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- $KAIA rallies 19% to hit $0.12.
- Daily volume explodes by over 1,750%.
A brief uptick of 1.68% of the crypto market cap has pushed the assets to the green zone. With the largest assets, Bitcoin and Ethereum formed a brief green candlestick. In the meantime, Kaia ($KAIA) has registered a surge of over 19.17% in the last 24 hours.
In the early hours, $KAIA traded at the bottom range at $0.1066. Midday trading of the asset, with the bullish encounter has driven the price to ascend to a daily high of $0.1286. The asset has broken the crucial resistance at $0.1148 and $0.1207 zones.
$KAIA, with its market cap at $772 million, is currently trading at the $0.1279 mark. The asset’s daily trading volume has skyrocketed by over 1756%, reaching $122 million. Notably, the market has experienced a $901.31K liquidation of $KAIA, as per Coinglass data.
The asset has recorded a 14% increase over the last seven days. $KAIA’s weekly low is marked at around $0.1021. And the bullish pressure has pushed the price to its current trading level.
Will $KAIA Hold Its Ground or Fade Out Fast?
With the bullish sentiment in the market, $KAIA has solidly gained in double digits in the recent session. The asset could ascend toward the range of $0.13. An extended upside correction might trigger the golden cross to unfold, and likely send the asset’s price above $0.1330.
Assuming a reversal of $KAIA, the price might steadily drop to its support at around $0.1262. Losing this support range could allow the bears to gain strength, inviting the death cross to unfold. It may pull the price to its former low below the $0.1240 mark.
Furthermore, the Moving Average Convergence Divergence (MACD) line of the asset has crossed above the signal line. This suggests a sturdy bullish momentum in the market, with more upward movement underway. Besides, the Chaikin Money Flow (CMF) indicator of $KAIA, found at 0.60, indicates strong buying pressure and bullish sentiment, and the money is flowing into the asset, with the potential for further uptrend.
In addition, $KAIA’s daily Relative Strength Index (RSI) value, positioned at 85.22, points out that the asset is in overbought territory. It could be due for a pullback or correction. The Bull Bear Power (BBP) reading at 0.0274 signals very mild bullish pressure in the market.