Kaspa (KAS) Surges After Listing Announcement – Is a Recovery Ahead?
Date: Thu, February 13, 2025 | 06:04 PM GMT
In today’s crypto market, major altcoins are showing signs of recovery, with Kaspa (KAS) standing out. After experiencing a 22% correction over the past 30 days, KAS has rebounded with an 8% surge. The latest exchange listing announcement has further pushed the price up by over 3% in the last hour.
Source: Coinmarketcap
Listing Announcement
The surge comes after Coinbase announced the listing of Kaspa (KAS) and Spx6900 perpetual futures on Coinbase International Exchange and Coinbase Advanced. Trading for KAS-PERP and SPX-PERP will commence on or after 9:30 AM UTC, February 20, 2025.
Source: @CoinbaseIntExch (X)
Is a Recovery Ahead?
Kaspa has been consolidating within a descending broadening wedge pattern after facing rejection at $0.19 on December 8, 2024. Since then, the token has been trading inside this formation. However, a bullish bounce from the lower support of the wedge on February 2 at $0.11 has triggered a strong rebound.
Kaspa (KAS) Daily Chart/Coinsprobe (Source: Tradingview)
Currently, KAS is trading at $0.1040. If the pattern plays out, the price could approach the upper resistance trendline around $0.1250. A breakout above this level could signal a strong recovery, with potential resistance targets at $0.1563 and $0.19.
The MACD (Moving Average Convergence Divergence) indicator is signaling a bullish crossover, with the MACD line crossing above the signal line. This suggests that selling pressure is weakening, and buyers are regaining control. If momentum continues, KAS could gain further strength in the coming days.
With the upcoming Coinbase listing and bullish technical indicators, Kaspa (KAS) could be gearing up for a strong recovery.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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