KAITO has surged nearly 50% over the past two days, emerging as one of the top performers in the cryptocurrency market. The rally was fueled by the rollout of significant updates, including improvements to the Kaito Dune dashboard and the launch of the Yapper Leaderboard, which have seemingly bolstered market sentiment. However, the current price action suggests that the token is approaching a critical resistance level formed by its launch-day open.
Much more to come – with Kaito Earn, Kaito Connect v2 and our Capital Launchpad in the works!https://t.co/IxwBzynXDu
— Kaito AI 🌊 (@KaitoAI) May 6, 2025
KAITO Breaks Out With Volume
After hitting an all-time high of $2.92 on February 27, KAITO’s price fell under a descending resistance trend line, shedding nearly 75% of its value. On April 17, the token managed to break above the trend line, initiating a new bullish structure characterized by a higher low on May 4 and a higher high on May 9. The breakout was accompanied by a surge in trading volume, marking the highest levels seen in 30 days and breaking a downtrend that began in March.
Technical indicators, including the Relative Strength Index (RSI) and the Moving Average Convergence/Divergence (MACD), support the bullish narrative, with the RSI remaining above 50 and the MACD maintaining positive momentum. Currently, KAITO trades inside the $1.20 horizontal resistance area. If a breakout occurs, the next target levels could be the Fibonacci and horizontal resistance at $1.80.
Also Read: KAITO Price Soars 33% After Coinbase Listing – Is a New All-Time High Coming?
Will KAITO Reach $1.40?
The daily timeframe analysis presents a bullish outlook for KAITO. The token recently broke out from an ascending parallel channel, often indicative of an impulsive movement. The sub-wave count analysis suggests that the ongoing uptrend may still lack the fifth and final wave to the upside.
However, the $1.20 resistance level has proven to be a formidable barrier, with the presence of a local high and upper wick where waves A and C exhibit similar lengths. Despite this, if KAITO manages to close above $1.20, the projected price targets are set at $1.40 and $1.80, respectively, based on the 1.61 Fibonacci extension level.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
