Kaspa (KAS) Price Correction: Challenges Loom for the Optimistic Bulls
Kaspa (KAS) Price Correction Ahead: Challenges Loom for Optimistic Bulls
Kaspa price is poised for further correction after the bulls faced heavy losses these past few days. Could the altcoin prevent this massive correction?
Kaspa Optimists Could Back Off
KAS traders that have been making bullish bets are losing owing to the red candlesticks on the daily chart. Following a 10% correction in Kaspa price in the last 24 hours, many long contracts witnessed liquidation.
In just two days, over $404 million worth of long liquidations have been recorded. This might keep traders from attempting another attempt at placing their bets on a price. As is, price indicators are not supportive of a rally anyway.
KAS Price Prediction: What Awaits?
Kaspa's price is trading at $0.127 at the time of writing after failing to break through the resistance of $0.145. By the looks of it, KAS will halt its decline after tagging $0.117. Should the bearishness remain intense even then, the altcoin could fall to test the next crucial support at $0.103. This would result in a 17% fall for KAS.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.