Altcoin
Do Kaspa (KAS) and Maker (MKR) tokens suggest a 15% rise next week?
After successfully ending yesterday on a positive note, the cryptocurrency market has seen a 0.86% correction in valuation, with top tokens stuck near their crucial support levels. However, mid-cap altcoins have regained momentum adding significant value.
The prices of major altcoins such as Maker (MKR) and Kaspa (KAS) have seen an increase of more than 10% in the last day, indicating growing investor interest in these tokens. With increasing volatility in the cryptocurrency industry, will KAS and MKR prices maintain their gains or lose momentum next week?
Producer Price Shows Growing Bullish Sentiment:
After trading under bearish influence since April, the Manufacturer’s price regained momentum and added 8.71% to its portfolio with a +21.49% change in its trading volume. Furthermore, the altcoin has added 4.12% over the past week, indicating growing bullish sentiment for the MKR price.
The technical indicator, MACD, is showing an ascending pattern in its green histogram, indicating an increase in buying pressure for the Maker price in the market. Furthermore, the averages show a bullish leap, suggesting that Price MKR will continue to gain value this week.
On the other hand, the simple moving average (SMA) has successfully recorded a bullish crossover on its 1D time frame price chart, suggesting a positive outlook for the Maker cryptocurrency in the near future.
If the market continues to trade with a bullish sentiment, the MKR coin price will test its resistance level of $2,536 again in the coming weekend. However, in case of a trend reversal, the price of the Maker cryptocurrency will drop towards the crucial support level of $2,175.
KAS price is about to test its important resistance level:
THE Kaspa price continues to show bullish sentiment adding 11.70% to its portfolio in 24 hours. Furthermore, the altcoin has jumped 20.83% in the last seven days and 27.37% in the last month. Notably, it rewarded its long-term investors with a YTD return of 58.97%.
The Relative Strength Index (RSI) is recording a significant uptrend towards its overbought range, highlighting an increase in price action for the crypto token in the market. Furthermore, the average continues to trade above the midpoint, suggesting a positive outlook for the KAS coin price in the near future.
With the growing bullish sentiment, Kaspa price may soon retest its important resistance level of $0.183. Sustaining the price at that level will set the stage for Kaspa (KAS) price to head towards its $0.205 upper resistance level and make a new yearly high.
On the contrary, if the bears get the better of the bulls, the KAS cryptocurrency will lose momentum and fall towards the $0.162 support level. Furthermore, if bears continue to dominate the market, the Kaspa token would plummet towards a low of $0.140.