Kapsa (KAS) stock is down 11.80% in the last 7 days.

Kapsa (KAS) stock is down 11.80% in the last 7 days.
  • KAS stock is down 11.80% in the last 7 days.
  • Despite the decline, the trend is still up.

On June 30, KAS reported a 20% surge days later as reported by AMBCrypto. However, a week later, KASPA stock fell by 11.80% causing panic among long-term KASPA holders.

Despite this decline, the market remains bullish with positive market sentiment. Therefore, many analysts are expecting a rise in the market cap. KAS’s 30-day market cap has risen, outperforming PEPE and ICP.

Cryptographer @ Suki He shared his predictions on X (formerly Twitter), noting that,

“It’s not about being a moon boy as $KAS can reach $100B + MC. In 2017, XRP’s bull run reached $130B when there was much less money in the market. In the last bull run, BNB went from $3B to $108B. No other cryptocurrency outperforms Kaspa’s fundamentals.

Based on historical data, KAS is positioned to experience massive market cap growth. Overall, the market cap growth suggests that KAS price and user activity will continue to rise in the foreseeable future.

Market sentiment

Source: Market Earnings

According to market earnings, KASPA consistently enjoys positive market sentiment.

In fact, the public sentiment is 0.06 with a Z-score of 0.35, while the overall market sentiment is 0.07. The positive market sentiment shows that users and investors are optimistic about KASPA’s future potential.

What the KAS price charts indicate

As of this writing, KAS’s Aroon line is showing a strong uptrend. Specifically, the Aroon-up at 50 is above the Aroon-down at 7.

When the Aroon line is set like this, it shows that the uptrend is strong and in a position to continue. Likewise, it shows that prices are within market value.

Source: Trading View

The directional movement indicator also supports this. At the time of publication, the positive indicator at 22 (blue) was above the negative indicator (red) at 21.

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This setup indicates that KASPA is in a good position, and that continued positive market sentiment is putting it on an additional uptrend.

Source: Trading View

Looking at OI’s weighted funding rate, AMBCrypto’s analysis suggests that it has been largely positive over the past seven days.

Positive weighted funding ratios indicate that demand for long positions is higher than for short positions. Therefore, traders are paying a premium to hold their positions, which is a bullish sentiment.

Source: Queenglass

Can KAS maintain its uptrend?

Kaspa analysis by AMBCrypto indicates that the price action is still largely in an uptrend. After reaching an all-time high of $0.194, KAS saw a short-term price drop while the trend remained unchanged.

At press time, KAS is trading at $0.1688 after gaining 1.64% in 24 hours. Having previously hit the $0.194 resistance level, a breakout from the area would see the price surge to a new all-time high of $0.23.

Therefore, if the losses continue on the weekly charts, the price will drop to the $0.15 support level.

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