The cryptocurrency market continues to display a mixed sentiment as top tokens display a neutral price action whereas the mid-cap and low-cap altcoins have recorded significant price action in their respective portfolios over the past few days.
On the other hand, the Kaspa (KAS) price has recorded a surge of 328% in its trading volume and added approximately 10% within the past 24 hours. Moreover, it has added 6.92% within the past day and 40.27% over the past 30 days, indicating a bullish outlook for the altcoin this month.
After displaying a bearish price action in April and recording a low of $0.09760, the bulls regained momentum and the altcoin recorded a jump of 30.85% within the next few days. Following this, the price traded close to its resistance level of $0.14050 for a brief period.
As the volatility in the crypto market grew, the bulls recently broke out of the resistance level by adding approximately 10% within the past 2 days.
With a trading price of $0.14025, a circulating supply of 23,821,687,224 KAS tokens, and a market cap of $3.570 Billion, the Kaspa token has successfully secured the 29th place in the global cryptocurrency list.
The Cross EMA 50/200-day shows a bullish price pattern in the 1D time frame, suggesting a positive sentiment for the altcoin during the upcoming days.
The Moving Average Convergence Divergence (MACD) displays a constant green histogram, indicating an increase in the buying-over-selling pressure in the crypto market. Further, the averages show a bullish curve in the chart, suggesting a positive outlook for the altcoin in the coming time.
If the market holds the price above the support level of $0.14050, the bulls will continue to gain momentum and test its resistance level of $0.1620. Moreover, if the bulls continue to overpower the bears, the price will prepare to test its upper resistance level of $0.18375.
Conversely, if the bears overpowered the bulls, the price would lose momentum and test its support level of $0.14050. Furthermore, if the bears dominate the market, the KAS coin price will plunge toward its lower support level of $0.11685.
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