Kaspa price is finally pressing against a level that could decide its next major move. After consolidating around the $0.02575 support since early February, KAS is now trading at $0.02894 and has flipped the 50-day EMA. Sounds bullish, but there’s a catch: price is sitting close to the upper edge of a long-standing falling wedge.
Kaspa Price Faces A High-Risk Resistance Zone
Kaspa is a proof-of-work asset, and on August 27 it highlighted its approach to real-time decentralization, arguing that the security embodied by Bitcoin’s proof-of-work can be achieved in real time. It also stated that transactions taking roughly an hour to confirm safely on Bitcoin can confirm within seconds on Kaspa.
The network narrative is one thing. The chart is another. Despite the broader recovery, KAS/USD has not actually broken out yet. Since February, the token has mostly moved sideways around its lower support rather than producing a decisive rally, eventually drifting towards the wedge’s upper boundary.
A Breakout Could Put Higher Targets Back
This is where the setup gets interesting. If Kaspa price flips the upper edge of the falling wedge, the first major hurdle sits at the 200-day EMA around $0.03378. A successful move above that level could open the path toward $0.06280 and then $0.07469.
That’s a meaningful distance from the current $0.02894 level, but it remains conditional on actual follow-through. A breakout that can’t hold isn’t much of a breakout.
Failure Could Send KAS Toward New Lows
The bearish scenario is considerably uglier. If sellers defend the upper wedge boundary and KAS token price loses the $0.02575 support, the token could slide toward $0.01038 and potentially establish a new all-time low.
So, Kaspa price is sitting at a genuine decision point. Holding $0.02575 keeps the bullish breakout case alive, while reclaiming the wedge’s upper edge would strengthen the path toward $0.03378, $0.06280 and $0.07469. Lose support, though, and the entire setup changes quickly.
Was this writing helpful?
Story Ends Here
Trust with CoinPedia:
Investment Disclaimer:
All opinions and insights shared represent the author’s own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored and Advertisements:
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Read the Next News
