FxWirePro- KASUSD (Chart of the day)

Kaspa is the fastest, open-source, decentralized & fully scalable Layer-1 in the world. Kaspa is a proof-of-work cryptocurrency that implements the GHOSTDAG.

GHOSTDAG -

PHANTOM, is a proof-of-work-based protocol for a permissionless ledger that generalizes Nakamoto's blockchain to a direct acyclic graph of blocks (blockDAG). It is a protocol that generalizes Nakamoto's longest-chain protocol.

Main features -

Transactions per second 300

Block time - 10 seconds

KASUSD performed well in the past week

Any daily close above $0.20 confirms further bullishness.

KASUSD showed a minor sell-off after gaining more than 35% in one week. The pair holds well above the short-term (21 and 55 EMA) and long-term moving average. It hit a high of $0.1830 and is currently trading around $0.1732.

The bullish invalidation can happen if the pair closes below $0.070. On the lower side, the near-term support is $0.1280. Any break below targets $0.1150/$0.100. 

The immediate resistance stands at around $0.20. Any breach above confirms bullish continuation. A jump to $0.25/$0.30  is possible. A surge past $0.30 will take it to $0.50.

It is good to buy on dips around $0.15 with SL around $0.10 for TP of $0.250.