This is the Main Reason Chainlink (LINK) and Kaspa (KAS) May See New Highs in Q3 - A Technical Price Outlook

Chainlink (LINK) and Kaspa (KAS) are poised for potential growth in the upcoming third quarter. This article delves into the key factor driving this upward trend. By examining recent technical patterns and market behavior, readers will uncover why these coins might be on the verge of reaching new highs soon. Intrigued? Read on to discover the details.

Chainlink Price Analysis: Recent Drops Pave Way for Key Levels

The past month shows a marked decline with prices sliding by 16.40%, while the six-month period reveals a more significant drop of 39.89%. A one-week gain of 2.76% hints at short-term recovery, yet the overall trend remains steeply downward. Recent sessions indicate Chainlink has faced considerable pressure, with key indicators reflecting this bearish mood. Historical price movements confirm the coin has struggled to maintain momentum, showing volatility and a steady erosion in value over time.

Chainlink currently trades between $12 and $16.89, close to a nearest resistance at $19.80 and support at $10.30, with secondary levels at $24.55 and $5.55. Bears dominate the market, with oscillators indicating a negative awesome signal at -1.42 and a moving average recommendation of -0.27. Although a modest momentum indicator at 0.49 and an RSI near 48.98 provide some relief, a clear trend remains absent. Traders might see the lower support near $10.30 as a potential entry point while watching for confirmation above the $19.80 resistance. In this uncertain market, balanced strategies with tight stop losses may help manage risk.

Kaspa Price Dynamics Show Past Downturn and Critical Levels

KAS prices dropped by 18.41% within one month and plunged nearly 45.40% over six months. Price action stayed within a range of about $0.065 to $0.1167 during that period. The decline coincided with shifting market sentiment and dampened momentum. Measurements and statistics during these stretches signaled growing bearish pressure and volatility. Price fluctuations reflected cautious trading as investors responded to short-term setbacks and longer-term fears. Technical readings pointed to resistance areas and hints of recovery. Overall market activity during these timeframes highlighted hesitation among traders in the absence of strong bullish support.

Current trading sees the coin operating between $0.065 and $0.1167 with the nearest resistance at $0.1496 and the next barrier at $0.2011, while support is pinned at $0.0466. Price levels offer a clear window for decision-making even though a strong trend remains elusive. The momentum indicator at 0.0060 combined with an RSI reading around 45 signals indecision among participants. Bulls appear to be on the back foot after sustained declines, while bears maintain control from previous selling pressure. Traders might consider stepping in near the support level hoping for a bounce or testing resistance for potential short-term reversals. Cautious strategies with tight stop orders enable risk management within these bounds.

Conclusion

Chainlink (LINK) and Kaspa (KAS) are positioned for potential new highs in Q3 due to strong market indicators and positive technical analysis. Both coins show promising patterns that suggest growth. With sustained momentum and investor interest, there is potential for significant appreciation in their values. Keep an eye on market trends and further developments to gauge their performance in the coming months.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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