• KAITO rallies over 48% to a record high of $2.92.
  • Daily trading volume soars by more than 253%.

Trapped in a bearish chokehold, crypto assets drown in red, with Bitcoin (BTC) lagging behind the $100K milestone. However, KAITO bucks the trend, rallying over 48.31%. 

The upside correction triggered KAITO to hit a new all-time high at the 2.92 range, surpassing the crucial $2.53 and $2.79 resistance levels. In the early hours, the asset traded at the lowest price of $1.91. 

KAITO Defies the Bears with a 48% Jump image 0 KAITO price chart ( Source: CoinGecko )

At the time of writing, KAITO traded at $2.84, with its market cap reaching $699 million. Moreover, the daily trading volume of the asset has jumped to $2.12 billion. Particularly, during this period, the market saw a liquidation of $15.56 million in KAITO. 

The price of KAITO has surged by over 145% in the last seven days. The asset opened the week trading at a low of $0.91, and the bulls took charge and propelled the price to mount towards the current trading level. 

Will KAITO’s Momentum Hold Strong?

If KAITO clears the $2.86 range, it could open the door to a new ATH. The extended upside correction could solidify the bullish price expansion. Consequently, the asset could aim for the next significant price zone between $3.15 and $3.23. 

On the flip side, a bearish turn could spell substantial risks. The price of KAITO would likely backpedal to the $2.36 level. Sustained pressure under $2.15 might force the asset to revisit its past support level near $2.03 or extend losses. 

The Moving Average Convergence Divergence (MACD) line of KAITO has crossed over the signal line, indicating a bullish crossover. The recent price movements are stronger than past trends, and the asset is building positive momentum. 

KAITO Defies the Bears with a 48% Jump image 1 KAITO chart (Source: TradingView )

Besides, the Chaikin Money Flow (CMF) line at 0.06 suggests bullish money flow into the asset with mild buying pressure in the market, though the strength of the trend is not strong. Meanwhile, KAITO’s daily trading volume has surged by over 253%.

The Bull Bear Power (BBP) of 0.7045 signals that the buyers have the upper hand, as the bulls are pushing prices higher. KAITO’s daily relative strength index (RSI) settled at 79.03 infers the overbought condition, with the potential for a price correction or pullback.

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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