2023-11-27 18:30 |
The price of Kaspa (KAS) has been on a downward trend over the past 8 days after reaching a peak of $0.15. The cryptocurrency has since declined by over 10% and is currently trading around $0.12.
Cryptocurrency analyst hodler0 believes Kaspa could be presenting a bull flag pattern, tweeting: “$KAS bull flag, expect a big move upside if it breakouts. Probably to 0.2 – 0.3 range. #kaspa.” A bull flag is a trend continuation pattern marked by a period of consolidation following a strong uptrend. Hodler0 suggests that if Kaspa breaks out above its current trading range, it could surge as high as $0.20 to $0.30.
However, nonfungiblecryp has a more bearish view, tweeting: “$KAS : Bearish momentum is declining. Bulls should step in soon to teleport #kas to 20 and then 50 cents !#kaspa.” This analyst believes bearish momentum is still in control of the Kaspa market, although they expect bulls may step in soon to push the price back up towards $0.20 initially and then potentially $0.50.
The Diverging Opinions on Kaspa’s Price Action
Analysts seem to have differing views on whether Kaspa will continue its downward move or find support and break out to the upside. Hodler0 is more optimistic, identifying a bull flag pattern that could spur a surge if Kaspa pushes above its current trading range. Meanwhile, nonfungiblecryp acknowledges fading bearish momentum but doesn’t necessarily see an imminent bullish breakout coming.
The Debate Over Kaspa’s Next Key Levels
If Kaspa does indeed break out from its current consolidation, analysts have eyed some key price levels as potential upside targets. Hodler0 specifically highlights the $0.20 to $0.30 zone if the bull flag yields further gains. Nonfungiblecryp also sees $0.20 as an initial target if bulls can wrest control of the market, followed by a more ambitious $0.50 level after that.
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The post Kaspa Bull Flag Suggests Bearish Momentum Decline, KAS Analysts Expect a Surge to These Prices appeared first on CaptainAltcoin.
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