@Kaia ChainThe long-term KAIA trend is likely bullish, with a potential increase to $1.35 awaiting.
However, the short-term count indicates that KAIA could fall slightly before resuming its upward movement. In any case, an eventual increase above $1 is expected@Kaia Chain #Debate2024 #RideTheKaiaWave #BinanceAlphaTop5 The daily frame wave count shows that KAIA started a five-wave increase in November. If this is the case, the price has likely finished wave five, which extended and has 1.61 times the length of waves one and three combined.
The five-wave structure ended with a high of $0.415.
If this is the case, KAIA is now correcting inside an A-B-C structure, which could end at the 0.5-0.618 Fibonacci retracement support level. Since the price has already reached the 0.5 Fibonacci level in the form of a long lower wick, the low point of the correction may have already been reached.
However, KAIA will likely consolidate before eventually resuming its upward movementthe KAIA price closes below $0.230, it will put the long-term upward movement at risk and could lead to a deeper correction.
if#BinanceAirdropsCATandPENGU #MarketCorrectionBuyOrHODL? $SOL $BTC This currently seems unlikely because the RSI has not generated any bearish divergence. Rather, the ongoing decline is just a short-term correction before the long-term upward movement continues.