Kaspa (KASUSD) Price Forecast: August 3
KASUSD bullish move will most likely continue as the crypto market remains strong above the supply trend levels at the moment. The coin price may likely continue its uptrend if buyers should exert more force into the price action in the market and close the daily candle above the $0.042750 previous barrier, the next recovery move might reach the $0.045000 high level and beyond.
Key Levels:
Resistance Levels: $0.030000, $0.0350000, $0.0400000
Support Levels: $0.013000, $0.012000, $0.011000
KAS (USD) Long-term Trend: Bullish (Daily Chart)
The Kaspa market remains bullish on the higher time frames. This is clear as we can see the prices trading above the two EMAs, indicating an uptrend.
The sustained bullish pressure pushed the currency pair up to the $0.041000 supply level during yesterday’s session and sustained it. This has made it capable for the coin to remain in an uptrend in recent times.
The market price of KASUSD at the $0.042630 high level above the moving averages shortly after the daily chart opens today indicates that buyers are having the market price at their disposal at present.
Hence, the crypto market value might increase further to a $0.042630 high level if the current support level at $0.034000 holds.
However, if the buy traders successfully keep the Kaspa prices above the $0.023650 value, a retest of the previous high at the $0.042750 level is possible soon in the higher time frame.
KAS (USD) Medium-term Trend: Bullish (4H Chart)
On the medium-term outlook, the KASUSD market still trades in a bullish trend. The sustained bullish pressure at the $0.040941 level during the previous session actually made it capable for the buy investors to retain the strength in its recent high.
Today, despite the moves by the sell traders the price of Kaspa remains in an uptrend at the $0.042000 supply value which is above the two EMAs. A possible breakout from the mentioned supply level will provide a higher float for buyers and prolong the ongoing recovery.
Further, it is very likely for the coin price to rise further as the market remains in an upward direction on the daily signal, this means that the buying pressure will most likely continue. So we expect the new correction to hit the $0.045000 resistance value soon in its medium-term scenario.
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