Kaspa Bear-Market Is Over: Time To TradeHere is a pair that we looked at many, many times last year, all of these times on the SHORT side and many of these looking were successful. I met a lot of people through this pair, we did a lot of trading and we did great. Things change.
I no longer see any bearish potential on this chart.
Kaspa (KASUSDT) grew an incredible ~1600% between 2023 and 2024, and the correction/consolidation phase was weak/strong. Weak in the sense that Kaspa remained pretty strong. Strong in the sense that prices remained pretty high compared to the starting point. In short, this is a strong project based on the chart. You will have to consider the fundamentals for yourself as in this channel we concern ourselves only with technical analysis.
So things change and Kaspa hit its lowest price last week since November 2023.
The weekly close happened right above the 0.618 Fib. retracement level for the entire bullish cycle on this chart. It wicked below but it closed above. Why is this important as in an important signal? Because the bullish cycle lasted 434 days. Such a strong cycle. Having a strong correction and this dynamic showing up can mean that the correction reached its end. But this is not without risk.
0.618 Fib. sits at 0.08727. We are using the weekly timeframe.
The last major low sits at 0.07600. We can say that as long as KASUSDT trades above this level, we have bullish potential and this pair, together with the rest of the market, can grow. If the action moves below, we are not right or wrong, the bullish potential becomes invalidated and the charts dynamics change. It has bullish potential but it is early. The potential is based on the fact that the market is starting to change but it is still early. We are going up long-term regardless of the short-term.
Let's sum it all up:
Short-term, we are aiming higher but there can be some shakeouts based on the chart.
Mid-term and long-term, we are going up.
Do you agree?
Yes! Follow me.
Thanks a lot for your continued support.
Namaste.
