The KAIA currency has experienced a long downward trend lasting eight months, reflecting strong selling pressure 💹. Upon reaching a low of $0.05, the currency stabilized before beginning a remarkable recovery, pulling itself out of the long bearish channel 📈✨.
The currency rose from $0.049 to a two-month high of $0.084 before slightly retreating. As of the time of writing this report, KAIA is trading at $0.079, thus recording an amazing gain of 39.7% over 24 hours ⚡.
Trading volume also surged by 430% to reach $106 million, while the market capitalization surpassed the $500 million mark 💰.
🔍 What supports KAIA's rise?
🪄 The integration of the KAIA wallet into the Web3 experience
In a strategic move, the KAIA wallet was integrated into a modern Web3 game that allows users to pay transaction fees without needing to directly hold the tokens ✨🎮.
This integration enhances the actual use of the currency within the network, providing a seamless experience for regular users, which supports demand and increases investor engagement with the currency 🌐💎.
💪 Buyers dominate the market
After KAIA dropped below $0.05, buyers intervened strongly, driven by demand for the currency and the expansion of its digital uses.
Data indicated that buying volume exceeded selling volume, creating a positive divergence in the market, which is considered a sign of accumulation and optimism among investors 🛡️📊.
📈 Futures activity
As KAIA continues to rise, futures contracts have seen intense activity, with trading volume significantly increasing and open interest clearly rising, reflecting capital inflow and increased participation from traders 💹🔥.
The long-to-short ratio also increased to 1.04, indicating investor optimism and reliance on long positions for potential profits.
⚡ Will the upward momentum continue?
As buyers continue to dominate the spot and futures markets, KAIA has managed to maintain key price levels.
The Relative Strength Index (RSI) recorded a bullish crossover and reached 70, reflecting buyers' dominance 💥.
The Directional Movement Index (DMI) showed a bullish crossover with the positive index rising to 48 and the negative index falling to 30.
📊 These indicators reflect the potential for continued upward trends, which could lead KAIA to target the $0.10 level, with resistance at $0.11.
⚠️ On the other hand, if the market experiences a sharp decline or if investors start to take profits, KAIA may return to the $0.06 level.
🏁 Conclusion
KAIA rose by 39.7% to reach a two-month high of $0.084, before slightly retreating to $0.079.
This rise was supported by buyers' intervention at key levels, driven by the integration of the KAIA wallet into an innovative Web3 experience, reflecting the strength of the current momentum and opportunities for continued upward movement 🚀✨.
