- KAIA is trading around $0.16.
- Daily trading volume has surged by over 79%.
The neutral market sentiment, with a loss of over 1.67% of the market cap, has triggered the crypto assets to trade on the downside, lighting the red candles. The largest assets, like Bitcoin (BTC) and Ethereum (ETH), hover at around $104.1K and $2.4K. Among the altcoins, Kaia (KAIA) has posted a surge of over 3.48% in the last 24 hours.
KAIA opened the day trading at a low of around $0.1514. With the midday trading, the price chose to move upward, driving it to a daily high of $0.166, breaking crucial resistance at $0.1548 and $0.1645. At press time, KAIA’s market cap is at $966 million, and it trades within the $0.1607 mark. Also, the asset’s daily trading volume has surged by over 79.58%, accordingly reaching $82.8 million.
In addition, KAIA has registered a 40.73% gain over the last thirty days. The asset’s monthly low was noted at the $0.10 range. Later, the bullish shift in the market triggered the price to hit a high of $0.17.
Can KAIA Keep Climbing?
KAIA’s ongoing bullish momentum could trigger the price to climb and likely test the nearby resistance at the range of $0.1622. Gradually, the upside price action might invite the potent bulls to push the golden cross to take place. The asset’s price may reach around the $0.1635 mark.
On the downside, if the price momentum of KAIA exhausts, it might plunge to its immediate support at the $0.1591 level. Assuming the asset’s failure to hold this support range, it could boost the bears, and the death cross may form, pulling the price back to a low below $0.1577.
Notably, KAIA’s technical analysis exhibits that the Moving Average Convergence Divergence (MACD) line is settled above the signal line. This generally suggests a bullish crossover in the market. Besides, the asset’s Chaikin Money Flow (CMF) indicator, resting at 0.07, indicates a mild buying pressure, with the money flowing into the asset.
Furthermore, the daily Relative Strength Index (RSI) value of the asset, positioned at 52.68, hints at neutral territory, neither overbought nor oversold. The Bull Bear Power (BBP) reading found at 0.0050 implies a slightly bullish momentum in the market.
Highlighted Crypto News
Bitcoin (BTC) Price Check: Can Bulls Defend the $104K Level?
