Kaspa Whale Buys Big as KAS Price Hits Key Support – Buying Opportunity?

The Kaspa (KAS) market has seen a shift as a prominent whale increased its holdings while the broader market experienced a sharp correction.

Prominent crypto whale, Whale #5, has increased its Kaspa (KAS) holdings by 11 million tokens, as observed by crypto analyst @Crypt0Proselyte. This brings the whale’s total KAS stash to nearly half a billion tokens.

However, what makes this purchase noteworthy is that Whale #5 usually buys Kaspa in smaller increments, ranging from 2 to 3 million tokens at a time. This large-scale purchase suggests a strong conviction in the asset’s long-term potential.

According to @Crypt0Proselyte, the whale may be anticipating lower price points, which would present an opportunity for strategic positioning before a potential market rebound.

On the other hand, @Dark__Horseman highlights the buying interest emerging as Kaspa’s price dips to the $0.07–$0.08 range. Many investors are considering this a prime opportunity to accumulate before the next potential rally.

The analyst advises traders to deploy capital wisely and to have patience as market conditions stabilize.

At press time, Kaspa trades at $0.09889, down 3.17% in the past 24 hours and 19.08% over the past week, according to CoinGecko.

Technical indicators reveal a bearish trend, with the price dropping below the immediate support zone of $0.12570–$0.12816. The next critical support level lies between $0.09716 and $0.09900, where the price is currently hovering.

A further breakdown could push KAS toward the $0.07–$0.08 range, which aligns with market expectations.

Resistance levels include $0.14496, which coincides with the 50 EMA, and $0.17926, where sellers may emerge. The all-time high of $0.20995 remains a long-term target, contingent on renewed bullish momentum.

The Stochastic RSI indicates that Kaspa is oversold, with the price likely to experience a relief bounce from these levels.

Moreover, the Volume Profile analysis shows activity between $0.125 and $0.140, suggesting strong resistance at higher levels.

While sentiment remains bearish in the short term, long-term holders are accumulating, expecting a market turnaround.

Traders anticipate either further downside if support fails or an entry point for long-term gains at current prices. With whale accumulation and oversold indicators, Kaspa’s next move is worth keeping an eye on.