Kaspa (KAS) is poised for a massive price surge, according to top cryptocurrency analyst ParabolicPump. He highlights that the current chart patterns for KAS mirror those observed before previous uptrends, suggesting a substantial bullish movement is imminent.
Analyzing the Weekly Chart Patterns
ParabolicPump emphasizes the importance of examining KAS’s weekly chart to identify bullish signals. Historically, KAS found its bottom when the Relative Strength Index (RSI) was between 50-58. Following this, the cryptocurrency consistently experienced upward momentum.
Every notable uptrend for KAS also involved a breakout from a diagonal line, confirming the bullish movement. Furthermore, each uptrend was accompanied by a bullish engulfing candle on the weekly timeframe, occurring either just before or after the diagonal line breakout.
Current Bullish Setup
Currently, KAS displays the same bullish setup. The RSI is at the most oversold levels ever seen on the weekly chart, indicating a potential for price movement. According to the analyst, many investors may miss out on this opportunity and FOMO into KAS at higher prices. He asserts that the bottom likely settled at $0.10, making it an ideal time for accumulation now.
ParabolicPump has previously identified KAS bottoms and remains confident in his current prediction. He suggests that KAS could see a 10-20x price increase, and potentially even more, from its current levels. The prolonged sideways movement in recent months further supports the likelihood of an upcoming rally.
Additionally, breaking above the white diagonal trendline would provide further confirmation that the bottom is in place. This breakout would likely lead to substantial rewards for KAS holders in the coming months.
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Market Sentiment and Expert Opinions
Despite some investors expressing doubts due to KAS’s recent stagnation, ParabolicPump urges them to remain patient. He stresses that the perfect bullish setup is in place, and selling now would be a costly mistake. The only prudent strategies at this point are to buy or hold KAS.
As previously reported by Captain Altcoin, another cryptocurrency analyst, Chris from Crypto Chrys YouTube channel, believes that KAS has the potential to reach a $100 billion market capitalization. This would place it among the most valuable cryptocurrencies, further validating ParabolicPump’s bullish outlook.
Hence, the current chart patterns for KAS strongly resemble those seen before previous uptrends. Historical bullish signals and expert predictions align, advising KAS holders to prepare for a potentially lucrative period. Time is running out to accumulate KAS at these low levels, and the next parabolic pump appears to be just around the corner.
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The post Kaspa Price Action Mirrors Past Bullish Cycles: Expert Predicts Imminent 10-20X KAS Surge – Here’s His Outlook appeared first on CaptainAltcoin.
