With MARA Interest Boost In Kaspa, Can It Shoot To $1 Mark?

• 1 The MACD exhibits a surging histogram with a bullish cross, and the RSI jumped from the 14-SMA.
• 2 Analysts predict a potential new all-time high for KAS if current positive trends continue.
• 3 With a focus on Kaspa mining, MARA aims to create a new revenue stream separate from Bitcoin (BTC) while supporting innovation.

As per a recent big update from Marathon Digital, Holdings (MARA), it has decided to diversify its revenue streams with KAspa (KAS) crypto mining. Marathon Digital wishes to expand their leadership in digital asset computing. They further stated that they robustly believe in Bitcoin’s (BTC) long-term viability, and they are pursuing new avenues for further growth.

Kaspa (KAS) Statistics

Kaspa (KAS) crypto optimized by 8.80% in market value and surged by 195.31% in trading volume in the last 24 hours, as per Coinmarketcap. Its market value stands at $4.199 Billion, and its trading volume amounted to $177.765 Million. 

Kaspa ranked 24th among the top 25 digital assets based on their market cap and one of the top five PoW assets by market cap. 

Kaspa’s current circulating supply stands at 24.037 billion KAS with 103.83 KAS as the current block reward rate. The terminal supply that has been capped max at at 28.700 billion KAS. Overall, the circulation of KAS is around 83.76%.

Kaspa (KAS) Looks Robust & Analyst Are Optimistic!

An analyst who goes by the Kaspa enthusiast on X tweeted that Kaspa has gone over the $0.18 barrier clearly, and was approaching the $0.19 barrier. After that, the doors could open for much larger gains, the optimistic analyst expects a new all-time high peak soon.

On the daily chart, the price action looks supreme, as it has been in a proper uptrend following an upward trendline from November 2023 which retested $0.185 twice, and the third time, highlighting bullish potential.

The price is above 50-day and 200-day EMAs which are dynamic support levels. Meanwhile, the MACD shows a growing histogram with a bullish cross, and the RSI bounced off of the 14-SMA, which flashed at 65.48. Thus RSI has not yet reached the overbought zone, which certainly exhibits the potential for an upsurge possibility.

At press time, KAS was trading at $0.1776 with an intraday gain of 1%. It demonstrated a spectacular rise of 22.58% this week.

If the price sustains the current gains and advances, the targets could be $0.200 and $0.210. However, like in the past, if the supply caps the gains and bears’ dominance increases, the bears could eye for support of $0.160 and $0.140.

Key Insights of KAS!

Marathon Digital Holdings (MARA) is diversifying its revenue streams through Kaspa (KAS) crypto mining to strengthen its position in digital asset computing. 

Kaspa’s unique features, market value surge, and potential for price growth make it an intriguing asset with potential for significant gains. Analysts predict a potential new all-time high for KAS if the current positive trend continues.

The technical indicators indicate more growth ahead with resistance at $0.200 and $0.210, while support would be at $0.160 and $0.140.

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

Adarsh ​​Singh

Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.