Kaspa is targeting a 55% price increase after breaking out of a months-long descending trendline. Whale accumulation, with over 35 million KAS tokens acquired, and a 144% surge in trading volume are supporting this bullish move, which also coincides with Bitcoin's recovery.
Bullish Momentum Shift
Kaspa's breakout from the descending trendline signals a bullish momentum shift. Whale accumulation and rising open interest in futures highlight investor confidence and market optimism. As quoted by Kaspa Builders, "whale accumulation that likely played its part in triggering the rebound."
Surge After Monthslong Decline
The Kaspa price surge follows a monthslong decline, hitting intraday highs of approximately $0.061, an increase from lows of $0.036. Whales accumulated 35 million KAS tokens, indicating substantial investor interest in Kaspa.
Trade Volume Spike
The breakout coincided with a 144% spike in trading volume, reaching $103 million in 24 hours. This surge aligns with a broader Bitcoin recovery, pushing related altcoins higher.
Historical Patterns and Potential
Kaspa's past patterns show similar rebounds after prolonged downtrends. "Kaspa’s pattern of strong rebounds after downtrends contributes to growing investor optimism." Past Novembers averaged 175% increases, indicating that historical trends support further potential gains.
Insights suggest that enduring market demand could push prices further. If bullish momentum continues, Kaspa may retest historical peaks, supported by whale behavior and broader crypto market trends.