A 14.44% price increase in the past 24 hours has put the Kaspa token (KAS) in the spotlight. The trigger isn’t just ordinary market speculation, but rather the Kasplex project, part of the Kaspa ecosystem, which has launched a public Layer-2 testnet called “Kasplex zkEVM.”
This is no small news, as technically, the testnet bridges Kaspa’s notoriously fast speeds (a new block every 0.1 seconds) with Ethereum’s much more established developer ecosystem. As a result, Kaspa has become increasingly attractive not only to its own community but also to builders accustomed to coding in the EVM world.
The launched testnet already features MetaMask integration, an active faucet, a publicly accessible explorer, and, of course, the bridged KAS token. This is a test drive before Kaspa’s full Layer-2 mainnet launch and smart contract functionality, scheduled for August 31st. If all goes well, Kaspa could very well transition from being a mere flash asset to a truly productive platform.
Kaspa technical signals hint at growing bullish momentum
From a technical perspective, according to CoinMarketCap data, the KAS chart shows a strong rebound from the $0.05–$0.06 support zone — an area that was tested twice during June and July. The 78.6% Fibonacci level at $0.0726 appears to be a key surge point. And that’s not all. The 7-day RSI has touched 71, a signal that typically indicates strong short-term bullish momentum.
However, this level is often followed by a mild correction. Furthermore, the MACD recently recorded a bullish crossover on July 22, bolstering bullish sentiment.
KAS trading volume in the past 24 hours has also exploded, rising 149% to $259.8 million. Interestingly, almost half of this surge came from the derivatives market, particularly futures contracts. Traders may be starting to position themselves for the next target, around $0.15, which is now the closest key resistance level.
If this momentum continues, it’s not impossible that this level could be reached in the near future. But of course, this is crypto, and surprises can strike at any time.