The post Kaspa price prediction – Could a 93% fall be on the cards in 2025? appeared on BitcoinEthereumNews.com.

KAS recently set a record, with over 538,000 addresses now holding the asset However, this milestone has had little to no impact on the crypto asset’s price performance Kaspa [KAS] has underperformed lately, particularly following a market-wide correction. In fact, the asset dropped by 21.92% over the past month and further analysis suggested the decline may not be over yet. At press time, projections indicated that KAS could see a more significant drop on the charts. Some projections even go as far as predicting a potential 93% price crash, if a critical support level is breached. New milestone – KAS holders hit record high The number of addresses holding KAS has surged over the last 24 hours, with figures for the same hitting a new record. Data from Kaspalytics revealed that 538,030 addresses now hold at least 1 KAS. Typically, such growth suggests traders are accumulating the asset, often a precursor to price hikes. Worth noting, however, that despite this milestone, KAS has seen a minor price dip of 0.47% over the last 24 hours. Source: Kaspalytics A broader analysis of its price action indicated that a bearish trend may still be on the horizon, with further declines contingent on the asset’s ability to hold a critical support level. KAS to face potential 93% decline? At the time of writing, KAS appeared ready for a significant price drop as its chart revealed a classic head-and-shoulders pattern. Especially with the price approaching the neckline. The neckline seemed to act as a critical support level, preventing a sharper decline. However, if this level is breached, KAS could see a steep free fall on the charts. Source: TradingView Using TradingView’s price range data, the projected drop can be as steep as approximately 93%, potentially bringing the asset’s value down to $0.00795. AMBCrypto’s analysis…

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Filed under: News - @ December 29, 2024 5:06 am