KAIA Drops 10.7% Amid Bitcoin Losses Despite Bullish Trend

KAIA, a cryptocurrency, experienced a notable decline of 10.7% over two days, despite its recent bullish momentum. The cryptocurrency had been on an upward trajectory, breaking above the $0.13 local resistance on June 9 and gaining 35.6% in a single day. This bullish market structure break initiated an upward trend for KAIA. However, the recent pullback from $0.196, influenced by Bitcoin's losses, has affected KAIA's trajectory.

The cryptocurrency market is expected to remain volatile in the coming week, with multiple key events scheduled. Despite the bearish sentiment, KAIA has maintained its bullish outlook. Traders should monitor the cryptocurrency closely in the coming days. The 1-day chart highlights a bullish order block at $0.15, which the price may retest in the near future. The selling volume has been minimal, as indicated by the On-Balance Volume (OBV) indicator, which has trended sharply higher, suggesting strong demand.

The Awesome Oscillator and moving averages also indicate bullish momentum, with no bearish divergence displayed. The next resistance level above $0.196 is at $0.266, while the $0.15 and $0.141 levels are key supports to watch. The 1-month liquidation heatmap shows a build-up of short liquidations at $0.202, above the local high. The $0.144 and $0.12 levels are the next liquidity pockets to the south. The $0.144 level aligns well with the $0.141 support level, and the 20-day moving average is at $0.147, just below the bullish order block. This confluence of factors suggests that the $0.14-$0.15 region could present a buying opportunity for KAIA, with a high chance of a bullish move from there.