Key Takeaways:
- KAS token risks a 90% drop despite the September rally.
- The coin trades within a rising wedge.
- Kaspa’s adoption continues with two new partnerships.
YEREVAN (CoinChapter.com) — Kaspa (KAS) price saw a 5% intraday drop to $0.048 on Sep. 14, reversing from an uptrend that ensured a 30% gain in the previous week.
As mentioned in the last Kaspa review, bears could put more red candles on the charts. However, another 14% uptrend appears likely before the week’s end on Sep 17, as KAS traded within a rising wedge.
Short-term gains ahead for KAS
The rising wedge consists of two converging trendlines that take the asset value incrementally higher while lowering the price swing. KAS has traded within the formation since early April but has not confirmed it as of Sep 14.
If the token breaches the support line, the subsequent drop could equal the maximal wedge height, pinning the target at $0.004, or 90% lower than the current value.
Meanwhile, despite the intraday decline, the Kaspa coin experienced an overall 10% increase in the previous 24 hours. Simultaneously, the token’s trading volumes increased 65%, momentarily taking the Kaspa market cap to $1 billion.
If the buying incentive continues, the KAS price could increase by another 14% to hit the wedge’s resistance before retesting it and dropping to the target value. Thus, the short-term uptrend does not contradict the rising wedge predictions.
Kaspa integration rises
Meanwhile, Kaspa announced several new partnerships that could propel the coin, at least in the short term. According to one of the announcements, NOWPayments, a non-custodial crypto payment gateway, enabled KAS swaps, payments, and withdrawals.
Kaspa team also tweeted that CoinRabbit, an instant cryptocurrency lending service, will enable its users to take out loans against KAS. The platform posted a step-by-step guide on calculating the loan, sending the collateral, and monitoring the loan.
The noted integrations will increase the Kaspa audience and might contribute to further price increases. However, potential KAS investors should watch Bitcoin and the overall market sentiment. Kaspa is unlikely to consistently maintain gains from a solo rally due to a lack of liquidity in the markets.
