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10% Price Pop and 378% Volume Surge for KAIA, Will the Run Go the Distance?

thenewscrypto.com

4 hour ago

10% Price Pop and 378% Volume Surge for KAIA, Will the Run Go the Distance?

KAIA jumped 10%, now trading around $0.15. Daily trading volume exploded by over 378%. With the neutral market sentiment in the market, a spike of over 1.66% has sent the market cap to $3.92 trillion. The brief bullish pressure has prompted the crypto tokens to trade with conflicting signs, lighting both the green and red candlesticks. In this market condition, the assets, like Bitcoin (BTC) and Ethereum (ETH), are trading at $113.2K and $4.5K. In the digital asset space, Kaia (KAIA) has posted a solid gain of over 10.85% in the last 24 hours. The asset opened the day trading at a low range of $0.1422. With the midday trading, the KAIA price has chosen to climb, reaching a high of $0.1659. It is crucial that the asset has broken the key resistance levels between $0.1427 and $0.1654 to confirm the uptrend. Notably, KAIA’s market cap is settled at $964.8 million, with the asset traded within the $0.1580 mark. In addition, the asset’s daily trading volume has exploded by over 378%, accordingly reaching $108.89 million, as per the CoinMarketCap data. What is the Next Price Move for KAIA? KAIA’s technical indicator analysis displays that the Moving Average Convergence Divergence (MACD) line crossed over the signal line, indicating a bullish crossover — prices could rise. Besides, the asset’s Chaikin Money Flow (CMF) indicator value resting at 0.18 is clearly positive, suggesting a moderate buying pressure in the market. Also, it shows a steady demand, and the money is flowing into the asset. KAIA chart (Source: TradingView) Moreover, the ongoing positive outlook might trigger the KAIA price to rise and find the nearest resistance at the range of $0.1586. Gradually, with the upside pressure, the potent bulls could push the golden cross to take place and drive the price toward a high above $0.1592. Assuming the price momentum of KAIA reverses, it might immediately fall and test the $0.1574 support. If the asset fails to hold this level, it could likely strengthen the bears, and invite the death cross may unfold, pulling the price back to its recent low below the $0.1568 mark. KAIA chart (Source: TradingView) Furthermore, the asset’s daily Relative Strength Index (RSI) is positioned at 65.09, implying its bullish territory, which might be leaning toward the overbought zone if it goes up. Notably, this hints that buyers are in control. KAIA’s Bull Bear Power (BBP) reading found at 0.0154 is positive, signalling that the bulls are barely in control within the asset’s market, but not a decisive push.

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