KAS PRICE ANALYSIS & PREDICTION (March 10) – Kas Volatility Low as it Broke Monthly Support, Incoming Collapse?
Kas advanced bearish this week as the price continued to break down after initiating drops in the preceding week. However, it looks a bit stuck today due to a serious shrink in volatility.
Last week came with a notable selling pressure, but the bears were unable to sustain the pressure as the $0.076 level continued to provide support. After remaining indecisive for a day, the price increased suddenly, and that brought a small relief.
It later faced rejection and advanced bearishly with a break below this support level in the mid-week. While this break is considered brief, the selling pressure has seriously slowed down ever since. This brought an extreme volatility shrinks with choppy price actions.
Meanwhile, this looks like a build-up for another major loss. An increase in the supply level should trigger a big collapse shortly. Such a scenario should give the bears more dominance in the mid-term. But as it stands, the supply looks low.
Looking at the market so far, Kas’s trend still maintains a lower low and lower high pattern on the daily chart. This pattern hinted at a bearish continuation move in the short term. In the opposite direction, it must reverse this pattern before we can consider a bullish move. But right now, the bulls are showing low signs of commitment on the daily chart.
KAS’s Key Level To Watch
Source: Tradingview
While the market appears volatile this week, the immediate support level for selling is 0.0615$. After that, we can consider $0.054 and $0.05 in the next few weeks.
Buying activity appears low at the moment. If by chance the buyers show up strong, they must reclaim the lost $0.076 support as resistance. Higher levels for a test are $0.095 and $0.1143 in case of an increase.
Key Resistance Levels: $0.076, $0.095, $0.1143
Key Support Levels: $0.0615, $0.054, $0.05
- Spot Price: $0.071
- Trend: Bearish
- Volatility: High
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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