- KAITO surged over 7%, trading in the $1.47 range.
- Daily trading volume soars by more than 67%.
The broader crypto market is fluctuating without a decisive rally. Bitcoin and Ethereum remain under prolonged bearish pressure. However, KAITO has managed to climb 7.99%.
In the early hours, KAITO was trading within the range of $1.30. Eventually, the bullish wake pushed the asset to climb toward the $1.58, surpassing the crucial $1.39 and $1.53 levels.
At the time of writing, KAITO traded at $1.47, with its market cap reaching $353 million. The asset’s daily trading volume has jumped to $311 million. Particularly, during this period, the market saw a liquidation of $2.09 million in KAITO.
KAITO has plunged by over 13% in the last seven days. The asset opened the week trading at $1.68 and climbed to its weekly high of $1.75. Later, the bears took charge with the potential to pull the price back to $1.28 range.
What is Ahead for KAITO After its Recent Surge?
A prolonged bearish turn could invite substantial risks to the asset. The price of KAITO might fall back to the $1.36 level. Maintaining this trading zone is crucial to avoid more downside and spark a potential rebound.
An upside correction might open the gate to new highs. KAITO could bring in a retest in between the notable price zone between $1.59 and $2. Sustained bullish outlook can trigger the asset to aim above the mark.
The Moving Average Convergence Divergence (MACD) line and signal line of the asset is positioned below the zero line. This crossover indicates the strong bearish momentum within the market.
Besides, the Chaikin Money Flow (CMF) indicator of KAITO is found at -0.01 suggests that neither buyers nor sellers are in control. Meanwhile, its daily trading volume has surged by over 67%.
The Bull Bear Power (BBP) value of 0.0869 signals a slight bullish tilt. KAITO’s daily relative strength index (RSI) settled at 50.10 infers a neutral market condition, that the asset is neither overbought nor oversold.
Disclaimer: The opinion expressed in this article is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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