Date: Fri, June 06, 2025 | 06:20 AM GMT
The cryptocurrency market continues to make sharp pullback, dragging most major tokens into the red. The latest conflict between Musk vs Trump added further bearish pressure in the since last day as Bitcoin (BTC) briefly dropped to around $103,000, while Ethereum (ETH) slipped to $2,450 today—both retracing from recent highs. This mini correction also impacted several Altcoins—including Kaspa (KAS).
KAS backs in green after hitting 24-hour low of $0.07968, but has faced a weekly decline of over 10%, and now the technical structure is showing signs of a potential bounce back.
Double Bottom Pattern Signaling an Upside Move
After hitting a 24-hour low of $0.07968, Kaspa (KAS) bounced back and is now trading at $0.084, trimming some losses from an 11% weekly decline. More importantly, the 4-hour chart shows a clear formation of a double bottom pattern — a classic bullish reversal signal that could indicate a strong upside move.
The pattern began forming on May 30, when KAS created its first bottom. A minor recovery followed, but the price was rejected near the neckline at $0.092 on June 3, leading to another drop — the second bottom — at today’s low of $0.079.
This second bottom could be the turning point.
What’s Next for KAS?
If KAS continues its current upward momentum and breaks above the neckline at $0.092, it would validate the double bottom setup. A confirmed breakout — ideally followed by a retest — may open the gates for a potential rally towards $0.10, which represents a nearly 20% upside from the neckline and a 30% move from current level.
Traders will now be watching for volume confirmation and strength above the neckline, as these are critical for sustained upside in the coming sessions.
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