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Cashaa CAS Breakout Analysis – CAS Trading in Active Uptrend with +27% Gains in a Week
Cashaa CAS is trading in active uptrend here like many other altcoins. The Cryptocurrency CAS just went up +17% in a single day and surges over +27% in a week. Let’s take a quick look at CAS, price analysis, and possible reasons for the recent breakout.
What is Cashaa?
Launched in October 2018, Cashaa aims to revolutionize the fintech space by banking the global crypto economy. Cashaa is the world’s first global banking platform that enables the seamless integration of both fiat and cryptocurrency within one account dashboard. In addition to the Unicas
the venture, Cashaa will be rolling out its services for personal users in the US, UK, and Europe over the next 3 months.
Cashaa claims to be the largest crypto-friendly neo-bank based in the UK, providing services to hundreds of crypto businesses around the world. CAS powers the Cashaa banking ecosystem. As the native coin of the Cashaa platform, CAS has multiple utilities such as speedy application processing, discounted set up fees, cheaper international wire cost, rebate in exchange, and transaction fees, with exclusive crypto-friendly banking services restricted for CAS holders.
CAS Quick Stats
| SYMBOL: | CAS |
| Global rank: | 540 |
| Market cap: | $15,080,063 AUD |
| Current price: | $0.0252 AUD |
| All time high price: | $0.2588 AUD |
| 1 day: | +17.04% |
| 7 day: | +27.55% |
| 1 year: | +256.02% |
CAS Price Analysis
At the time of writing, CAS is ranked 540th cryptocurrency globally and the current price is $0.0252 AUD. This is a +27.55% increase since 1st January 2021 (7 days ago) as shown in the chart below.
In the past week, there was a strong rise in Bitcoin, Ethereum, and other Altcoins. As a result, Cashaa CAS also formed strong support near $0.0154 AUD before starting a fresh increase against the BTC pair.
Here we also have the “W” pattern with a higher low just as looking at it before starting a strong increase, there was a break above a crucial contracting triangle with resistance near $0.0215 AUD on the daily chart of the CAS/USDT. The pair gained pace above the $0.0240 AUD and $0.0260 AUD resistance levels.
“W pattern is a price pattern, also called Double Bottom. This pattern, when drawn it looks like the W and this is why it is called as W pattern. Sometimes patterns look like W but it is not the exact W pattern and these patterns are called Semi-W patterns.”
What do the technical indicators say?
The Cashaa CAS TradingView indicators (on the 1 day) mainly indicate CAS as a buy, except the Oscillators which indicate CAS as a neutral.
So Why did CAS Breakout?
The recent rise in Bitcoin over +200% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout. Another reason could be the whales, secretly stacking up CAS to their portfolio for this Altcoins rally. It could also be contributed to some of the recent news of Partnership with Bitbns.
Recent Cashaa News & Events:
- 27 February 2020 – Testnet Smart Contracts
- 16 July 2020 – Video-on-Demand
- 08 November 2020 – Mainnet Smart Contracts
- 06 January 2021 – Partnership with Bitbns.
Where to Buy or Trade CAS?
Cashaa has the highest liquidity on Binance Dex Exchange so that would help for trading CAS/BNB pair. However, you can also buy CAS from different exchanges listed on Coinmarketcap.
Author
Malik Junaid
Malik is a skilled writer with a background in Software Engineering. His interests are blockchain, cryptocurrency trading and market analysis.
