Main to remember
Kas has recorded a significant race, but a key resistance zone now makes a major obstacle, with signs of punctual sales pressure that are still present. The volume of trading remains high and the optimistic momentum continues to build, suggesting a strong interest of buyers even at current resistance levels.
Kaspa (KAS) jumped 13% in the last 24 hours at the time of the press, extending a trend to regular gains that have resulted in a price increase of 72% in the last four weeks.
However, this bullish momentum can be wedged despite an increase in volume and aggressive purchases, because the action of prices tests an area of resistance historically downward.
Catalyst in the game at stake while Kas hits the supply area
The analysis of the graphics reveals that KAS has entered a critical resistance zone, also identified as a supply area.
This area is between $ 0.114 and $ 0.127 and has historically sparked solid price refusals.
For example, in February, when Kas briefly exchanged in this area, this led to a major drop which marked the lowest price of the medal of the year.
Source: tradingView
A similar drop followed in May, when Kas again touched this region and then plunged to $ 0.6 beach.
At the time of the press, Kas had tested this resistance zone and faces a minor rejection, while the candlestier became red. Although it is not yet confirmation of a sale, it reflects a significant sales pressure at this level.
Buyers can still have the upper hand
Despite the resistance, the indicators suggest that sellers could lose as the purchase activity increases.
Key measurements such as accumulation / distribution (A / D) and bull bear power (BBP) indicate an increasing bullish force.
The A / D line reflects a strong accumulation, signaling more purchase than selling in recent sessions. In particular, the volume of accumulation has reached 10.18 billion ka in the last 24 hours, upward trend and suggesting a potential for subsequent growth.
Source: tradingView
Likewise, the BBP has reached its highest point in two weeks, a sign that the bulls are starting to dominate the market with more interest.
This trend suggests that although KAS is negotiated in a known supply area, the bulls intervene aggressively. However, it remains uncertain if the asset will burst above this level.
Spot merchants resume the purchase of kas
Over the past four days, even though Kas joined, the spot traders had always sold the token through centralized exchanges.
According to Coinglass data, the cumulative sales of these traders totaled $ 1.48 million, reflecting the lowering feeling despite the rally.
Source: Coringlass
Interestingly, the sale pressure has slowed down. During the last 24 hours, the total sales to the point amounted to only $ 47,000, indicating a renewal of purchasing interest.
Although this suggests that bulls start to accumulate on the cash market, the trend is not entirely optimistic. The bears could still come back, apply downward pressure and trigger a draw for Kas.
