Kaspa has declined to hit a 6 month low of the past week. However, the past 48 hours have seen a shift in sentiment with KAS hiking by 11.19%However, since this dip, the altcoin has shown resilience surging by 11.19%. In fact, as of this writing, Kaspa was trading at $0.12. This marked a 2.87% increase over the past day.
Prior to this, KAS was on a downward trajectory dropping by 7.88% on weekly charts. Equally, the altcoin has declined by 28.20% over the past month. The latest price action raises questions about whether Kaspa is seeing a shift in market sentiment that could propel the altcoin towards recovery on price charts.According to AMBCrypto’s analysis of Market Prophit, although the altcoin has declined over the past month, crowd sentiment remains positive.
The data shows that KAS’ crowd sentiment was positive at 0.1509, the Buzz Score is positive at 0.952 and the Crowd Z- score sentiment is 1.269. This suggests that most investors are optimistic and anticipate, Kaspa to recover and make gains on price charts.For starters, Kaspa’s Relative Strength Index has surged from 30 to 38 at press time. This indicates that buyers were attempting to gain control will the downtrend is exhausted.
Simply put, Kaspa is seeing the potential change in fortunes. With the recent price action accompanied by positive market sentiment, KAS could recover.A breakout from this level would see, the altcoin challenge $0.165. Consequently, if the bears retake control and a decline hold, KAS risk a drop below $1 for the first time in 8 months.Gladys is a passionate crypto-enthusiast and price analyst.