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KAS price slumps 4%: can it bounce back?
Kaspa (KAS), a Layer-1 blockchain protocol known for its blockDAG architecture, had recently emerged as the crypto market’s top gainer.
However, the trend has reversed, with KAS now trading at $0.07533, down 4.17% in the past 24 hours.
CoinMarketCapThis shift follows a brief rally where the coin had broken through a key resistance zone that held for 29 days.
While trading volume remains elevated, the loss in price signals renewed pressure from sellers, dampening the bullish momentum that had been building into the end of the second quarter.
Price breakout loses steam
Kaspa’s earlier move above its 20-day exponential moving average (EMA) suggested a change in short-term market dynamics.
The 20-day EMA often acts as a key indicator of trend strength.
KAS had been trading below this level for nearly a month before the recent breakout, which initially hinted at a shift in sentiment.
However, the current dip back below $0.076 confirms that the bullish breakout has not held, and short-term bias may be turning cautious again.
At the time of writing, Kaspa is trading at $0.07533, below the peak hit during last week’s rally.
This invalidates the earlier assumption that buyers had fully reclaimed control, suggesting that the resistance zone is still in play.
MACD signal weakens after the crossover
The recent bullish crossover in the Moving Average Convergence Divergence (MACD) indicator had hinted at a strong upside.
The MACD line had crossed above the signal line for the first time in weeks, typically an indication of a strengthening trend.
However, with the price now falling, that signal is starting to lose validity, and traders may treat it as a false breakout unless the price recovers swiftly.
Momentum indicators like the MACD are sensitive to price reversals.
When the MACD crossover is not supported by continued price gains, the reliability of the bullish signal comes into question, increasing the likelihood of short-term consolidation or a deeper pullback.
$0.082 remains distant as downside pressure builds
Previously, the next resistance level was seen at $0.082, with potential upside extending to $0.091.
Now, those targets seem more distant, as Kaspa struggles to maintain upward momentum.
If the price remains below the 20-day EMA, further decline toward $0.069 becomes more likely.
The short-term outlook has changed significantly with today’s downturn, and any recovery would need to first reclaim the $0.076–$0.078 range before challenging higher resistance levels.
The zone between $0.069 and $0.076 remains crucial for determining KAS’s immediate path.
The post KAS price slumps 4%: can it bounce back? appeared first on CoinJournal.