Connect with us

Market

Kaspa (KAS) Price Eyes All-Time High: Key On-Chain Metrics

Published

on


In a previous analysis, BeInCrypto published a bullish forecast for Kaspa (KAS) when the price was trading at $0.14.

Subsequently, it reached a new all-time high of $0.194. Now trading between $0.16 and $0.17, this analysis serves as an update to the previous price prediction.

Kaspa Price Analysis: Bullish Outlook

KAS has experienced a 14% drawdown following Bitcoin’s price correction from $70,000 to $66,000. This moderate decline saw KAS falling from $0.194 to $0.150 before stabilizing between $0.160 and $0.170.

The price has broken below the key support level of $0.171, which is now a critical resistance level to monitor closely. KAS has tested the baseline support (in red) at $0.151 and $0.155, reinforcing this line as a strong support level.

Kaspa Price Analysis. Source: TradingView
Kaspa Price Analysis. Source: TradingView

Despite the recent decline, the price outlook for KAS is not bearish. The price remains above the red baseline of the daily Ichimoku Cloud.

Read More: How To Buy KASPA And Everything You Need to Know

The Ichimoku Cloud is a technical analysis tool that displays support and resistance levels, trend direction, and momentum. It consists of multiple lines. The baseline represents the midpoint of the 26-day high and low prices. It is used to determine trend direction and potential support or resistance levels. All the support levels in the analysis are determined by the baseline.

The daily RSI (in violet) is around 60, which indicates the potential for a price drop if it starts to trend towards 50 or 40, underscoring a bearish trend.

An RSI below its 14-day average, shown in pink, could indicate potential for price appreciation. This could happen if KAS breaks above the $0.171 resistance level, potentially reaching new all-time highs.

Short-Term Holders HODLing: $0.20 Target Within Reach

This indicator segments the total circulating supply of Kaspa based on detention time, tracking the behavior of both short-term and long-term holders.

Analyzing the percentage of supply that has remained inactive for more than 3 months is crucial for understanding holding patterns and market sentiment among different holder groups.

The inactive supply metric for more than three months serves as a barometer for short-term holders’ market sentiment when compared to the inactive supply (%) that has been held for more than one year or two years.

A drop in this metric could signal increased risk, while a rise indicates growing demand from new investors.

Inactive Supply (%) for more than 3 months. Source: Kaspalytics
Inactive Supply (%) for more than 3 months. Source: Kaspalytics

From May to the present, KAS Supply, which has been inactive for more than three months, has increased from 57.18% to 64.43% of the total circulating supply, signifying strong holding behavior from short-term holders.

This strengthens our bullish forecast for Kaspa. We anticipate the price breaking the all-time high and reaching the $0.20 – $0.30 range.

Analyzing the supply that has not been spent for more than one year and more than two years can provide a deeper understanding of Kaspa’s long-term holders’ behavior, especially in the context of recent price declines.

Inactive Supply (%) for more than 1 year. Source: Kaspalytics
Inactive Supply (%) for more than 1 year. Source: Kaspalytics

A slight drop from 21.5% to 21.2% of the total circulating supply. This minor decrease suggests some mid-term holders engage in profit-taking or risk management, but the overall holding pattern remains relatively stable.

KAS Price Prediction: $0.20 or $0.14 Next?

In addition to this, a similar slight drop was observed in the amount of Kaspa that had not been moved for more than two years, indicating profit-taking and risk-mitigation strategies by holders. Specifically, the supply held for over two years decreased from 5% to 4.8% of the total circulating supply, reflecting some level of selling activity among long-term holders.

Read More: Where To Buy Kaspa (KAS): 3 Best Platforms for 2024

Inactive Supply (%) for more than 2 years. Source: Kaspalytics
Inactive Supply (%) for more than 2 years. Source: Kaspalytics

The price of KAS has declined following the overall crypto market correction since June 7. Still, it remains resilient above the key support level, which is the Ichimoku baseline.

Should it sustain a break below this line, it could potentially reverse from a bullish to a bearish trend. In such a case, key support levels would be $0.143, $0.124.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



Source link

Market

Ethereum Price Clings to Support—Upside Break Could Trigger Rally

Published

on


Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Created by industry experts and meticulously reviewed

The highest standards in reporting and publishing

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.


Este artículo también está disponible en español.

Ethereum price started a increase from the $1,550 zone. ETH is now rising and might attempt to recover above the $1,650 resistance.

  • Ethereum started a fresh increase above the $1,580 and $1,600 levels.
  • The price is trading above $1,600 and the 100-hourly Simple Moving Average.
  • There was a break above a connecting bearish trend line with resistance at $1,590 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could start a fresh increase if it clears the $1,650 resistance zone.

Ethereum Price Eyes Upside Break

Ethereum price remained stable above the $1,500 level and started a fresh increase, like Bitcoin. ETH traded above the $1,550 and $1,600 levels to enter a short-term positive zone.

There was a break above a connecting bearish trend line with resistance at $1,590 on the hourly chart of ETH/USD. The pair even cleared the $1,620 resistance. A high was formed at $1,644 and the price is stable above the 23.6% Fib retracement level of the upward move from the $1,566 swing low to the $1,644 high.

Ethereum price is now trading above $1,600 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $1,640 level. The next key resistance is near the $1,650 level. The first major resistance is near the $1,680 level.

Ethereum Price
Source: ETHUSD on TradingView.com

A clear move above the $1,680 resistance might send the price toward the $1,720 resistance. An upside break above the $1,720 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $1,800 resistance zone or even $1,840 in the near term.

Downside Correction In ETH?

If Ethereum fails to clear the $1,650 resistance, it could start a downside correction. Initial support on the downside is near the $1,620 level. The first major support sits near the $1,605 zone and the 50% Fib retracement level of the upward move from the $1,566 swing low to the $1,644 high.

A clear move below the $1,605 support might push the price toward the $1,580 support. Any more losses might send the price toward the $1,550 support level in the near term. The next key support sits at $1,500.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is gaining momentum in the bullish zone.

Hourly RSIThe RSI for ETH/USD is now above the 50 zone.

Major Support Level – $1,600

Major Resistance Level – $1,650



Source link

Continue Reading

Market

Will Bittensor Surpass Bitcoin as a Store of Value? Expert Predicts

Published

on


Barry Silbert, CEO of Digital Currency Group, has stated that Bittensor (TAO) has the potential to outperform Bitcoin (BTC) as a global store of value.

His comments come amid notable growth in the Bittensor network, with its subnet ecosystem market capitalization and the TAO token’s price on the rise.

Will Bittensor’s Decentralized AI Model Outperform Bitcoin’s Legacy? 

In a recent interview with Raoul Pal, Silbert highlighted the growing influence of artificial intelligence (AI) in the crypto sector. According to him, Bittensor is at the forefront of this revolution, representing the “next big era for crypto.”

“You had the Bitcoin and the Ethereum and the NFTs, and you had the layer 2s and DeFi. I think this is the next big investment theme for crypto,” Silbert stated.

He went on to explain that Bittensor shares the same pioneering spirit as early Bitcoin. Still, its purpose extends beyond financial sovereignty.

“The boldest prediction that I could make for Bittensor is it could be a better version of Bitcoin as a global store of value,” he claimed.

He argued that instead of the $10 to $12 billion spent annually to secure the Bitcoin network, that same amount could be redirected toward incentivizing a global network of individuals working to solve major world problems. He envisions this money fostering innovation on a massive scale, with the potential to grow into a multi-billion-dollar ecosystem. 

While acknowledging the value of securing the Bitcoin network, Silbert emphasized that Bittensor’s potential lies in its ability to harness this vast financial backing to address real-world challenges

He noted that Bittensor operates on a similar economic model to Bitcoin, with halving mechanisms and decentralization, positioning it as a powerful contender in the quest for a more impactful and value-driven global network.

Silbert also noted that while plenty of decentralized AI projects have emerged, Bittensor has set itself apart. He referred to it as having reached “escape velocity.” This term is used to convey a project’s rapid growth and increasing market influence.

“99.9% of crypto tokens that are out there have no reason to exist and are worthless,” he added.

Market data reflects the growing enthusiasm for Bittensor. Notably, amid the ongoing volatility, TAO has fared well in comparison to the broader market, rising 32.1% in the last week. At press time, the altcoin was trading at $328, up 7.2% over the past day.

TAO Price Performance
TAO Price Performance. Source: BeInCrypto

Additionally, TAO is currently the top trending cryptocurrency on CoinGecko, underlining its rising popularity among investors. Google Trends data further proves the growing interest in Bittensor. The search volume peaked at 100 at the time of writing. 

Meanwhile, the Bittensor ecosystem is also seeing notable progress. The latest data indicated that the market capitalization of Bittensor’s subnet tokens more than doubled in April 2025. 

Bittensor Subnet Market Cap
Bittensor Subnet Market Cap. Source: Backprop Finance

It increased by 166%, rising from $181 million at the beginning of April to $481 million at press time. As reported by BeInCrypto, this growth follows a tripling of active subnets over the past year. 

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



Source link

Continue Reading

Market

XRP Bulls Defend $2.00—Is a Fresh Price Surge Loading?

Published

on


Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he’s trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush’s journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he’s poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush’s unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.



Source link

Continue Reading

Trending

Copyright © 2024 coin2049.io