Date: Thu, March 27, 2025 | 10:12 AM GMT
The cryptocurrency market is regaining bullish momentum, with Ethereum (ETH) surging 15% from its March 11 low of $1,754 to reclaim the $2,000 level. This momentum has provided relief to altcoins , many of which had been in a prolonged downtrend over the past 90 days.
Among the standout performers, Sui (SUI) has captured traders’ attention after breaking out of a falling wedge and rallying 12% over the past week. Meanwhile, Kaspa (KAS), though still trading in the red, is showing early signs of a potential breakout that could mirror SUI’s bullish move.
Source: Coinmarketcap
Kaspa (KAS) Poised for a SUI-Like Breakout
SUI’s price action (left chart) confirms a bullish breakout after weeks of downtrend, with the wedge resistance finally giving way at $2.38. This move pushed SUI to a local high of $2.78, signaling renewed buyer interest and potential further upside.
Looking at KAS’s price structure (right chart), we see a nearly identical setup. Since peaking at $0.1895 on December 8, KAS has been in a steady downtrend, recently hitting a low of $0.055 at the wedge’s support level. However, a bounce has taken it back to $0.076, with price now pressing against the wedge’s upper boundary.
If KAS follows the same trajectory as SUI, a confirmed breakout could propel it toward its 50-day moving average (MA) first, followed by a test of the 100-day MA. A successful breach above these levels would put KAS on track to challenge the key resistance zone at $0.11—representing a potential 45% rally from its current price.
What’s Next for Kaspa?
KAS is at a critical juncture. If it can muster enough bullish momentum and break above the wedge resistance, it could kickstart a strong uptrend similar to what SUI has achieved. However, failure to breach resistance could lead to extended consolidation or another leg downward.
With the broader market turning positive, all eyes will be on KAS in the coming days to see if it can replicate SUI’s successful breakout.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before making any investment decisions.
