Kaspa surged to a seven-week high of $0.041 on Thursday before easing to around $0.037 at the time of writing. The token has now confirmed a breakout from a multi-year falling wedge pattern, indicating the possibility of further gains ahead.
Summary
Kaspa climbed to a seven-week peak near $0.041 and validated a breakout from a long-term falling wedge, pointing to continued upside potential.
Technical indicators like Supertrend and Aroon suggest a strengthening bullish trend, with resistance around $0.038 and a possible move toward $0.056.
Exchange outflows totaling $1.8 million signal growing investor accumulation and reduced selling pressure, supporting the positive outlook.
Based on data from crypto.news, Kaspa rallied sharply and is currently trading at $0.037, marking a nearly 42% increase from its year-to-date low.
Technical analysis indicates the token could still gain another 50% before reaching exhaustion levels. On the daily chart, Kaspa has broken above a multi-year falling wedge pattern formed by converging downward trendlines. Typically, such breakouts from the upper boundary lead to strong upward momentum in the following sessions.
This bullish setup is further backed by indicators. The Supertrend has turned positive as the price moved above a key resistance line, signaling upward momentum. Meanwhile, the Aroon indicator shows Aroon Up at 92.86% and Aroon Down at 14.29%, highlighting a strong emerging uptrend.
At present, immediate resistance is seen near $0.038, which corresponds to the 23.6% Fibonacci retracement level drawn from the May 12 high of $0.13 to the October 10 low of $0.0090. A decisive move above this level, supported by strong trading volume, could drive the price toward $0.056 — nearly 51% higher than current levels.
Investors moving Kaspa off exchanges
The bullish case is also supported by increasing exchange outflows. Data from CoinGlass shows that approximately $1.8 million worth of Kaspa has recently been withdrawn from exchanges.
Such outflows often indicate that investors are shifting their holdings to private wallets, typically in anticipation of future price appreciation. This behavior reduces available supply on exchanges, potentially limiting selling pressure and supporting further price increases.
