Crypto Market Rallies: KAS, FET, and IMX Surge Ahead of FOMC Meeting – What to Expect

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Sep 17 2024

KAS+8.8%

IMX-3.066%

Should l Buy KAS?

Bitcoin Surge: Bitcoin has jumped +5.69%, nearing the $61,000 mark, with altcoins like Kaspa, Fetch AI, and Immutable also seeing significant gains, driven by anticipation of a potential interest rate cut from the Federal Reserve.
Market Outlook: While the long-term outlook appears bullish due to increased liquidity from lower interest rates, analysts caution about possible short-term volatility as investors may sell to lock in profits following the FOMC meeting.

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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.

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