KAIA, the native token powering the high-performance Kaia blockchain, is today’s top gainer. The altcoin has been up 12% in the past 24 hours and reached its highest price in 18 days.
The sharp rally has printed the tallest green candle in over two weeks, signaling strong upward momentum.
KAIA Rallies Double Digits as Trading Volume Tops $100 Million
As of this writing, KAIA is trading at an 18-day high of $0.119. Its double-digit rally has been accompanied by a surge in daily trading volume, up 920% over the past day, and sits at a multi-month high of $62 million.
When an asset’s trading volume rises significantly alongside its price, it signals that the move is backed by strong conviction from market participants. High volume during an uptrend often reflects increased buying pressure and broad participation, both signs of a healthy rally.
This trend increases the likelihood of a sustained KAIA rally as more liquidity supports continued price action.
Furthermore, the altcoin trades decisively above its 20-day Exponential Moving Average (EMA), a key trend suggesting bullish sentiment may continue to drive prices higher. As of this writing, the key momentum indicator forms dynamic support below KAIA’s price at $0.111.
The 20-day EMA measures an asset’s average price over the past 20 trading days, giving weight to recent prices. When price trades above the 20-day EMA, it signals short-term bullish momentum and suggests buyers are in control.
KAIA Hovers Below Breakout Zone: $0.15 Retest or Pullback to $0.106?
At its current price, the altcoin trades just below the resistance level formed at $0.124. If current demand levels are sustained, KAIA could break above this price zone, flip it into a support floor, and be on track to retest $0.151, a level not seen since February.
However, if profit-taking rockets, the KAIA token could break below the dynamic support offered by its 20-day EMA and plunge to $0.106.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Read the full article here
