$KAITO

KAITO Fails to Reach $2 as Selling Pressure Overwhelms Upside Momentum

KAITO’s recent airdrop surprised many, sparking initial excitement. However, the token is now struggling to maintain user interest – a common problem seen with other airdrops. The altcoin has dropped 7% in the past 24 hours, highlighting short-term selling pressure, but is still up 60% since launch.

Currently, KAITO BBTrend is negative at -10.7, indicating continued bearish momentum, while ADX at 13.49 shows no clear direction. With the price fluctuating between potential support at $1.35 and resistance above $2, KAITO faces a crucial moment to either consolidate gains or continue a downward correction.

KAITO BBTrend Stable, but Negative

Currently, KAITO BBTrend is at -10.7, reflecting a sharp reversal after hitting an all-time high of 10.8 just yesterday.

This dramatic drop represents a shift from strong bullish momentum to negative territory in less than 24 hours, indicating increased selling pressure.

The rapid change suggests that bearish sentiment is taking over, as a BBTrend turn negative often signals the start of a downtrend.

With KAITO BBTrend hovering around -10 and -11 in the past few hours, continued weakness and the potential for a downtrend to continue is highlighted.