Kaspa (KAS) Could Be Ready to Rally — One Last Bullish Signal Needed!

Kaspa (KAS) has been showing promising signs of recovery after a period of downtrend, with technical indicators suggesting a potential rally might be on the horizon.

Kaspa (CRYPTO: KAS) is showing strong signs of a potential price rally, with technical indicators suggesting a pending breakout.

What Happened: Kaspa has been displaying impressive resilience as it holds critical support at $0.05.

This resilience has not escaped the keen eye of cryptocurrency analyst Dark Horseman, who took to X to highlight the promising signals emerging in the KAS chart.

“Lots of people have been asking me about $KAS. It’s definitely proved it’s worthy of the hype in my opinion,” the analyst wrote.

“We've seen some mixed signals on the chart, which are now starting to lean bullish. Daily Stochastic RSI is overbought, which could suggest a small pullback.”

“But weekly Stochastic RSI is now in bullish momentum and looks set to recover. This divergence between timeframes usually occurs ahead of some decent price action.”

Another noteworthy development is that KAS price has crossed above the 50-day Exponential Moving Average (EMA), which has been acting as dynamic resistance.

“It’s also worth noting that $KAS has now closed above the 50-day EMA, which is a common technical analysis signal of a potential trend shift,” said Dark Horseman.

What Next For Kaspa: According to the analyst, the “final confirmation now would be a clean break above the $0.08 resistance.”

This price level is an immediate resistance that has stalled previous attempts at recovery.

“If we can get above that, then I think it really opens the door for some good upside. It would form the first higher high since mid-February, which is a classic sign of a trend reversal.”

“All in all, $Kaspa is starting to look bullish again. But I think most traders will want to see that final confirmation before committing.”

Where Is The Next Key Resistance: A technical analysis pinpoints several key zones traders could keep an eye on:

> Immediate resistance is at $0.08, which has stalled the recent recovery attempts.

> A broader resistance band is located between $0.075 and $0.078, which coincides with the 50-day EMA. This level is likely to provide some resistance if the price tries to rally further from the $0.05 support.

> Below the $0.05 is another level of support at $0.044, which is the low reached on 11th July.

> A broader support zone is seen between $0.038 and $0.042, which could offer stronger support if the price faces stronger selling pressure.