Kaya ($KAIA
) The original token supporting the high-performance Kaya blockchain is the highest-gaining cryptocurrency today. The altcoin has risen by 12% in the last 24 hours and reached its highest price in 18 days.
The sharp rise printed the longest green candle in over two weeks, indicating strong upward momentum.
Kaya (KAIA) rises double digits with trading volume exceeding $100 million.
At the time of writing this report, Kaya (KAIA) is trading at its highest level in 18 days at $0.119. Its double-digit rise has been accompanied by an increase in daily trading volume, up 920% over the past day, stabilizing at its highest level in several months at $62 million.
Price/Trading Volume for Kaya (KAIA).
When the trading volume of the asset significantly increases alongside its price, it indicates that the movement is supported by strong conviction from market participants. High volume during an upward trend often reflects increased buying pressure and broad participation, both signs of a healthy rise.
This trend increases the likelihood of continued gains for Kaya (KAIA) as high liquidity supports the ongoing price movement.
Moreover, the altcoin is trading decisively above the 20-day Exponential Moving Average (EMA), a key trend indicating that positive sentiment may continue to drive prices higher. At the time of writing this report, the main momentum indicator is providing dynamic support below the price of Kaya (KAIA) at $0.111.
The 20-day Exponential Moving Average for Kaya (KAIA).
The 20-day Exponential Moving Average measures the average price of the asset over the past 20 trading days, giving weight to recent prices. When the price trades above the 20-day Exponential Moving Average, it indicates positive short-term momentum and suggests that buyers are in control.
Kaya (KAIA) hovers below the breakout zone: Re-test at $0.15 or a pullback to $0.106?
At its current price, the altcoin is trading below the resistance level formed at $0.124 directly. If current demand levels persist, Kaya (KAIA) could break through this price area, turning it into a support level, and be on its way to re-test $0.151, a level not seen since February.
Price Analysis for Kaya (KAIA).
However, if profit-taking increases significantly, the Kaya (KAIA) token may drop below the dynamic support provided by the 20-day Exponential Moving Average and decline to $0.106.
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