The cryptocurrency market is showing signs of recovery after a sharp sell-off, with KAITO rising over 13% in the last 24 hours, now trading around the $2.00 mark.
Ascending Triangle Breakout
On the 2-hour chart, KAITO had been consolidating within an ascending triangle pattern after rejecting an all-time high of $2.12 on February 21. The price repeatedly tested the triangle’s support trendline. After bouncing off $1.60 support, KAITO successfully broke through the ascending resistance at $1.95 today, reaching a new high of $2.15 before slightly retreating to $2.03—possibly retesting the breakout level.
MACD Indicator Analysis
The MACD indicator on the 2-hour chart also shows a bullish crossover, with the MACD line crossing above the signal line. Additionally, the histogram is turning green, suggesting increasing bullish momentum. If this trend continues, it will further validate the breakout and strengthen the case for higher price targets.
Outlook and Next Steps
If KAITO manages to move above the $2.12-$2.15 resistance zone, it could confirm the breakout and lead to a potential rally toward the $2.50 and $2.75 psychological levels, representing a 30% increase from the current price. Traders and investors should closely monitor whether the price sustains above the breakout zone. For now, bulls are in control, and KAITO remains one of the top altcoins to watch in the coming days.
KAITO is showing strong upward momentum by breaking key resistances. Closely monitoring support above $2.15 could indicate further upward movement.
