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- The KAIA price surged over 30% intraday, representing massive buying interest.
- KAIA still has considerable room for growth toward $0.5000.
Kaia (KAIA) crypto has rocketed to an uncharted trajectory, soaring more than 90% in a week. Since its inception, the altcoin has soared more than 200%.
The KAIA price could continue to outperform the market. That’s because altcoin has flashed a strong buy signal due to increasing investor participation. This week, sharp accumulation was noted, triggering a sharp price rally.
The altcoin has approached the $0.4000 mark. With this, the KAIA crypto does have room for growth even though close to 90% of the supply is in profits.
KAIA’s price traded at $0.3594 after noting a 30.20% rally in the last 24 hours. The altcoin made a massive bullish engulfing candlestick in yesterday’s session. It noted a follow-buying streak in the previous seven days.
Its market cap surged to $2.12 Billion with a total supply of 5.88 Billion. The pair of KAIA/BTC was at 0.000000377 BTC.
Analyst Opinion on the KAIA price: Bullish or Bearish
A recent tweet by Crypto Tony said the recent launches were very profitable. The best strategy is to book profits as they go through.
In this manner, he advised investors to book a portion of their profit. That’s because the altcoin offered a 90% return in just one week and appeared unpredictable on the chart.
The KAIA price could break the recent ATH per the Fibonacci extension levels. Furthermore, it could reach the 1.38% zone to $0.500 in the coming days.
Being a powerful public blockchain that makes Web3 easily accessible to millions in Asia, it looks attractive. Notably, Kaia is integrated with KakaoTalk and LINE, which have over 250 million users.
This allows seamless Web3 experiences like connecting, creating, and collaborating directly within these popular messaging apps. That offers the ease and speed of Web2 while exploring the Web3 ecosystem.
KAIA Price Prediction: Is the Rally Set to Persist?
The KAIA price prediction represented a bullish outlook. The altcoin has witnessed a solid breakout rally and surged more than 90% in a week.
KAIA’s Chaikin Money Flow (CMF) readings highlighted the substantial accumulation that the altcoin currently enjoys. As of this writing, the indicator was in an uptrend above the zero line at 0.46.
KAIA’s Relative Strength Index (RSI) is at 77, confirming the current bullish sentiment trailing the token. A positive crossover was noted, conveying heightened buying momentum on the chart.
Data from Coinglass highlighted that the Open Interest (OI) has risen over 121% to $34.56 Million. That reflected sharp, long additions in the last 24 hours.
Additionally, the long/short ratio represented a positive outlook. Over 53% or $232k worth of long positions have liquidated versus $60k of short liquidations in the past 24 hours.
This disparity represented a massive demand for long contracts, and further upside could be seen in the coming sessions. The immediate support zones for the KAIA price were $0.3500 and $0.3380. At the same time, the resistance zones were $0.3670 and $0.3800.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
