The post Kaspa (KAS) Faces Key Resistance Amid Bullish Momentum appeared on BitcoinEthereumNews.com.

Kaspa (KAS/USDT) has recently shown more fluctuations, including an increase and then a decrease in the price. Technical analysis gives crucial signals regarding areas that could act as significant support and resistance to price. Analyst dark_knight_btc shares Kaspa’s potential for the next moves and if the asset can hold above these levels, then there could be a bullish run. KAS Hits Resistance at Upper Bollinger Band with Neutral RSI KAS tested the upper Bollinger Band the price rose to $0.14697 before pulling back to the upper Bollinger Band. The reversal pattern that followed shows that sellers are present and are driving the price down, which could be a consolidation phase. – Advertisement – 1-day KAS trading chart | Source Tradingview Currently, the Relative Strength Index (RSI) stands at 54.46 which confirms the momentum state neither overbought nor oversold. Lower RSI readings from previous periods indicate that buying pressure has declined. This neutral stance in RSI makes the possibility of a further up move as well as a further down move open, but recent performance signals consolidation more or a short-term bearish outlook. Analyst Observations: Strong Bounce and Approaching Resistance Levels In the chart shared by analyst dark_knight_btc Kaspa has been supported by the 0.786 Fibonacci retracement level around $0.10483, where several technical analysts look forward to a reversal. – Advertisement – $KAS | $USDT | @KaspaCurrency | 1D Update$KAS has shown impressive resilience, bouncing strongly from the 0.786 Fibonacci retracement level, a key zone often viewed as optimal for price recovery. The bullish MACD and increasing buyer volume suggest solid momentum that could… pic.twitter.com/VubXRHKv82 — Dark Knight 🦇 (@dark_knight_btc) November 12, 2024 The strong bounce back from this level means that buyers are firmly supporting the price in this area, which may also be a bullish area. If KAS holds…

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Filed under: News - @ November 13, 2024 9:26 pm