Kaspa Cycle Outlook
Diupdate
In the not-so-distant future, we anticipate a retracement in Kaspa's price. Currently, we observe an upside potential of 10% to 15.5c, contrasted with a downside risk ranging between 4.2c to 6.4c. Notably, we have yet to retest the previous all-time high (ATH) at 5.4c, making it a significant target to keep an eye on.
On the daily chart, the RSI peaked at over 90 when the price touched 9.9c. However, with the price now at 14.2c, the RSI has only dropped to 87, signaling bearish divergence on the daily timeframe. Similarly, the weekly RSI stands at 87, suggesting that we may be closer to a market top than currently perceived. This RSI momentum decline is also evident on the 4-hour timeframe, reinforcing the likelihood of an impending shift in market sentiment.
Depending on the pace of this decline, we project the 200-day exponential moving average to reach approximately the 5.4c level by mid-December. If the decline takes longer, we could anticipate it around 6.4c in late January.
Our trendline support is indicated by the blue line, with potential target levels marked as small green boxes, specifically at 5.4c and 6.4c. Traders should monitor these levels closely as they could play a crucial role in future price movements.
On the daily chart, the RSI peaked at over 90 when the price touched 9.9c. However, with the price now at 14.2c, the RSI has only dropped to 87, signaling bearish divergence on the daily timeframe. Similarly, the weekly RSI stands at 87, suggesting that we may be closer to a market top than currently perceived. This RSI momentum decline is also evident on the 4-hour timeframe, reinforcing the likelihood of an impending shift in market sentiment.
Depending on the pace of this decline, we project the 200-day exponential moving average to reach approximately the 5.4c level by mid-December. If the decline takes longer, we could anticipate it around 6.4c in late January.
Our trendline support is indicated by the blue line, with potential target levels marked as small green boxes, specifically at 5.4c and 6.4c. Traders should monitor these levels closely as they could play a crucial role in future price movements.
Catatan
-58% should be 75 Days and not 175 DaysCatatan
Looks like we will go for the -58% in 75 days as planed, so 6.4c is the target now, 5.4c is no longer a target. Expecting the bottom to come in at the last week of January or the first week of February. This is goodCatatan
The buyZone is from 6.4c to 8.3c
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