Kaito has quietly formed an upward trend line. Recently, the trading volume has decreased and the rebound strength has weakened, both occurring above the green core chip area. Although it may enter a supply-dominant phase in the future, the expectation for price increase remains.

The official LaunchPad update for July has not been released, and there will be a significant unlock after August 20th. It is currently difficult to determine whether these large unlocks have already been hedged in the futures market. The total futures open interest is nearly 80 million dollars, with at least 40 million dollars in short positions, while the unlock supply is less than 10 million dollars. Unlocked chips may have already completed futures hedging.

It is essential to pay close attention to the green support level; an initial rebound does not guarantee future performance, and a steady price increase along the trend line is a more reliable signal. The more negative voices in the market regarding Kaito, the greater the potential upward price space.