Kaspa (KAS) Price Correction: Potential Breach of $0.10 Support

Tuesday, 19 March 2024, 12:00

Kaspa (KAS) price has been declining for weeks, raising concerns about breaching the critical $0.10 level. Recent investor sentiment and market indicators suggest further downside may be imminent, with negative funding rates and declining open interest signaling bearishness. However, a potential positive correlation reversal with Bitcoin could lead to a price recovery if key support levels are maintained.

Kaspa (KAS) Price Correction: Potential Breach of $0.10 Support

Kaspa's price has been consistently declining since mid-February, showing a 32% correction compared to the broader crypto market.

Kaspa Investors to Likely Back Down

Open Interest has declined by about 31.5% in the past week, indicating a shift in investor sentiment from optimistic to pessimistic. The Funding Rate is also dropping, hinting at a negative bias in traders' expectations.

KAS Price Prediction: Negative BTC Correlation Could Push Price Up

Kaspa's price is nearing the $0.11 support level, facing the risk of breaching $0.10 and experiencing a 21% correction. However, a negative correlation with Bitcoin provides a potential path for a price recovery if key support levels are held.

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.