Is It Too Late to Buy Kaspa? KAS Price Blasts Up 16% and LPX Token Surges Past $1.6 Million
In a market defying display, new GHOSTDAG protocol Kaspa (KAS) has exploded +16% in a huge bounce from the lower trading channel, leaving traders asking is it too late to buy Kaspa?
Kaspa is a proof-of-work layer-1 blockchain that makes use of sophisticated 'GHOSTDAG' technology - which enables KAS to act as an instantaneous validation transaction sequencing layer.
In recent weeks the upstart project has jumped from win-to-win with markets currently fuelled with excitement about the latest upcoming CEX listing with ByBit exchange.
KAS Price Analysis: Is it Too Late to Buy Kaspa?
As excitement among traders grows ahead of the upcoming Bybit listing, Kaspa is trading at a current market price of $0.039 (representing a 24-hour change of +2%).
This comes following the dramatic +20.5% pump yesterday, which saw KAS bounce hard off lower trendline support, in a sudden reclamation of the descendent 20DMA.
Now sat poised, with the supportive under footing of the 20DMA, Kaspa's technical structure has strengthened as upside momentum seems set to resume.
All eye's are now on the immediate ceiling at $0.041 - which formed a layer of resistance on August 21.
If KAS can flip this higher price level to support then price will be positioned to return to the top of the trading channel, likely forming a new all-time high in the process.
However, Kaspa's indicators provide some cause for concern, with the RSI already overheating to an overbought signal on the recent push-up at 54.77.
While the MACD shows minor bullish divergence, reflecting the bounce, at 0.00030.
Overall, KAS appears to be poised, with technical structure strengthening a brief period of consolidation here above the 20DMA could set the stage for an impressive rally.
This leaves KAS with an upside target at $0.045 (a potential +14.9%).
While downside risk from here is limited with a fall likely limited to $0.035 (a possible -10.6%).
Kaspa's risk: reward ratio therefore stands at 1.4 - an attractive entry with moderate upside.
But while investors chase KAS, smart traders are already seeking out the next big play before it pumps - and next-generation AI analytics tool Launchpad XYZ has exploded onto the scene with the promise of supercharging portfolios.
Launchpad XYZ: Just 5 Days Left to Join AI Insight Platform Used by Pro Traders
There is less than a day left to buy Launchpad XYZ (LPX), an innovative ecosystem designed to lower the entry barrier to Web 3.0 with user-friendly tools, insights, and analytics.
Whether you're a seasoned crypto user or just starting, this platform offers a range of features, such as NFT discovery, a decentralized exchange (DEX), a Web3 wallet, and utility token analysis.
At the heart of the Launchpad XYZ ecosystem lies the $LPX token - holders who stake a minimum of 10,000 tokens can reap numerous benefits, including substantial fee discounts, exclusive early access to NFT mint whitelists and presales, beta play-to-earn game launches, as well as cool community prestige badges.
The platform's intention to list LPX on major cryptocurrency exchanges is expected to drive significant demand for the token.
Following the introduction of its primary features in Q3 2023, Launchpad XYZ anticipates substantial user adoption.
With its maximum token supply of 1 billion, $LPX is set to launch on crypto exchanges later this year with a fully diluted market cap of $70 million. This makes it a platform to watch in the rapidly evolving crypto industry.
Given its comprehensive suite of features and ambitious vision, Launchpad XYZ is set to break barriers and redefine the crypto space.
As it facilitates an inclusive Web3 ecosystem, the $LPX token is proving itself a promising opportunity for investors. Whether you're new to the crypto world or a seasoned investor, Launchpad XYZ is one platform you can't afford to overlook in 2023.
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Don't miss out on the opportunity to invest in Launchpad XYZ, a promising project with the potential for significant growth.
.Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.