Date: Mon, Nov 18, 2024, 05:43 AM GMT
The cryptocurrency market is buzzing as the leading Layer-1 token, Kaspa (KAS), gears up for a major milestone—its listing on Kraken tomorrow. On November 14, Kraken announced that Kaspa (KAS) would be available for trading on November 19 at 14:00 UTC, with the trading pairs $KAS/$USD and $KAS/$EUR. This news has sparked positive momentum, with KAS rallying over 5% and currently trading at $0.1599.
Kaspa (KAS) Flashing Bullish Signals
Kaspa recently rebounded strongly from its key support level at $0.10, signaling renewed investor confidence. The price is now testing a crucial resistance trendline at $0.16, and it appears that this trendline is almost breaking out. A confirmed breakout above $0.1634 could solidify bullish momentum, paving the way for KAS to target its next resistance levels at $0.1763 and $0.2084. This represents a potential 30% upside from the current price.
The technical pattern visible on the chart—a near-breakout from the descending resistance trendline—often indicates a bullish continuation. Additionally, the Relative Strength Index (RSI) is trending upwards, supporting the case for further gains.
What to Expect?
With the Kraken listing just around the corner and bullish signals flashing on the charts, KAS appears poised for an upward rally. If the breakout confirmation occurs, Kaspa could gain significant momentum and test higher resistance levels, making it an exciting token to watch in the coming days.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.