Kaspa [KAS] eyes $0.07 – THESE TWO signs hint at more upside
Key Takeaways
Why are whales accumulating Kaspa [KAS]?
CryptoQuant’s Futures Common Order Measurement rose close to $0.06, hinting at renewed institutional confidence.
What limits the present rally?
KAS confronted rejection at its 20-day EMA, with the Stochastic RSI signaling an overbought market.
Kaspa [KAS] gained over 10% on the twenty sixth of October, offsetting the token’s week-long bearish run.
Rising purchaser dominance and regular whale accumulation at these worth ranges appeared to gas the rebound. Nevertheless, on the day by day chart, a number of technical indicators flashed warning because the rally neared a key resistance zone.
Might bullish on-chain indicators outweigh these cautionary indicators? Let’s discover out.
KAS whales construct positions once more
CryptoQuant’s Futures Common Order Measurement information confirmed giant traders steadily including KAS positions close to the $0.06 worth vary. The renewed exercise mirrored stronger confidence in Kaspa’s short-term outlook.
Traditionally, spikes in whale participation have preceded heightened worth volatility. The identical setup gave the impression to be forming, as accumulation hinted at strategic positioning for a possible bullish transfer.
This sustained shopping for has supplied a requirement cushion in opposition to current pullbacks. Even so, if momentum fades, these whales might unwind positions, creating short-term promoting strain.
Supply: CryptoQuant
Patrons dominate futures once more
CryptoQuant’s Futures Taker CVD turned inexperienced between the twenty fourth and the twenty sixth of October, exhibiting taker purchase dominance after a month of quick management.
This flip aligned with on-chain accumulation and advised rising bullish momentum in Derivatives markets.
If that pattern persists, Kaspa could try a transfer towards its subsequent resistance zones above $0.07.
Supply: CryptoQuant
Technicals warn of EMA barrier
On the day by day chart, KAS examined the 20-day EMA close to $0.059 at press time, a decisive barrier for additional upside.
The Stochastic RSI stood deep in overbought territory (95), implying attainable fatigue after the short-term rally. Whereas lengthy rejection wicks replicate sturdy purchase protection, a short cool-off stays doubtless earlier than any continuation.
Supply: TradingView
Cumulatively, the bias stays bullish so long as KAS holds above $0.05. A transparent break above the 20-day EMA might open a path towards $0.08 within the coming periods.
