Home / Analysis / Crypto / Technical Analysis / Kaspa (KAS) Gains 38% Since Last Contact With Key Support Level

Kaspa (KAS) Gains 38% Since Last Contact With Key Support Level

Published
Nikola Lazic
Published
By Nikola Lazic
Edited by Ryan James

Key Takeaways

  • The price has rebounded from critical horizontal support near $0.10.
  • An impulsive wave structure is emerging, but confirmation is needed.
  • KAS showing positive momentum with more upside room.

The daily chart shows that momentum is recovering from oversold conditions.

The recent price action for Kaspa (KAS) shows notable daily and 1-hour chart developments, providing insights into its medium- and short-term trends.

KAS Price Analysis

The daily chart reflects a completed corrective ABC pattern after a five-wave impulse. Wave C reached $0.10 on Nov 4, a 50% drop in price after wave 5 peaked at $0.208 on Jul 31.

This level served as a solid demand zone, initiating the upward movement. The price now trades at $0.147, slightly below the 0.5 Fibonacci retracement, which acts as immediate resistance.

KAS price analysis
KASUSD up 38% | Credit: Nikola Lazic/TradingView 

A breakout above $0.166 (0.382) could confirm the beginning of a new impulsive phase, targeting previous highs around $0.208 and beyond.

The daily chart’s Relative Strength Index (RSI) supports this outlook, showing recovery from oversold levels near 30 to neutral territory.

This uptick in momentum suggests growing buyer interest, although a rejection near $0.166 could lead to a retest of support zones.

Horizontal support levels at $0.1074 and $0.095 remain critical for sustaining the bullish structure. Any breakdown below these levels could invalidate the bullish thesis and lead to further downside.

KAS Price Prediction

On the 1-hour chart, the price is in the early stages of a five-wave Elliott Wave structure. Wave 1 completed at $0.189, followed by Wave 2 retracing to $0.11, near the 0.786 Fibonacci level.

This retracement aligns with a typical correction for Wave 2, suggesting that Wave 3 is underway.

Wave 3 is expected to target higher Fibonacci extensions, with $0.208 being a key bullish target. Within this wave, smaller sub-waves indicate intermediate resistances at $0.182 (0.236 Fibonacci) and $0.208 (previous high).

A brief correction in Wave 4 might follow, retracing to $0.182 before a final push in Wave 5 to the $0.270 region.

KAS price prediction
KASUSD new five-wave impulse starting | Credit: Nikola Lazic/TradingView 

The RSI on the 1-hour chart has entered neutral to slightly overbought territory, suggesting that the initial phase of Wave 3 is gaining momentum. Traders should watch for volume increases to confirm the breakout.

Failure to sustain above $0.145 would indicate weakness and may lead to a retest of the 0.618 Fibonacci level at $0.14103 before resuming the upward trend.

Key Levels to Watch

Daily Chart (Higher Time Frame):

  • Major Support: $0.107 (0.786 Fibonacci retracement).
  • Critical Support: $0.095 (Wave C bottom).
  • Short-Term Target for Wave 3: $0.25 (1.618 Fibonacci extension).
  • Immediate Support: $0.145 (0.5 Fibonacci retracement).
  • Key Support: $0.141 (0.618 Fibonacci retracement).
  • Immediate Resistance: $0.163 (0.382 Fibonacci retracement).
  • Key Resistance: $0.208 (previous high).
  • Invalidation Zone: Below $0.107, signaling potential downside risks.
Disclaimer: The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Was this Article helpful? Yes No

Nikola Lazic

Nikola Lazic is a cryptocurrency analyst and investor working in the industry since 2017. He holds a bachelor's degree in Sociology, which enables him to better understand the psychology behind the crowd´s positioning. Consequently his preferred analytical tool is Elliott Wave Theory in combination with price action analysis. Combining his experience in trading and investing with knowledge in content writing he strives to bring the most accurate and actionable information. Expertise: Cryptocurrencies, Technical analysis, Elliott Wave Theory, On-chain metrics, Research reports.
See more