KAITO Price Prediction Feb 22: Will $1.80 Resistance Break?

Tech

KAITO Price Prediction Feb 22: Will $1.80 Resistance Break？

• KAITO holds $1.65 as support, signaling potential for another rally toward $1.80.
• Short traders faced higher losses, reinforcing bullish sentiment in KAITOs market.
• Derivatives data shows stable activity, with a long/short ratio slightly favoring bulls.

The KAITO token airdrop on Base ignited significant price action, with the token leaping 41.49% in the last 24 hours. As of press time trading at $1.65, KAITO KAITO initially dipped before quickly bouncing back, showing strong market interest.

This price movement points to upward momentum, but critical resistance and support levels will dictate its next move. Meanwhile, derivatives market data indicates stable trading activity, with short sellers experiencing larger liquidations.

KAITO Price Action and Trend Analysis

KAITO started trading near $1.12, briefly slipping into negative territory before buyers stepped in to support the price. A strong push upward ensued, lifting the token above $1.80 before a correction.

The pullback has brought KAITO to its current price of $1.65, where it looks to be settling. If the price stays above this level, it could establish new support and power further gains.

Crucial Support and Resistance Zones

The price has established key support zones at various levels. The $1.12 mark remains the strongest support, as it marked the lowest point before the rebound.

Another critical support is $1.40, where price consolidation occurred before the continued climb. Furthermore, $1.50 has become a psychological level, providing short-term support during the recent pullback.

Resistance Levels and Potential Rallies

On the upside, $1.80 stands as the primary resistance, marking the highest price point reached before sellers drove the price down.

Another resistance level is $1.70, where the token briefly paused before its continued rise. If KAITO holds $1.65 as support, it could pave the way for another rally toward $1.80 and beyond.

Market Sentiment and Liquidation Data

Coinglass data indicate that KAITOs derivatives market remains active, with a trading volume of $5.88 billion and an open interest of $85.52 million. The long/short ratio stands at 1.029, signaling a slight bullish sentiment.

Notably, liquidation data shows that short sellers faced more losses. In the past 24 hours, total liquidations reached $23.79 million, with $13.82 million from shorts and $9.97 million from longs.

Recent Liquidations Favor Bulls

Over the last 12 hours, short traders lost $9.89 million, while long traders saw $5.91 million in liquidations.

The four-hour and one-hour liquidation figures also reflected higher losses for shorts, at $3.42 million and $1.96 million, respectively. This data indicates that traders betting against KAITOs rise faced significant losses, reinforcing bullish momentum.