- \n
- KAS surged by 20.7% in the last seven days.<\/em><\/li>\n
- All indicators showed a strong uptrend momentum for Kaspa.<\/em><\/li>\n<\/ul>\n
In the last month, altcoins have experienced a sharp decline, with Bitcoin [BTC]<\/a> prices plummeting to $60k. Despite the market volatility, Kaspa [KAS]<\/a> has defied market trends and reported a sustained surge.<\/p>\n
The recent rally has pushed KAS to an ATH after a 20.77% surge in seven days.<\/p>\n
At press time, KAS traded at $0.1896, a 6.4% rise in 24 hrs. At the same time, KASPA has reported a 45.95% rise in trading volume to $129M.<\/p>\n
According to CoinMarketCap<\/a>, the KAS market cap has surged 6.4% to $4.5B, surpassing ICP and PEPE.<\/p>\n
This sustained surge has left everyone with crypto analysts speculating further growth. Renowned analysts Crypto Proselyte<\/a> is one of those big-betting companies on KAS.<\/p>\n
In a post shared on X (formally Twitter), he stated that,<\/p>\n
\n
\u201cCan #Kaspa go #100x from the current price? The short answer is Yes.\u201d<\/p>\n<\/blockquote>\n
He further explained that,<\/p>\n
\n
\u201cAccording to the power law support corridor, which hasn\u2019t been broken since genesis, $KAS will reach $18 (100x from now) in June 2029, just in 5 years.\u201d<\/p>\n<\/blockquote>\n
Various factors are driving this speculation and positive market sentiment. For a starter, according to Mr Kaspa, KCA20 will be launched. In a post shared on X, Mr Kaspa<\/a> stated that,<\/p>\n
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\u201cToday is the day! #KRC20.\u201d<\/p>\n<\/blockquote>\n
Another factor driving the market is Marathon, the largest crypto-mining company, entering Kaspa mining. According to official reports, Mara has mined 93 million KAS, valued at $16M.<\/p>\n
These two developments are keeping everyone excited and optimistic about Kaspa\u2019s future.<\/p>\n
What do price charts indicate?<\/h2>\n
![\"\"](\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/kasdmi.png\")
<\/a><\/p>\nSource: TradingView<\/p>\n<\/div>\n
AMBCrypto\u2019s analysis indicated that KAS was enjoying a strong upward momentum, and the KAS Directional Movement Index (DMI) proved this.<\/p>\n
At press time, the positive index at 31 was above the negative index at 24. This showed a strong buying pressure and a well-sustained uptrend.<\/p>\n
![\"\"](\"image\/svg+xml,%3Csvg%20xmlns=\")
![\"\"](\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/kasawe.png\")
<\/a><\/p>\nSource: TradingView<\/p>\n<\/div>\n
Also, AO (Awesome Oscillator) measures prevailing market momentum at 0.021. When AO is above zero, short-term momentum is stronger than long-term momentum, a bullish signal.<\/p>\n
![\"\"](\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/kaslii.png\")
<\/a><\/p>\nSource: Coinglass<\/p>\n<\/div>\n
Looking further, our analysis of Coinglass shows KAS market sentiment is highly positive, with a sustained upward momentum. Coinglass data showed liquidation for short positions is higher than for long positions.<\/p>\n
This showed that investors were betting against the market are out of money, while long positions are in the money and continue to hold their positions.<\/p>\n
- All indicators showed a strong uptrend momentum for Kaspa.<\/em><\/li>\n<\/ul>\n
![\"\"](\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/kasoooo.png\")