After dipping to $0.056 during the most recent market crash, the Kaspa price managed to bounce back and is now trading above $0.072. A positive sign is definitely that Kaspa had one of the strongest bounces of over 20% from lows compared to other top altcoins.
Have you heard about new crypto YouTuber ‘ImpossibleAnalysis’? He posts chart analysis on a daily basis for popular coins and he updated his Kaspa price outlook in one of his recent videos.
Kaspa’s Critical Price Levels
In his latest analysis, ImpossibleAnalysis reviewed Kaspa’s recent price movements with disappointment. Instead of bouncing at expected support levels, Kaspa broke through them, forcing an update to the Fibonacci retracement levels he uses for technical analysis.
The analyst identifies $0.076 as the crucial level to watch right now. As long as Kaspa remains below this price point, the market remains bearish. Currently, the price appears to be stuck right at this resistance level, struggling to break through.
If Kaspa manages to push up to $0.092, it would show some strength, but according to the analysis, it would still be operating within a bearish trend. However, breaking above $0.092 could be the first sign that the bottom is truly in.
KAS Price Prediction
The macro downtrend for Kaspa began in July last year and continues to influence price action. Major resistance sits at the $0.11-$0.12 range. Even if Kaspa climbs to $0.12, it could technically still be in a bearish pattern according to the analysis.
For a truly bullish reversal, Kaspa needs to break above $0.12. If this happens, ImpossibleAnalysis suggests a new all-time high could be in play, with potential targets up to $0.30.
On the bearish side, if Kaspa fails to break above $0.076, the market outlook remains negative. In this scenario, the analyst projects a possible drop to the $0.04-$0.046 range, where he’s marked a support zone.
The path forward for Kaspa is quite clear according to this technical analysis: breaking above $0.076 might help avoid a drop to $0.048, while surpassing $0.092 would invalidate the bearish scenario altogether. Ultimately, pushing beyond $0.126 would likely signal a new all-time high is coming, while failing to break $0.076 could send the price down to $0.046.
Read also: Expert Pinpoints the Best Time to Accumulate Kaspa (KAS) – Latest on Crescendo Upgrade
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