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KAITO is holding $1.65 at $1.80 as support, indicating potential for another rally.
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Short traders suffered higher losses, reinforcing the bullish sentiment on KAITO’s stock market.
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Data on derivatives shows stable activity with a slight favoring of bulls in the long/short ratio.
KAITO tokens were airdropped on Base, causing a significant price increase. The token jumped 41.49% over the last 24 hour period. KAITO KAITO was trading at $1.65 as of press time, showing a strong market response.
The price movement indicates upward momentum. However, the next move will be determined by critical resistance and support levels. The data from the derivatives market shows stable trading activity with shorter sellers experiencing greater liquidations.
KAITO Price Action and Trend Analysis
KAITO began trading at $1.12 and briefly fell into negative territory, but buyers stepped in and supported the price. The token was then pushed upwards, reaching $1.80 and above before a correction.
The pullback brought KAITO down to its current $1.65 price, where it appears to be settling. If the price remains above this level, then it could establish new support for further gains.
Related: Launch of KAITO Tokens Airdrop on Base: Price Impact ‘Claim fee’ in Focus
Zones of Critical Support and Resistance
The price has established key levels of support at different levels. The $1.12 level remains the strongest support as it was the lowest point before the recovery.
A critical support level is $1.40. This is where the price consolidation took place before the continued rise. In addition, $1.50 is a psychological support level that has provided short-term support in the recent pullback.
Resistance Levels and Possible Rallies
On the upside, $1.80 represents the primary resistance and the highest price reached before sellers drove down the price.
A $1.70 resistance level is another where the token briefly paused, before continuing its rise. If KAITO can hold $1.65, it could pave a way for a rally to $1.80 or beyond.
Market Sentiment Data and Liquidity Data
Coinglass data show that KAITO’s derivatives market is active. The trading volume is $5.88 billion, and the open interest is $85.52 millions. The long/short is 1.029, which indicates a slight bullish mood.
Liquidation data shows that shorts have suffered more losses. In the last 24 hours, liquidations totaled $23,79 million. Of this, $13.82 million came from shorts, and $9.97 from longs.
Recent Liquidations Favor Bulls
In the last 12 hour, short traders have lost $9.89 millions, while long traders have seen $5.91 million liquidations.
RelatedAI copy trading arrives: Woo X launches “Man vs. Machine”.
The liquidation figures for the four-hour period and one-hour period also showed higher losses, with $3.42 and $1.96 millions, respectively. This data shows that traders who bet against KAITO’s growth suffered significant losses, which reinforced bullish momentum.
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