KAS has experienced an incredible 8x run in the last 45-60 days (Mid-Feb to Mid-April 2023).
We started the year at $0.005. The price more or less held around $0.05 until Mid-Feb 2023. Then we shot up like a rocket to an all-time high (ATH) of $0.0427 on April 2nd.
We are currently down 18% from the ATH, so we want to be cautious when buying this high (or near a recent ATH). Some of you might want to wait for an extra confirmation we are heading back up before buying, but the price could continue running higher while you are waiting.
The entry point is not my biggest concern; I’m more concerned about when some of the bigger holders will start selling again. There are lots of people in good profit (even before this recent run).
$0.04 might start to see selling again, and the bears have already rejected the bulls on the 1-day chart at this level once at the ATH. However, if we retest this resistance at $0.04 and breakthrough, then we could easily see $0.05 to $0.07 before another sell-off occurs.
This is a little bit of a challenging buy call, as we are within 20% of the ATH. Anytime we are in "price discovery" and have no historical price action to work with, it makes it a real gut call.
I'm a big fan of this project, and I think any buy under $0.03 is a 4-star opportunity.
According to CoinMarketCal (see image), the price of $0.0275 (April low) and the 40 EMA near $0.0237 may represent possible support, so an entry price of $0.03 should not fall much before finding support. Maybe even an additional DCA buy if it drops below $0.025 would be good as well.
In full disclosure, I got in back around $0.005 and have sold a little of my position to recover my costs and will be just holding the rest for the moon or beyond ($1, $5, $100+).
If you are looking for some short-term news that can be a catalyst for the price, on April 15th, Kaspa will rollout RUST (alpha release) on both testnet and mainnet Kaspa on RUST. So, if you do not buy on this side of that event, I would wait for the next sell-off and buy it afterward. Show Less
4
