Kaspa Price ‘Wakes Up’ But KAS Still Fails to Break Out of This Channel as InQubeta Breaks $50 Million Market Cap

As the market started to recover post-halving, Bitcoin broke above $66k, and Kaspa (KAS) performed fairly well in this stretch, up around 8%. At the same time, InQubeta concluded its crypto presale and is now available on Uniswap and Dextools with over $50 million market cap.

KAS is trading around $0.1277 at press time, which is still down from its all-time high (ATH) of around $0.18 set in mid-February. 

Ever since hitting that ATH, it’s clearly visible on the KAS/USDT chart that it’s trading in a descending channel. A descending channel is a technical analysis pattern formed by drawing two parallel trendlines: one connecting the lower lows and the other connecting the higher highs. It indicates a bearish trend, with the asset experiencing lower highs and lower lows over time.

Today’s pump of around 8% is too small for KAS to break out of this channel, as seen on the chart. To successfully break out of this channel, KAS would need to break the $0.14 resistance level. 

On the flip side, $0.11 should act as a strong support, as this is the current 200-day moving average, which is a widely followed long-term trend indicator.

The Moving Average Convergence Divergence (MACD) line is currently below the MACD signal line, indicating a bearish trend. The Relative Strength Index (RSI) is at 52, which is considered neutral territory, neither overbought nor oversold.

Based on the current technical indicators and chart patterns, KAS might continue to struggle in breaking out of the descending channel in the short term. 

However, if it can gather enough momentum to break through the $0.14 resistance level, it could potentially initiate a bullish reversal and target higher levels. Conversely, a break below the $0.11 support could trigger further selling pressure and potentially lead to lower lows.

Kaspa is a decentralized, open-source, and scalable Layer-1 solution designed to address the challenges of scalability and speed in decentralized transactions. Traditional blockchains often face issues with network congestion, leading to slower transaction times and increased fees as they expand. 

Kaspa aims to overcome these limitations by introducing an architecture and protocol, known as GhostDAG, which enables parallel processing of transactions rather than sequential processing.

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— Kaspa (@KaspaCurrency) April 16, 2024

InQubeta Breaks $50 Million Market Cap

After a successful presale where it raised $13.6 million, InQubeta launched on Uniswap and currently has a market cap of over $50 million! The QUBE token listed at a price of $0.03 and is now trading around $0.037.

InQubeta is a platform that merges blockchain technology with artificial intelligence (AI) to transform the investment sector in AI startups. It serves as the world’s premier AI crypto crowdfunding platform, offering a secure and seamless avenue for enthusiasts and investors to engage with cutting-edge AI startups. 

InQubeta is a platform that aims to make AI investments accessible to everyone, democratizing this opportunity. It combines crypto and NFTs, functioning as a crowdfunding marketplace where individuals can invest in AI startup projects using the QUBE token. 

Through this NFT marketplace, startups can raise funds and engage with their community by offering reward-based and equity-based NFTs.

By acquiring QUBE tokens, investors can partake in the growth and potential success of AI technology startups, potentially yielding significant returns over time. InQubeta’s NFT marketplace presents a unique investment avenue for those eager to support AI technology innovation and invest in the next generation of AI startups.

The platform facilitates staking of QUBE tokens, allowing investors to earn rewards from a dedicated reward pool. This mechanism provides an additional income stream and incentivizes long-term investment in the QUBE token.

AI startups can apply for listing on InQubeta through an online form on the InQubeta.ai website. Startup projects are evaluated based on their growth potential, likelihood of success, and alignment with InQubeta’s values and mission. 

InQubeta furnishes investors with resources to research and evaluate startup projects, including information, reviews from the community, and insights from experienced investors and AI technology experts.

👾At Inqubeta, we're more than just a platform – we're a catalyst for innovation in the #AI technology sector.

🔦By providing a comprehensive suite of services, we're paving the way for a #future where groundbreaking ideas thrive.

— Inqubeta (@Inqubetahq) April 23, 2024

InQubeta’s fractional investment system and NFT integration allow users to own shares of promising AI startups worldwide, with each investment opportunity minted into an NFT and fractionalized. 

This system enables investors to invest in a way that suits their budget, so this makes it accessible to both experienced traders and newcomers to the crypto space.

Conclusion

While Kaspa (KAS) has shown signs of life with its recent 8% pump, it remains trapped within a descending channel on the charts. Breaking out of this pattern will be crucial for KAS to initiate a more significant bullish trend. 

On the other hand, InQubeta’s QUBE token has made a strong debut, with its market cap surpassing $50 million after a successful presale. InQubeta’s approach of combining AI and blockchain technology for investment opportunities in AI startups has garnered interest in the AI crypto sector.

All in all, platforms like InQubeta that leverage technologies such as AI and NFTs might potentially gain more traction in the next cycle of this bull run. 

Visit InQubeta