After a 25% worth drop, can Kaspa [KAS] crypto rebound to $0.12?

Kaspa’s worth dropped by double digits over the past 30 days
A number of metrics hinted at a pattern reversal in the direction of $0.12

The final 30 days had been disastrous for Kaspa [KAS] because it shed a considerable share of its worth. This may need sparked some panic amongst traders.

Nonetheless, a couple of of the on-chain metrics and technical indicators hinted at a pattern reversal. Subsequently, AMBCrypto investigated additional to search out out the viability of bulls taking up.

Kaspa’s newest massacre

KAS traders had been having a tough time because the token’s worth dropped by greater than 25% within the final 30 days. In actual fact, within the final seven days alone, the token’s worth plummeted by over 8%. On the time of writing, Kaspa was buying and selling at $0.11 with a market capitalization of over $2.7 billion.

Nonetheless, after this huge decline, a couple of of the on-chain metrics hinted at a bullish pattern reversal. AMBCrypto’s evaluation of Santiment’s information revealed that KAS’s social dominance elevated, reflecting its recognition within the crypto house.

After a pointy decline, KAS’s weighted sentiment slipped into the constructive zone – An indication that bullish sentiment across the token has been rising.

Supply: Santiment

After a pointy hike, Kaspa’s buying and selling quantity began to say no. A drop within the metric often means a pattern reversal.

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AMBCrypto’s evaluation of Coinglass’ information revealed fairly a couple of different optimistic metrics as effectively. For instance, KAS’s Open Curiosity declined. Every time the metric falls, it signifies that the possibilities of the prevailing worth altering are excessive.

Aside from these, we discovered that KAS’s lengthy/quick ratio began to climb. This advised that there have been extra lengthy positions available in the market than quick positions – A bullish sign.

Supply: Coinglass

The place is KAS heading?

Lastly, AMBCrypto checked KAS’s every day chart to search out out whether or not technical indicators additionally hinted at a pattern reversal. We discovered that Kaspa’s worth touched the decrease restrict of the Bollinger Bands. In actual fact, the token was testing a vital help on the time of writing. Such incidents are sometimes adopted by worth hikes.

After a decline, the token’s Relative Energy Index (RSI) registered a slight uptick. Moreover, the technical indicator MACD projected the potential of a bullish crossover.

Supply: TradingView

In case of a bullish pattern reversal, it gained’t be shocking to see KAS first goal $0.122. This appeared to be the case, as Kaspa’s liquidations will rise sharply at that degree.

Learn Kaspa’s [KAS] Value Prediction 2024–2025

Often, a hike in liquidations leads to short-term worth corrections. A hike above that resistance might push KAS in the direction of its August excessive.