• The Kaspa price increased 13% in the last 24 hours, showcasing bullishness.
  • The MACD indicator formed a bullish cross, indicating buying activity.

The Kaspa price has been in a bearish trend for a prolonged time. However, from the last few days, it is heading in an upward direction and surged 13% in the last 24 hours and 40.11% in the last five days, showcasing a positive trend.

Kaspa hit its all-time high price of $0.2075 on Aug 01, 2024. However, the altcoin failed to maintain the bullish momentum, and the price halted. Since then, the downward movement has accelerated, and KAS price traded in bearish momentum. 

According to CoinMarketCap data, at the time of writing, KAS crypto price is trading at $0.079143 with a 24-hour surge of 13%, suggesting positive momentum. The daily trading volume has soared by 85%, pointing to buying momentum, and the volume-to-market ratio is 4.25%. Moreover, the market cap is $2.04 billion, and the 24-hour trading volume is $95.68 million.

Will the Kaspa Price Break Above the 50 200-Day EMAs?

The KAS price is in a do-or-die situation. If the price breaks out above the 50-day ($0.092)  and 200-day ($0.121) EMAs, the price will start a fresh rally. But if the price fails to break out, then the long-term decline might continue.

Kaspa Price Surges 13% Amid Bullish Signs: Can It Break Key Resistance? image 0

Technical indicators are pointing to bullishness. The MACD is turned bullish, showing a positive cross with a green histogram. The MACD curve and signal curve are heading in an upward direction, indicating a positive trend. RSI is also heading in an upward direction but is currently in the neutral zone.

Furthermore, the Tradingview technical summary supports neutrality. As per the technical summary of Kaspa (KAS), out of 25 indicators, 8 are on the sell side, 10 are on the neutral side and 7 are on the buying side, suggesting neutrality.

Kaspa (KAS) is showcasing recovery signs after a prolonged bearish trend, with key technical indicators turning positive. A breakout above $0.092 and $0.121 price levels could trigger a fresh rally, while failure may continue its decline.