Kaito Crypto rose 41.5% on 27 February, surpassed the wider crypto market, which fell by 4.1% last day.
According to data from crypto.news, Kaito (Kaito) rose to an intraday high of $ 2.52, which resulted in market capitalization at the time of the press of $ 440 million to more than $ 600 million. The price rally took place in a trade environment with a high volume, with the daily trade volume that doubled in the past day and achieved more than $ 1.97 billion.
Kaito’s Rally followed a jump in the question among his derived traders. Coinglass facts shows an increase of almost 66% in the open interest in the Kaito Futures market, which achieves a record high of $ 192 million.
At the same time, the weighted financing percentage of negative territory bounces back, which suggests that traders are becoming more optimistic, possibly eye -win options.
The AI-based Altcoin also received grip after Ai Chip Giant Nvidia posted Bullish Q4 results, with its turnover by 12% compared to previous quarter and 78% on an annual basis. AI-related cryptos usually tend to ride the hype of Nvidia. In addition to Kaito, Myshell (Shell) jumped 27%and carv (carv) rose 68%.
In the meantime, whales have also shown interest in token. A non -geidified whale portion Burden $ 1.39 million back WORTH of Kaito, according to data from Arkham. The same whale sold more than 110,000 airdropped Kaito -Tokens last week.
Whale activity is often seen as a bullish signal by investors, who have probably added fuel to the current meeting.
Kaito Price Analysis
Multiple technical indicators have marked bullish signals. On the 4-hour Kaito/USDT price diagram, Kaito is higher highlights and lower lows, which suggests that the purchasing pressure is considerably higher than the sales pressure.
It has also broken the past at $ 2.1, which does not surpass it three times in February.
The Aroon Up indicator at 100% and Aroon with 21.43% confirms a strong purchasing pressure, indicating a dominant upward trend. In the meantime, the relative strength index at 82 for the second consecutive day, which reflects a long -term bullish momentum, often a sign of more potential profit for us.
Market commentators have also shared a bullish prospect. According to For Trader Team Lambo hit lists, Kaito has broken from a bull flag pattern and has set a price target of $ 3, on condition that it first retreats to $ 2. If Kaito reaches $ 3, he expects it to climb even higher, making it possible to hit $ 5 in the long term.
Fellow Trader Cryptobull_360 predict A similar price target and notes that the Altcoin is broken from a symmetrical triangular pattern, another bullish signal on the 1 -hour graph.
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