Kaspa Price Could Skyrocket To $0.20 Following Bullish WavesKaspa Price Could Skyrocket To $0.20 Following Bullish Waves
The social metrics have recorded growth indicating the rising popularity of Kaspa.
The bulls are on the leading side, potentially pushing the price near a record high of $0.20.
Over the past week, Kaspa's price has been headed toward the north making bullish waves. The price has been trading higher for nine consecutive sessions indicating a strong buyer's influence. The weekly price performance highlights a recovery of 21% and is now left with only 13% from the record high.
At the time of writing, Kaspa was exchanging hands close to $0.179 recording a mild 1.15% gain in intraday. Along with the recent surge, Kaspa has left behind the dynamic resistance of 20 and 50 days flipping them into a support one.
In tandem with the price rise, few on-chain metrics have noted significant growth indicating more momentum pending in the crypto. Let's try to analyze and find whether it's too late or the right time to invest in Kaspa.
Weighted Sentiment Curve Validates Bullish Waves
In tandem with a price development of 21% in Kaspa, the positive sentiments have noted a growth beating the bearish ones. As a result, the weighted sentient curve has shifted to a bullish territory.
The resurgence of weighted sentiment in a bullish territory indicates the renewed confidence of the investors which may keep thrusting KAS price towards the record highs. The weighted sentiment curve is an on-chain metric that reveals the current biasness of the investors whether it is on the bullish or bearish side.
As per Santiment, an on-chain analytics provider, the social metrics curve was headed upwards reaching a three-month high. The social metrics include recent news, updates, and events as well as the activity of the users over various social media platforms like Twitter, Telegram, etc.
As per the observation, the social metrics curve was headed higher indicating the increasing engagement of the users over social media platforms which is essential for the growth of assets.
Can Kaspa Reclaim All-Time High In September?
Over the daily chart, Kaspa took a rebound from the demand zone and is continuously edging higher neglecting any resistance on its way. Since the past week, the crypto has surged higher surpassing the 20 and 50-day EMAs and recent supply of $0.17.
The strong comeback by the Bulls has flipped $0.17 resistance into support. The KAS price is now left with only one hurdle of an all-time high on the higher side which is 13% away from the CMP.
Also, the price has gained a straight 21% without noticing any pullback which means a consolidation or correction is pending in the crypto. However, the bulls are strong at the moment and might keep fueling the KAS price toward record highs.
A short pullback till the recent support of $0.171 could invite more investors to ride the trend who have missed the previous bull run. The transaction volume showcases a daily growth of 21.06% to $53.98 Million indicating a heightened demand in the crypto.
At the time of writing, Both the RSI and 14-day SMA line were placed in the bullish territory and were headed higher indicating a trend continuation at the moment.
