Date: Tue, Nov 19, 2024, 09:13 AM GMT
In today’s cryptocurrency market, Kaspa (KAS) is gaining significant traction as excitement builds around its listing on Kraken, scheduled for 14:00 UTC today. Kraken’s announcement on November 14 confirmed that KAS would trade against USD and EUR. As the listing approaches, KAS has already surged over 4% in the last 24 hours and 22% in the past week, reflecting the growing optimism among investors.
Kaspa (KAS) Eyes Key Breakout
After breaking out from its $0.1583 resistance level yesterday, KAS has climbed to $0.1755, positioning itself just below a critical resistance zone at $0.1802. This level is pivotal as it marks a major test for bullish momentum.
If Kaspa manages to break above $0.1802, it could unlock significant upside potential, paving the way for a rally toward its next target at $0.2075—a level that coincides with its all-time high (ATH). Achieving this milestone would mark a 20% increase from its current price, a move that could bring further attention to the asset post-listing.
However, failure to hold above its current levels could lead to a retracement, with $0.1632 acting as the key support zone on the downside. This level could serve as a consolidation point before any further bullish attempts.
What to Watch
As the Kraken listing draws closer, the heightened trading volume and increased exposure for Kaspa could catalyze further price movement. A breakout above the resistance could also reinforce its longer-term bullish outlook.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.