Crypto
KAS Price Slumps After Senate Failures to Advance Clarity Act
The price of KAS has fallen due to the market's reaction to the US Senate's failure to advance the Digital Asset Market Clarity Act.
The vote ended 49-50, falling short of the required 60 votes. As a result, KAS dropped below its 200-day EMA band and is now trapped between the 50- and 200-day EMAs.
This has led to increased selling pressure and regulatory uncertainty, causing the price to plummet towards its multiyear demand area at $0.025.
To regain a bullish structure, KAS needs to recover above the 200-day EMA band, which would open up upside targets near $0.053 and $0.075.