Kaspa (KAS) Price Surges 15%, Targeting $0.081 as Open Interest and Funding Rate Flip Positive

Kaspa (KAS), a blockchain platform known for its high throughput and decentralized architecture, has experienced a significant rebound, surging 15%

Kaspa (KAS) has experienced a significant rebound, surging 15% after hitting a two-year low in early March. This sudden surge in its price comes amidst a broader resurgence in the cryptocurrency market, which has seen increased trading volumes and renewed investor confidence.

Kaspa’s performance in recent days has been remarkable, with the coin demonstrating strong demand, accompanied by rising open interest and a positive funding rate, all signaling bullish market sentiment.

Kaspa’s 15% Rally

In the past 24 hours, Kaspa’s price surged dramatically, adding 15% from its recent low. This sharp price movement is notable as it positions Kaspa among the top gainers in the market.

The sudden uptick follows the coin hitting a two-year low on March 11. A major contributing factor to the price surge is an increase in trading volumes, now at $189 million, showing a substantial rise of over 95%.

This spike in trading activity indicates that the price increase is not driven by speculation, but rather by genuine demand and market participation.

Strong Market Participation

Further highlighting the growing interest in Kaspa, open interest has also surged to $64 million, showing a 7% climb. Open interest refers to the total number of derivative contracts that have not yet been settled.

A rising open interest typically signals that more capital is entering the market. In this case, it indicates a growing market interest in KAS.

With increased participation and fresh capital flowing into the market, the bullish trend could continue in the near term.

Additionally, Kaspa’s funding rate has flipped from negative to positive, another strong indication of bullish sentiment. The funding rate is the periodic fee exchanged between long and short traders in perpetual futures contracts.

When the rate is positive, it means long traders are paying short traders, denoting a shift towards a more optimistic outlook for the asset. At present, the funding rate for KAS stands at 0.0013%, highlighting the growing confidence among traders.

Testing Key Support Levels

Currently, Kaspa is trading at $0.066, having bounced off a critical support level at $0.065. This price level is important, and its ability to hold this support will be crucial in determining whether Kaspa can continue its upward momentum.

If Kaspa can maintain this level, there is a strong possibility of an upward move toward $0.081 in the near future. A sustained rally from this support level would indicate a solid foundation for the asset to build further momentum.

However, if selling pressure picks up and Kaspa fails to hold above $0.065, the coin could see a price pullback, potentially dipping toward the next key support zone at $0.049.

Such a move would erase much of the recent gains, and market participants would need to reassess their positions.

Bullish Outlook for Kaspa

Overall, Kaspa’s strong rally, rising trading volume, increasing open interest, and positive funding rate point toward growing investor confidence in the asset.

If the coin can establish a solid foundation above $0.065 and maintain this support, Kaspa could see further gains, possibly targeting the $0.081 mark in the short term.

However, while the outlook remains bullish, the asset’s future performance will depend heavily on its ability to retain support levels and continue to attract new capital.

The market will need to monitor these key price levels closely, as they will provide important signals for whether Kaspa’s upward momentum can be sustained or if a breakdown will occur.

With the broader market showing signs of recovery, Kaspa’s future looks promising if it can build on this recent surge and sustain investor interest.