KAITO's price climbed to $1.05 on July 24, having surpassed all key daily EMAs and crossed the key $1.00 mark. However, its daily Relative Strength Index (RSI) has soared to 77.14, signaling that the asset is heavily overbought and could be due for a pullback.
The broader cryptocurrency market remains cautious, with the Fear & Greed Index dropping to 28 and the total market capitalization declining by 1.15% within 24 hours. Bitcoin dominance stays strong at 56.7%, pointing to capital favoring major cryptocurrencies instead of smaller tokens.
On-chain activity presents mixed signals. Uniswap V3 reports a 30-day fee increase of 137.39%, showing solid decentralized exchange engagement. Yet, this enthusiasm hasn't translated into widespread risk appetite, leaving KAITO's steady hold above $1.04 as an indicator of relative strength or possibly marking the end of a buying spree.
The daily chart confirms a clear uptrend: KAITO trades well above the 20-, 50-, and 200-day EMAs, with the current price nearly 76% above the 200-day average. Momentum indicators like the MACD remain positive but show signs of slowing momentum, while the tight Bollinger Bands on shorter timeframes hint at an imminent move.
