at $0.128899 and support levels at $0.075830. Investors are advised to conduct their own research before making any financial decisions.
This analysis was contributed by Amanda Shinoy, a finance expert with an MBA in finance and a dedicated advocate for increasing the presence of women in the crypto industry. Her insights on technical analysis and price prediction are highly regarded in the industry.
