Kaspa At All Time High: Time to Cash Out or Keep Riding the Wave
Kaspa At All Time High: Time to Cash Out or Keep Riding the Wave
Kaspa crypto has eclipsed its previous all-time high, reaching beyond the $0.18 mark, signaling a strong upward momentum.
The social dominance and volume has surged to record highs indicating the increased demand in crypto.
Kaspa crypto has embarked on a remarkable upward trajectory, emerging from a period of correction and subsequent stabilization. The price is gaining on the 5th consecutive session and has reclaimed its previous ATH of $0.18 rising from a low of $0.13.
The bulls are in complete domination and are attempting to keep thrusting the price beyond. Also, there has been significant development in the social dominance and trading volume which may impact the price trend on a short term basis.
Let's analyze whether the change in the social dominance and trading volume may impact the current trend or indicate a further continuation ahead.
Social Dominance Surges While Volume Inflow Drops: What's Next?
At the time of writing, kaspa price was exchanging hands close to $0.19 recording a positive intraday development of 5.15%. The data from a financial website app.santiment.net reported that there has been a significant growth in the social dominance curve.
<iframe title="Santiment Chart: Social Dominance (KAS), Social Volume (KAS)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=kaspa&pt=KAS&df=2024-03-10T00%3A00%3A00.000Z&dt=2024-06-04T18%3A29%3A59.096Z&emcg=1&emhwm=1&wm=social_dominance_total%3Bsocial_volume_total&wax=0%3B1&wc=%235275FF%3B%2368DBF4&ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
The social dominance of Kaspa has surged by three fold to a record high in the last couple of sessions. It indicates a drastic rise in the demand for the crypto among the investors and the community members. The rise in demand led to a positive impact on the price thus driving it close to ATH.
However, the trading volume seems to be declining after gaining for the last four sessions. As per coinmarketcap the intraday trading volume dropped by nearly 33.16% and was at $157.3 Million at the time of writing.
The recent decline in the trading volume suggests a profit booking among the investors. Now, if the volume inflow turns positive again it may indicate a heightened demand and the price may continue to show gains.
Can Kaspa Crypto Head For a Profit Booking Or Continue to Show Gains?
The Kaspa crypto over the daily chart suggests a strong bullish momentum on the charts. The crypto price is trading in green for the fourth consecutive session which points to a pending pullback in the short term.
The price performance shows that the crypto has delivered impressive gains to the investors in the short term, rising 36.19% a week and 75.64% a month. The short term gains may trigger a profit booking.
However, the price is rising with momentum and might add more gains before heading for a correction. The investors are thus advised to keep trailing at the previous day's low value to enhance their profits.
On the higher side, the price may rise to a psychological level of $0.20 in the short term. whereas, on the lower side, the $0.175 and $0.16 may act as support for the price.
Conclusion.
Kaspa crypto witnessed a significant upswing in the recent sessions and has surpassed the ATH value of $0.18. This remarkable rise in price is backed by a threefold increase in social dominance, reflecting rising investor interest.
Despite this, trading volumes have dipped by 33.16% to $157.3 million, hinting at possible profit-taking in the coming sessions. Now, If trading volumes rebound, it could signal continued demand and further price increases.
KAS crypto over the daily chart exhibits strong bullish momentum, suggesting potential short-term pullbacks. Investors may consider trailing stops at previous lows to maximize profits, with $0.20 as the next possible target.
Kaspa crypto has eclipsed its previous all-time high, reaching beyond the $0.18 mark, signaling a strong upward momentum.
The social dominance and volume has surged to record highs indicating the increased demand in crypto.
Kaspa crypto has embarked on a remarkable upward trajectory, emerging from a period of correction and subsequent stabilization. The price is gaining on the 5th consecutive session and has reclaimed its previous ATH of $0.18 rising from a low of $0.13.
The bulls are in complete domination and are attempting to keep thrusting the price beyond. Also, there has been significant development in the social dominance and trading volume which may impact the price trend on a short term basis.
Let's analyze whether the change in the social dominance and trading volume may impact the current trend or indicate a further continuation ahead.
Social Dominance Surges While Volume Inflow Drops: What's Next?
At the time of writing, kaspa price was exchanging hands close to $0.19 recording a positive intraday development of 5.15%. The data from a financial website app.santiment.net reported that there has been a significant growth in the social dominance curve.
<iframe title="Santiment Chart: Social Dominance (KAS), Social Volume (KAS)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=kaspa&pt=KAS&df=2024-03-10T00%3A00%3A00.000Z&dt=2024-06-04T18%3A29%3A59.096Z&emcg=1&emhwm=1&wm=social_dominance_total%3Bsocial_volume_total&wax=0%3B1&wc=%235275FF%3B%2368DBF4&ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
The social dominance of Kaspa has surged by three fold to a record high in the last couple of sessions. It indicates a drastic rise in the demand for the crypto among the investors and the community members. The rise in demand led to a positive impact on the price thus driving it close to ATH.
However, the trading volume seems to be declining after gaining for the last four sessions. As per coinmarketcap the intraday trading volume dropped by nearly 33.16% and was at $157.3 Million at the time of writing.
The recent decline in the trading volume suggests a profit booking among the investors. Now, if the volume inflow turns positive again it may indicate a heightened demand and the price may continue to show gains.
Can Kaspa Crypto Head For a Profit Booking Or Continue to Show Gains?
The Kaspa crypto over the daily chart suggests a strong bullish momentum on the charts. The crypto price is trading in green for the fourth consecutive session which points to a pending pullback in the short term.
The price performance shows that the crypto has delivered impressive gains to the investors in the short term, rising 36.19% a week and 75.64% a month. The short term gains may trigger a profit booking.
However, the price is rising with momentum and might add more gains before heading for a correction. The investors are thus advised to keep trailing at the previous day's low value to enhance their profits.
On the higher side, the price may rise to a psychological level of $0.20 in the short term. whereas, on the lower side, the $0.175 and $0.16 may act as support for the price.
Conclusion.
Kaspa crypto witnessed a significant upswing in the recent sessions and has surpassed the ATH value of $0.18. This remarkable rise in price is backed by a threefold increase in social dominance, reflecting rising investor interest.
Despite this, trading volumes have dipped by 33.16% to $157.3 million, hinting at possible profit-taking in the coming sessions. Now, If trading volumes rebound, it could signal continued demand and further price increases.
KAS crypto over the daily chart exhibits strong bullish momentum, suggesting potential short-term pullbacks. Investors may consider trailing stops at previous lows to maximize profits, with $0.20 as the next possible target.