CoinDesk Reports:
KAS has declined by 11.80% over the past 7 days. Despite this decrease, the trend remains upward.
On June 30th, KAS reported, citing AMBCrypto, a surge of 20% days later. However, a week after, KASPA fell by 11.80%, causing concern among long-term holders of KASPA.
Despite the decline, the market remains optimistic with positive sentiment. Consequently, several analysts predict a surge in market capitalization. KAS’s market value surged over 30 days, surpassing PEPE and ICP.
Crypto analyst @Sukie, on X (formerly Twitter), shared their forecast, noting,
“Dollar KAS could reach a market cap of over $100 billion, not a moon boy. In 2017, during the bull market, Dollar XRP reached a market cap of $130 billion when there was little money in the market. Last bull market, Dollar BNB went from $3 billion to $10.8 billion MC. No other cryptocurrency compares to Kaspa’s fundamentals.”
Historical data suggests KAS’s market cap will experience exponential growth. Typically, market cap growth indicates continued price escalation and user activity in the foreseeable future.
Market Sentiment
According to Market Prophit, KASPA continues to maintain positive market sentiment.
Specifically, Crowd Sentiment is at 0.06, Z-Score at 0.35, with overall Market Sentiment at 0.07. Positive market sentiment indicates users and investors are optimistic about KASPA’s future potential.
What KAS Price Charts Show
As of the time of writing, KAS’s Aroon lines exhibit a strong upward trend. Specifically, the 50-period Aroon Up sits above the 7-period Aroon Down.
With Aroon lines configured this way, it indicates a strong uptrend in place and positioned to continue. Similarly, it suggests prices are within market value range.
Directional Movement Index further supports this. As of publication, the +DI (blue) at 22 is higher than the -DI (red) at 21.
This setup implies KASPA is in a favorable position, with sustained positive market sentiment driving further upward momentum.
Examining the Open Interest Weighted Funding Rate, analysis from AMBCrypto indicates it has been largely positive over the past seven days.
A positive funding rate implies demand for long positions outweighs short positions. Hence, traders pay a premium to hold their positions, indicating bullish sentiment.
Can KAS Maintain Its Upward Trend?
AMBCrypto’s analysis of Kaspa suggests the price trend largely remains upward. After reaching a historical high of $0.194, KAS’s price experienced a short-term decline while the trend remains intact.
As of writing, following a 1.64% increase in the past 24 hours, KAS is trading at $0.1688. Breaking free from the resistance at $0.194 could propel the price to a new high of $0.23.
Thus, if losses from the weekly chart persist, prices could drop to support at $0.15.