Bitcoin Unable To Stage A Recovery Decisively, Ethereum Consolidates Below $3K

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: May 12 2024

KAS+8.110001%

ETH+0.078%

BTC+1.783%

Should l Buy KAS?

Crypto Market Update:
- Bitcoin and major coins are consolidating without a swift recovery.
- Bitcoin's price is around $61K, while Ethereum is below $3K.
- The market calmed after a sudden correction due to a statement from the US Federal Reserve.
- Altcoins are consolidating but still below recent highs.
- Best performers include Immutable (IMX) and Ribbon Finance (RBN), while worst performers are Zebec Protocol (ZBC) and Kaspa (KAS).

Get Real-Time Alerts for Any Crypto Movement

Monitor assets like KAS with instant alerts on price breakouts and whale movements. Don't let a 24/7 market leave you behind.

Technical Analysis for KAS

Technical Sentiment Analysis for Kaspa (KAS) As of , Kaspa (KAS) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for KAS stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.

Support, Resistance & Moving Averages From a structural perspective, KAS is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Kaspa (KAS) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.0116	0.0183	0.0253	0.032	0.0389	0.0457	0.0526
Fibonacci	0.0183	0.0235	0.0268	0.032	0.0372	0.0404	0.0457

About KAS

Kaspa is a proof-of-work (PoW) cryptocurrency which implements the GHOSTDAG protocol. Unlike traditional blockchains, GHOSTDAG does not orphan blocks created in parallel, rather allows them to coexist and orders them in consensus. The Kaspa blockchain is actually a blockDAG. This generalization of Nakamoto consensus allows for secure operation while maintaining very high block rates (currently one block per second, aiming for 10/sec, dreaming of 100/sec) and minuscule confirmation times dominated by internet latency.The Kaspa implementation includes a lot of cool features such as Reachability to query the DAG's topology, Block data pruning (with near-future plans for block header pruning), SPV proofs, and later subnetwork support which will make future implementation of layer 2 solutions much easier.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

GET FREE REAL TIME NOTIFICATIONS

Stock Monitor for KAS?

Get Started Free

FREE STOCK RECOMMENDATIONS DAILY

Stock Bullish Tomorrow

Get Started Free

70% BACKTESTED ACCURACY!

Should I Buy KAS?

Get Started Free