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The Kaspa price is up more than 1,500% over the past year to trade at $0.136 as of 13:30 am EST as investor excitement surrounding the altcoin continues to grow.
This positive performance continued throughout the past trading day as well. During this period, the cryptocurrency recorded a gain greater than 4%. Over the past year, that’s helped it become the best-performing altcoin among the top 100 tokens ranked by market capitalization.
Kaspa Price Could Surge Soon
Daily chart for Kaspa/USDT (Source: TradingView)
The Kaspa price may be on the cusp of a breakout as a symmetrical triangle emerges on the cryptocurrency’s daily chart. If this pattern leads to a strong move toward the upside, Kaspa may attempt to flip the resistance level at $0.152655 into support.
However, a break below the triangle chart pattern in the next 48 hours may invalidate the bullish thesis. In this scenario, the Kaspa price could return to the immediate support level of $0.103260.
Kaspa Price: Bulls Starting to Re-Introduce Themselves
Technical indicators on the cryptocurrency’s daily chart suggested that the Kaspa price may enter another strong leg up in the next few days. The Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators showed signs of buyers slowly growing stronger.
Looking at the MACD indicator, the slope of the MACD histogram flipped positive over the last 24 hours following a multi-day negative slope. This could signify that Kaspa’s negative trend may soon undergo a bullish reversal. Supporting the bullishness expressed by the MACD indicator was a significant technical flag on the verge of being triggered by the RSI indicator.
Although technical indicators suggest Kaspa could rise in the short term, investors looking for more explosive potential opportunities may want to look at Bitcoin ETF Token.
Capturing Investors’ Attention With Its Vast Amount of Potential
Bitcoin ETF Token is selling fast in its presale phase and has already raised more than $2 million. Investors are most likely rushing to accumulate this crypto as rumors of the first spot Bitcoin ETF receiving approval in the next few weeks flood the market.
Anyone considering purchasing Bitcoin ETF Token’s native cryptocurrency, BTCETF, may want to do so quickly here. The altcoin’s presale is scheduled to enter its next phase in less than 15 hours, when the price will increase.
BTCETF Set To Become More Scarce
Highlighting the third major Milestone for #BitcoinETF. 3️⃣
This step would further cement its market influence!
At launch, 5% of #BTCETF #Tokens will be eliminated, reducing transaction tax from 3% to 2%.#ETFDebut #CryptoCurrency pic.twitter.com/YgjJAuQmyl
— BTCETF_Token (@BTCETF_Token) December 1, 2023
Bitcoin ETF Token will burn 5% of the total supply. Not only will this reduce the transaction tax from 3% to 2%, but it will also likely lead to an increase in BTCETF’s price.
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