Kaia, the native token that powers the high-performance Kaia blockchain, is today’s top gain. Altcoin has grown by 12% in the last 24 hours, reaching its highest price in 18 days.
The sharp rally prints the tallest green candle in over two weeks and shows strong upward momentum.
With trading volume of $100 million, Kaia Rallies double digits
At the time of writing, Kaia is trading at $0.119 at an 18-day high. That double-digit rally comes at a multi-monthly high of $62 million, accompanied by a surge in daily trading volume, which has increased 920% over the past day.
A large increase in the volume of an asset’s trading volume along its price indicates that the move is supported by strong convictions from market participants. The masses during the uptrend often reflect increased purchasing pressure and widespread participation.
This trend increases the possibility of sustained Kaia gatherings, as more liquidity supports ongoing price action.
Additionally, Altcoin will trade decisively the 20-day index moving average (EMA). This could be a key trend that suggests bullish sentiment that will continue to raise prices. At the time of writing, the key momentum indicator forms dynamic support below the price of Kaia to under $0.111.
The 20-day EMA measures the average price of assets over the last 20 days, giving weight to recent prices. When prices exceed the 20-day EMA, they show short-term bullish momentum, suggesting that buyers are in control.
Kaia is under the breakout zone: Will a $0.15 retest or pullback be $0.106?
At current prices, Altcoin is trading just below the resistance level formed at $0.124. If current demand levels are maintained, Kaia can go above this price range, flip it over to the support floor and get back on track to retest $0.151, a level not seen since February.
However, for profit-making rockets, the Kaia token could fall below the dynamic support offered by the 20-day EMA, potentially hitting $0.106.
Disclaimer
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