KAITO's Bullish Momentum Falters as Price Drops 7%

KAITO Fails to Hit $2 After Selling Pressure Overtakes Bullish Momentum

KAITO, a cryptocurrency that recently gained attention through an airdrop, has struggled to maintain user interest, with its price down 7% in the last 24 hours. Despite a 60% increase since its launch, the altcoin is now facing a critical moment as selling pressure overtakes bullish momentum.

Technical indicators suggest a bearish trend for KAITO. The KAITO BBTrend is currently at -10.7, indicating a sharp reversal from its all-time high of 10.8 just yesterday. This dramatic decline signals increasing selling pressure and a potential continuation of the bearish trend. Additionally, the KAITO ADX at 13.49 suggests a lack of clear trend direction, with price movements fluctuating between potential support at $1.35 and resistance above $2.

KAITO reached an all-time high near $2 on February 21 but began to correct downward shortly after. If the correction continues, KAITO could test the support level at $1.35, a crucial point to maintain its bullish structure. However, if the support fails, KAITO could face a deeper decline, potentially dropping below $1.2 or even as low as $1.1, reflecting increased selling pressure and bearish sentiment.

To reverse the current correction and surge above $2, KAITO would need to establish a strong uptrend and successfully break the resistance at $2.12. This would pave the way for a new all-time high, with the next target at $2.2. However, with the current bearish signals and lack of clear trend direction, KAITO's price trajectory remains uncertain.