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Cryptocurrency News Articles
The altcoin market is heating up as technical indicators flash bullish signals for both Solana ($SOL) and Kaspa ($KAS)
Apr 12, 2025 at 12:10 am
After months of consolidation, these two popular tokens are testing key trendlines and support levels that could define the next wave of price action.
The altcoin market is heating up as technical indicators flash bullish signals for both Solana ($SOL) and Kaspa ($KAS). After months of consolidation, these two popular tokens are testing key trendlines and support levels that could decide the next wave of price action.
$SOL’s price action is testing the long-standing descending trendline that extends back to its $294 all-time high in January 2025. After dipping as low as $94, the recent bullish bounce has pushed $SOL above the $112 support level, setting the stage for a crucial breakout.
If bulls can break and hold above this trendline, the next target is strong resistance at $122, which has historically rejected price attempts. A breakout here could trigger a sharp rally as sidelined buyers return to the market.
Moreover, on the weekly chart, the Stochastic RSI is showing early signs of bullish momentum, with the blue line crossing above the orange line. This is a classic technical indicator that can precede an upside move. If this momentum continues, $SOL could be setting up for a trend reversal on the weekly timeframe, finally ending months of downward pressure.
$KAS has already made the move, breaking through its own descending trendline and setting sights on a higher high at $0.083. A break above this level would open the door for a continuation toward the psychological resistance at $0.10.
Chart patterns also show a developing W bottoming formation for $KAS, a bullish technical setup that often leads to sustained uptrends. This reversal pattern, combined with breakout momentum, gives $KAS a strong bullish case.
If $0.10 is breached, $KAS could accelerate quickly toward higher resistance zones, driven by fresh momentum and confirmation from pattern traders.
Both $SOL and $KAS are showing promising charts, but the crypto market is still subject to broader volatility, including Bitcoin’s dominance and macroeconomic news. Despite this, the technical signals for these altcoins are noteworthy.
As always, it’s crucial to practice safe investing habits and conduct thorough research before making any investment decisions. In the rapidly changing world of crypto, staying informed is key.
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