Kaspa Price Tests Falling Wedge Breakout Threshold

Kaspa's price has been consolidating around the $0.02575 support since early February, but it's now pressing against a critical level that could decide its next major move.

The token is trading at $0.02894 and has flipped the 50-day EMA, which sounds bullish, but there's a catch: price is sitting close to the upper edge of a long-standing falling wedge.

Kaspa is a proof-of-work asset that claims its real-time decentralization approach can achieve the security embodied by Bitcoin's proof-of-work in seconds, not hours. However, the chart tells a different story.

Despite the broader recovery, Kaspa has not broken out yet and has mostly moved sideways around its lower support since February, drifting towards the wedge's upper boundary.