Kaspa's price has been consolidating between 10 and 12 cents for the past 29 days. This period of low volatility has created a congestion zone that is expected to provide strong support for Kaspa's price. Additionally, the low volatility period has caused a squeeze that will likely drive prices to surge upwards. While BB width and squeeze are not reliable indicators of direction, the overall trend is bullish, and the probability is that the breakout will be to the upside.
Over the last 11 days, there has been a subtle shift towards a possible breakout. Although KAS is still within the congestion zone, it has been creating higher lows and forming an Ascending Triangle pattern. The target for this Triangle is a 20% upside from the breakout, which will bring KAS close to its all-time high.
Trade Idea:
Entry: 0.12
SL: 0.11
Target: 0.15
TP: 0.143
R: R: 1: 2.5
Over the last 11 days, there has been a subtle shift towards a possible breakout. Although KAS is still within the congestion zone, it has been creating higher lows and forming an Ascending Triangle pattern. The target for this Triangle is a 20% upside from the breakout, which will bring KAS close to its all-time high.
Trade Idea:
Entry: 0.12
SL: 0.11
Target: 0.15
TP: 0.143
R: R: 1: 2.5
