$KAIA #cvtx

#KAIA Chart Analysis

KAIA has recently risen close to TP#2, as mentioned a few days ago.

From an Elliott Wave perspective, it seems likely to reach the level where the 5th wave (TP#3) will be #completed soon.

On the positive side, KAIA is currently only available for #spot trading, with no futures trading yet.

This means there are no short positions in the market. If the sell-side supply can be absorbed, KAIA could potentially rise well beyond the TP#3 target I anticipated.

However, I believe some traders will likely take profits around TP#3.

If the buying momentum continues to push prices higher, it’s hard to predict how far it could go, but a resistance zone will likely form.

To reiterate, it wouldn’t be surprising if a significant rally occurs suddenly.

Have a great day!

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