 price could benefit from the upcoming Crescendo HardFork Launch that could be anytime from May 5, 2025.){kind=link}
Key Insights:
- Kaspa (KAS) price action was on the verge of a breakout from a falling wedge pattern on the daily time frame.
- Crescendo hard fork on the 5th of May perfectly coincides with the next FOMC meeting on the 7th.
- The number of Unique addresses was at its lowest level.
Kaspa price might gain from the upcoming Crescendo Hard Fork Launch. The launch is expected to occur anytime from May 5, 2025. This event could have a positive impact on KAS’s market performance.
However, the upgrade does not guarantee gains in price as a reaction, but there could be a slight movement.
Kaspa Price Outlook: Wedge Pattern Signals Upcoming Moves
The daily timeframe showed a falling wedge pattern. This might trigger the Kaspa price to break out above the $0.07678 zone.
The pattern showed a wide range, peaking at $0.18 in November 2024. The recent drop to $0.065 suggested significant price movement ahead.
Falling wedges historically triggered bullish price changes in markets, with traders using volume and upper trendline closures as confirmation.
The gold crossover indicator, MACD, confirmed bullish trends by showing convergence patterns. The bullish MACD signals read a value of 0.00087 at the crossover of lines and a positive 0.00159 histogram.
The 0.078 resistance area within the wedge provided Kaspa price with an opportunity for upward movement. It could rise to $0.100 and advance to $0.120, previously a consolidation level.
If Kaspa faces rejection at the wedge resistance, it may fail to break out successfully. This could lead the price to retreat toward the lower trendline region around $0.066. This could trigger another price drop below the support at $0.060.
Kaspa price stayed close to its breakout boundary. Moving ahead, the MACD indicators created conditions for a bullish outcome, requiring the price to hold above the wedge.
Kaspa’s Crescendo Hard Fork Launch Countdown
With the anticipated breakout, the Crescendo Hard Fork of Kaspa is scheduled for May 5, 2025. The network has progressed 57.14%, leaving approximately 1.44 million blocks to completion.
The upcoming hard fork time coincided with the FOMC meeting date of May 7. This might produce macro-crypto volatility.
Crescendo introduced a significant enhancement to Kaspa by providing precise finality to its unique BlockDAG structure. This innovation allows for creating multiple blocks simultaneously, boosting efficiency and scalability.
The protocol enhancement aimed to bolster Kaspa’s network security and minimize orphanage risks. It also laid the foundation for Kaspa Smart Contracts and developed a robust Layer-2 framework.
Engineers set a new DAA threshold at 108,723,985 as part of the upgrade implementation. This adjustment was designed to ensure a more equitable distribution of block rewards across the network.
The future development of Crescendo could lead to more developer participation and institutional awareness about Kaspa. This could let the Kaspa price surpass its current $0.076 position.
The price momentum may slow down due to unanticipated bugs or uncertainty surrounding the FOMC market events.
Through the hard fork, Kaspa could achieve its largest network development since the mainnet launch. This could establish its importance as a scalable proof-of-work chain seeking relevance to long-term infrastructure.
KAS Unique Active Addresses Ahead of Launch Raise Worry
Meanwhile, Kaspa price reached 14.74K active unique addresses, one of the lowest in the past 12 months. This coincided with a market price of $0.08.
This was a far cry from the high activity levels posted during November 2023, where addresses were over 200K. The declining address activity, despite the upcoming Crescendo Hard Fork on May 5, hinted at reduced participation from regular users.
This trend may reflect hesitation or uncertainty about the market’s current state. Fewer active addresses typically meant less demand or activity on the network.
This slowdown could mean people were unsure how the upgrade would affect things in the short term. It might also be due to concerns over larger economic issues.
The hard fork might not trigger the anticipated bullish momentum if address activity stagnates. This could lead to a muted post-upgrade response or price retracement.
Conversely, reduced on-chain activity might indicate silent accumulation behind the scenes. Network usage could rebound strongly after the Crescendo Hard Fork launch takes effect.
If post-fork features like finality and infrastructure scaling gain traction, they could drive new address growth. This resurgence might support long-term optimism for Kaspa.
Meanwhile, the divergence between price and activity raises critical questions about its future trajectory. The key challenge lies in reviving interest after the protocol transition.