KASPA Structure Analysis – Downtrend Breakout

2 Mei

After retesting the $0.05 demand zone (previous resistance dating back to August 2023), KASUSDT reclaimed the 50-day EMA (yellow) and tested the 200-day EMA (orange), before a brief pullback with the 50-day EMA acting as support.

Key Levels
• $0.050-$0.060: Main demand zone
• $0.083: Current support, reinforced by 50-day EMA
• $0.105: Current resistance, reinforced by 200-day EMA
• ~$0.120: HVN and potential resistance
• $0.155-$0.160: HVN, previous S/R and potential resistance
• $0.180-$0.200: Main supply zone

Here's a weekly chart with volume profiles for more context:


Considerations
• The breakout from the recent downtrend, and the break above the 50-day EMA followed by a retest as support, is a good sign for the bulls.
• If the 200-day EMA is successfully reclaimed, it could offer a good shot at retesting the main supply zone in the $0.180-$0.200 area.
• Conversely, a sustained break back below the 50-day EMA could lead to another test of the $0.050-$0.060 main demand zone.

Neutral outlook until a break above 200-day EMA or below 50-day EMA.

2 Jun

Nota

As expected, KASPA found resistance at the first HVN and failed to reclaim it before retracing to the previous $0.083 support.
This would be a logical area for a bounce, with the confluence of previous support and 0.618 Fib of the last leg up.
A reversal here could open the way to a retest of both HVNs and of the main supply zone in the $0.180-$0.200 area.