Stacks (STX) And Kaspa (KAS) Record Bullish Reversal! Will They Hold Momentum?
The post Stacks (STX) And Kaspa (KAS) Record Bullish Reversal! Will They Hold Momentum? appeared first on Coinpedia Fintech News
With the 5th US Core CPI (YoY) data releasing at 3.4%, lower than forecast (3.5%) and previous(3.6%), the cryptocurrency market has displayed a strong comeback with the price of Bitcoin recording a jump of approximately 5% post-release.
Following in their footsteps, the altcoins displayed a similar trend by adding significant valuation to their respective portfolios. Positively, the global crypto market capitalization has added 4.82% within the past 5 hours, highlighting a positive sentiment this week.
Kaspa Price Successfully Retests Its Support Level:
Despite recording a correction of approximately 6% over the past week, the KAS crypto has made a strong bullish comeback by adding 9.82% to its portfolio within the past 24 hours.
With a trading price of $0.17489, a total supply of 23,904,535,391 KAS tokens, and a market cap of $4.155, the Kaspa (KAS) crypto has successfully claimed the 25th spot in the global crypto market list.
The Relative Strength Index (RSI) displays a positive bounce back in the 1D time frame, suggesting a high possibility of a bullish reversal. Moreover, the averages show a high possibility of a bullish convergence, suggesting the price will continue gaining value in the coming time.
If the market holds the Kaspa price above the support level of $0.1620, the bulls will prepare to retest its important resistance level of $0.18375. Conversely, if the bears overpowered the bulls, the KAS price would break down its support level and test its low of $0.14050 this month.
Stacks (STX) Price Analysis:
The STX price continues to display a bullish price action by adding 14.52% within the past day and 1.70% over the past week. Furthermore, the altcoin has added 20.20% within the past 30 days and has a YTD return of 61.26%, indicating a bullish outlook for the Stacks price in the coming time.
The technical indicator, SMA, displays a positive crossover in the 1D time frame, indicating a rising interest of investors in this altcoin.
The Moving Average Convergence Divergence (MACD) shows a constant rise in the green histogram, indicating increased price action for the altcoin in the crypto market. Furthermore, the averages show a bullish jump in the price chart, suggesting a positive outlook for the STX coin price.
If the bulls regain momentum, the Stacks price will prepare to test its upper resistance level of $3.140 this month. However, in case of a breakdown, the STX crypto will plunge and test its lower support level of $1.675 in the coming time.
