Crypto market analyst Finance Freeman has released a chart indicating that the price of Kaspa (KAS) may be approaching the bottom range of its current downtrend. The chart combines Fibonacci retracement levels, long-term trend support lines, and price movement within a descending channel, presenting characteristics of a typical bottoming pattern.
Currently, the KAS price has touched the area of approximately $0.24, which not only coincides with the lower edge of the descending channel but also aligns with the key support line prior to the previous all-time high. When multiple technical levels converge at the same price point, it often signifies a shift in market sentiment, with selling pressure potentially weakening and buying power quietly accumulating.
The analyst further outlines a possible short-term trajectory: the price may exhibit sideways consolidation around $0.24, forming a typical "double bottom" pattern. This structure usually appears in scenarios where the market reverses after testing the same support level twice. During this period, price fluctuations tend to moderate, and the market, while absorbing previous selling pressure, accumulates momentum for a new round of upward movement. If this pattern is confirmed, it may indicate that the previous downward trend is about to end.
From a longer-term perspective, if the double bottom structure is successfully formed, Kaspa may initiate a significant rebound. The long-term target in the chart points to around $1, implying a multiple-fold increase from the current price level. However, the most critical observation point remains the validity of the $0.24 support. If this level holds, it will reinforce the judgment that "a bottom is forming"; conversely, if it breaks down, it may further decline until new solid support emerges.
The market remains in a crucial observation window, and investors need to closely monitor changes in volume and price breakout signals, avoiding premature entry and waiting for clearer confirmation of a reversal.