How Kaspa’s Hashrate Can Position KAS As a Top10 Crypto This Bull Cycle
Release: 2024/09/07 04:04 Reading: 600
Kaspa's Hashrate Signals Potential Market Surge
Kaspa (KAS) has captured analysts' attention due to its impressive hashrate growth and its potential implications for its price trajectory. Notably, the coin's hashrate has exhibited a strong correlation with its price performance.
Hashrate-Price Correlation
Crypt0Proselyte's analysis highlights the significance of Kaspa's exponential hashrate increase, which aligns with an R^2 value of 0.9508. This indicates a robust correlation between the two metrics.
The analysis predicts that Kaspa's hashrate could soon surpass 1 exahash per second (EH/s), with long-term aspirations to reach 100 EH/s. This expansion aligns with Kaspa's goal of establishing itself among the top 10 cryptocurrencies in the current bull cycle.
Technical Analysis and Price Outlook
Kaspa's daily chart presents a cautious outlook, with the price trading close to the lower Bollinger Band. However, oversold conditions may suggest the potential for a price reversal. Resistance levels are situated between $0.16 and $0.17, while support rests around $0.14.
Despite ongoing selling pressure, the MACD shows signs of decreasing bearish momentum. Additionally, the RSI approaches oversold levels, indicating the possibility of a price recovery.
Market Position and Potential Growth
Kaspa's rising hashrate and technical indicators paint a mixed but potentially bullish picture. A breakout above key resistance points and sustained support above $0.14 could trigger a short-term rally. Furthermore, the approaching oversold conditions in the RSI suggest a potential waning of selling pressure.
With continued hashrate growth and network expansion ambitions, Kaspa's market position is projected to strengthen as it aims to break into the top 10 cryptocurrencies in the near future.
Recent news
More>- PEPE Now Available for New York Users to Trade on Coinbase 11-28
- Tether Discontinues Support for EURT Stablecoin: Here’s Why 11-28
- Best Trending Meme Coins in December 2024: 6.5 Billion Coins Sold in BTFD Coin’s Ongoing Presale, Pepe Coin and Ponke on the Rise 11-28
- As Top Cryptos Recover After Recent Dip, New Meme Coin Pepe Unchained’s Unstoppable Presale Powers Ahead — Only 16 Days Left 11-28
- As Top Cryptos Recover After Recent Dip, New Meme Coin Pepe Unchained’s Unstoppable Presale Powers Ahead — Only 16 Days Left 11-28
- As Top Cryptos Recover After Recent Dip, New Meme Coin Pepe Unchained’s Unstoppable Presale Powers Ahead — Only 16 Days Left 11-28
- Missed PEPE? Don’t Miss Out on This New Token That’s Breaking Records at Lightning Speed 11-28
- CHILLGUY meme coin could be at risk as smart money sells 11-28
- Top Trending Meme Coins to Buy in 2025: BTFD Coin Presale Raises Over $150,000 in Less Than 24 Hours Since Going Live, Dogecoin and Dogs Gro... 11-28
Selected Topics
More>>-
- pepecoin Price Analysis
- This topic provides articles related to PepeCoin price, covering key PepeCoin insights and analysis
-
- pepe:meme star
- This topic provides articles related to the most promising meme, PEPECOIN, a project with the potential to become a mainstream digital currency. It has the advantages of decentralization, reliability, ease of use, fast speed, low cost and scalability, and is expected to be more widely used in the future
-
- pepecoin price prediction
- We’ve gathered facts about pepecoin’s success story and provided a pepecoin price prediction
Selected Articles
More>>- 1 Avalanche and Aptos rival raises over $600k in 2 weeks
- 2 Crypto Prices Today: Market Continues Rally With BTC, Pepe Coin, SEI Rising
- 3 Major Analyst Crypto Tony Bullish on These Meme Coins, But One Stands Out
- 4 MTAUR Ready to Crush DOGE and PEPE: 100x Price Growth Incoming?
- 5 Memecoins Surge in 2024, Popcat Leads with 7,621% YTD Gain, Outshining Top Crypto Tokens
- 6 PEPE Meme Coin Smashes ATH – See How Much an $83 Investment in Pepe Coin Last Year is Worth Now
- 7 Top 4 Altcoins At 70% Discounts – Last Chance!
- 8 Dogecoin Creator Proposes DOGE to NBA Legend Scottie Pippen
- 9 Top Analyst Who Predicted Dogecoin (DOGE) Last 170x Rally Forecasts New Parabolic Rise, Here’s His Price Target
- 10 New Solana Memecoin Trump Loves Elon to Rally 15,000% Before Exchange Listing, SHIB and Bonk Crash
ABOUT US
We are building the most influential，trusted information platform for aglobal community engaged in thd transformation of the financial system andthe emerging crypto economy.PEPE is an integrated platform for media,events,data & indices for the next generation fo investing and the future of money.
Get in touch with the PEPE team at admin@pepecoinbuy.com