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Kas has registered an important run, but an important resistance zone is now a major obstacle, with signs of spot sales pressure that are still present. The trade volume remains high and the bullish momentum continues to build, which indicates strong buyer interest, even at the current resistance levels.
Cash [KAS] rose by 13% in the last 24 hours, at the time of the press, which extended a trend of steady profits that led to a price increase of 72% in the past four weeks.
However, this bullish momentum can block despite the rising volume and aggressive buy, while price promotion test a historical Bearish resistance zone test.
Beerarish Catalyst in the game while Kas Supply Zone hits
Graphing analysis reveals that KAS has been introduced a critical resistance area, also identified as a food zone.
This zone is between $ 0.114 and $ 0.127 and has activated historically increased strong price rejections.
For example, in February, when Kas exchanged briefly in this zone, this led to a large decrease that marked the lowest price of the year of the coin.
Source: TradingView
A similar decline followed in May, when Kas touched this region again and then deposited to the range of $ 0.6.
At the time of the press, Kas had tested this resistance zone and confronted with small rejection, while the candlestick turned red. Although this does not yet reflect a confirmation of a sale, this reflects a considerable sales pressure at this level.
Buyers can still have the upper hand
Despite the resistance, indicators suggest that sellers can lose as buying activity increases.
The most important statistics such as accumulation/distribution (A/d) and Bull Bear Power (BBP) indicate the growing bullish force.
The A/D line reflects a strong accumulation, which buys more than sale in recent sessions. In particular, the accumulation volume has reached 10.18 billion greenhouse over the past 24 hours, trending up and suggests the potential for further growth.
Source: TradingView
Likewise, GDP reached its highest point in two weeks, a sign that bulls are starting to dominate the market with more interest.
This trend suggests that although Kas acts in a well -known food zone, bulls aggressive in steps. However, it remains uncertain whether it will actively break out above this level.
Spot traders resume greenhouse greenhouse
In the past four days, even when KAS collected, Spot traders had consistently sold Token about centralized fairs.
According to data from CoinglassCumulative turnover of these traders was $ 1.48 million, which reflects a bearish sentiment despite the rally.
Source: Coinglass
Interesting is that the sales pressure is delayed. In the last 24 hours, total spot sales were only $ 47,000, indicating a renewed purchase interest rate.
Although this suggests that bulls are starting to accumulate on the spot market, the trend is not completely bullish. Bears could still come in again, put down downward pressure and withdraw a price for greenhouse.