2024-7-24 10:30 |
YouTuber Zach Rector, with more than 78,000 subscribers on YouTube, made a price analysis of Kaspa using some price indicators like Fibonacci Extensions, Bollinger Bands, and market sentiment. Let’s look at his analysis in detail.
Kaspa has grown to become one of the top coins in the crypto market. The coin is currently ranked number 25 in market cap with more than $4 billion.
The analyst sees a possibility of a 10x to 50x increase, which would take Kaspa to $40 to $60. This could also make KAS one of the top 10 cryptocurrencies.
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Fibonacci Extension and Bollinger Bands AnalysisThe analysis begins with Fibonacci (FIB) extensions to estimate potential price targets. The first major move of the bull run to the first major sell-off. Holding the 0.5 Fibonacci level is seen as a strong bullish sign.
Kaspa price has also broken above the 161.8% Fibonacci extension level and made it a support. KAS Price is expected to spike to 261.8% Fibonacci Level, around $0.34. This will also be a 2x price increase from the current price of $0.17.
Rising to the 361.8% Fibonacci Level will be over an 8x price increase, and the 423.6% Fibonacci Level will be a 15x price increase, which will take the price to $2.75 and also be a market cap of around $60 billion.
Current price action is above all moving averages, with Bollinger Bands showing a tight squeeze, indicating potential for a significant move.
Comparative Strength and Altcoin SeasonKaspa is classified as one of the strongest coins, placed on the “blue list,” the best ranking in the presenter’s system.
Currently, it is Bitcoin season, with Bitcoin dominance still strong. A true altcoin season, where altcoins outperform Bitcoin significantly, has not yet begun.
KAS shows strong technical signs of future growth. The price predictions suggest a substantial potential upside if market conditions remain favorable.
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The post Kaspa Price Prediction: How High Can KAS Spike This Crypto Cycle? appeared first on CaptainAltcoin.
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