Kaspa (KAS) To Rise Further? Key Harmonic Pattern Signals Potential Upside Move
By: coinsprobe|2025/05/11 07:15:05
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Date: Sun, May 11, 2025 | 06:50 AM GMTThe cryptocurrency market continues to build on its recent strength, with Bitcoin (BTC) and Ethereum (ETH) leading the charge. BTC has crossed the $103K mark, while ETH has soared more than 60% in the past 30 days, now trading just above $2,500 — its highest level in months. This bullish wave is spilling into altcoins too, including Kaspa (KAS).KAS is currently up over 43% in monthly gains, now trading near $0.1060, and a classic harmonic pattern on its chart is hinting that more upside rally might be around the corner.Source: CoinmarketcapHarmonic Pattern Signals More UpsideOn the 4-hour chart, KAS is forming a Bearish Crab harmonic pattern — a technical formation that is often used to identify potential reversal zones when the final leg, labeled CD, completes. However, until that happens, prices tend to rise with strong momentum.The pattern began forming after KAS failed to hold above $0.1091 on April 25, which marked point X. Following that, the price dropped nearly 23%, finding a local bottom near $0.08273 on April 30 at point A.Kaspa (KAS) 4H Chart/Coinsprobe (Source: Tradingview)The AB leg then retraced approximately 81% of the XA move. After that, the BC leg retraced another 81.1% of AB, finding solid support near $0.08678. This support level sparked renewed buying interest, and since then, the CD leg has been pushing upward with strength.Now, the projected final point D is approaching, located around $0.1255. This level is not random — it aligns with the 1.618 Fibonacci extension of the XA leg, a critical zone in Bearish Crab formations and one that typically acts as strong resistance.What’s Next for KAS?If the harmonic pattern completes as expected, KAS could rally toward $0.1255, representing an estimated 18% upside from its current price near $0.1060. The price is also currently supported by the 0.786 Fibonacci retracement level at $0.1035, which is helping maintain bullish momentum.This zone near $0.1255 should be watched carefully. It is a confluence of the harmonic D point and a major Fibonacci extension, which often acts as a magnet for short-term price targets but also a hotspot for potential selling pressure.As long as KAS stays above its support and maintains upward momentum, bulls could retain control in the short term. However, once it nears the D point, a pullback or consolidation is very possible, especially if the broader market cools off.Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before making investment decisions in the crypto market.
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