Kaspa (KAS) has broken out, reaching $0.204-$0.205 on some exchanges. This is noted by Crypto MindSet's YouTube analysis where they emphasize the importance of the daily candle body closing above key levels at $0.195 and $0.202.

Cryptocurrency YouTuber Crypto MindSet has highlighted a breakout by Kaspa (CRYPTO: KAS) that could lead to substantial gains if confirmed with high volume.

What Happened: Crypto MindSet noted that Kaspa is trading in the $0.204-$0.205 range on some exchanges, with a recent focus on the $0.194-$0.195 levels.

If Kaspa breaks above these points, it could trigger a short squeeze, forcing short sellers to cover their positions and potentially driving the price higher.

Crypto MindSet said that if the breakout is confirmed, Kaspa could move to $0.21 or $0.22, with a possibility of reaching $0.40 soon.

The YouTuber highlighted the importance of volume analysis in confirming breakouts, especially in the absence of a daily candle print, which is crucial for predicting short-term movements and potential melt-ups.

“Kaspa is breaking out, reaching $0.204-$0.205 on some exchanges. This is major. If Kaspa prints higher, we should get a melt-up and a big short squeeze,” said the host.

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KAS Price Prediction: A C and handle pattern formation on the BTC pair is indicating a potential for a substantial upward move. Key levels to watch are 33,000 and 36,000 Satoshis, which will determine the strength and validity of the breakout.

Comparing Kaspa to other assets, the video suggests that Kaspa has flipped Internet Computer (CRYPTO: ICP) in market performance.

“Oh look at that it flipped ICP rubbish ICP bye-bye,” noted the host.

“If we get a confirmed breakout, Kaspa can flip other major coins and even hit a $0.60.”

The YouTuber also showcased past successful trades and breakouts, highlighting a history of strategic buying at breakouts and selling at peaks.

The strategy involved buying during confirmed breakouts, stacking sell orders and taking profits during pumps while maintaining a core position, which proved successful in maximizing gains and managing risks.

“Always have a plan and strategy; don’t just buy and hold. Your target is $0.40 if the breakout is confirmed with volume,” advised Crypto MindSet.

Price Action: At the time of writing, Kaspa is up 4.68% in the last 24 hours and is trading at $0.20, according to data from CoinGecko.

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