According to noted cryptocurrency analyst CryptOG (@realhus2), the price of Kaspa (KAS) is hovering right around a critical support level that could determine its next major move. In a recent post, CryptOG shared a chart showing KAS testing support around the $0.16 level after a period of retracement from its local highs.

As CryptOG explained, “I’m watching closely for the KAS candle close to see if it holds above this key support line or if we may see a bearish continuation downward toward the next major support zone.” He sees the $0.16 level as an important line in the sand for KAS bulls. A daily close below this support risks opening the doors for a more significant decline.

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On the other hand, if KAS can maintain its ground above $0.16, CryptOG expects to see the token reclaim the $0.17 level shortly thereafter, before embarking on its next leg up. He pointed out that he recently began building a position around the $0.158-0.161 zone in anticipation of this retracement and support test.

So in short, CryptOG and likely many other KAS investors are on close watch this week to see if the token can hold above its critical support just above $0.16. How this level holds could set the tone for the next major trend in KAS price action.

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The post Kaspa Hangs in the Balance at Crucial Support, Can KAS Bulls Break This Barrier to Resume Uptrend? appeared first on CaptainAltcoin.