2024-5-22 11:15 |
A crypto analyst, who goes by the name “The Man With A Ball,” has laid out a compelling case for why investors should seriously consider accumulating Kaspa (KAS). In an X thread, the analyst draws parallels between the current stage of Kaspa and Cardano’s (ADA) historic run, suggesting that KAS could potentially see a 30x price surge, mirroring ADA’s remarkable trajectory.
According to the analyst, Kaspa finds itself in a similar position to Cardano back in 2021, when ADA’s market capitalization skyrocketed from $3 billion to a $91 billion in just 10 months, about a 30x spike. The analyst highlights that Kaspa’s current market cap is at the same level that Cardano was at the start of its historic pump.
Delving into technical analysis, “The Man With A Ball” points out several bullish indicators for Kaspa. The Moving Average Convergence Divergence (MACD) shows the largest drawdown and consolidation period Kaspa has ever experienced, lasting for six months within a range of $0.10 to $0.19. This prolonged compression, according to the analyst, could potentially lead to an explosive move once the pressure is released.
Furthermore, the Stochastic RSI (StochRSI) has bottomed out and is now turning upwards, signaling a potential trend reversal. Additionally, Kaspa has broken out on the weekly chart, exhibiting a bullish falling wedge pattern, which is often considered a bullish signal in technical analysis.
Beyond the technical indicators, the analyst emphasizes the significance of Kaspa’s upcoming milestones and fundamentals. In June, the highly anticipated KRC-20 standard is scheduled for preview, which will enable the creation of tokens and decentralized applications on the Kaspa network.
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Show more +Show less –Moreover, the RUST upgrade, which is currently underway, will enable Kaspa to achieve an impressive throughput of 10 blocks per second, a substantial improvement over Bitcoin’s one block every 10 minutes. These developments are expected to unlock new use cases and drive adoption for the Kaspa ecosystem.
The analyst also highlights the potential impact of increased liquidity and institutional involvement in the crypto market during this cycle. With major players like BlackRock and centralized exchanges (CEXs) expected to ramp up their marketing efforts, the analyst believes that the influx of new capital and exposure could further fuel Kaspa’s growth.
Read Also: Polygon (MATIC) and Cardano (ADA) Prices ‘Wake Up’ on the Heels of Ethereum ETF News
Drawing inspiration from the words of renowned crypto analyst Raoul Pal, “The Man With A Ball” urges investors not to miss out on the “Technological Revolution” that cryptocurrencies represent, likening Bitcoin to digital gold and Kaspa to digital silver.
The analyst concludes by praising the Kaspa team, led by Hashdag and Michael Sutton, for their vision and execution. Additionally, the strong community support from influential accounts like Kaspa Silver, Braver Crypto, Cryptographur, Miko Genno, Crypto Galaxy, Crypto Jon, and Official Travlad is highlighted as a testament to the project’s potential.
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The post Kaspa (KAS) Could Be Ready to Spike 30x Imitating Cardano’s (ADA) Historic Pump: Here’s Why appeared first on CaptainAltcoin.
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