• Kaito Launchpad has received more than $170 million worth of funds from investors, with more still seeking to have a share. 
• The price of the token has risen over the $1.45 mark, and chart analysts anticipate that the next target is the $1.50 level. 
• RSI and MACD are on a positive outlook as the volume of futures trading increased by 238% within a single day. 

Kaito achieved a major milestone when its launchpad exceeded $170 million in pledged allocations. This has been achieved only seven weeks after Kaito was launched. As a result, there are many who are now more optimistic about the KAITO token. The token price had surged beyond $1.45, and according to the technical charts, $1.50 is the next target.

A Rapidly Expanding Fundraising

As a new capital fundraising platform, the Kaito Capital Launchpad is among the fastest-growing platforms this year. There are seven other projects that have been launched or fully funded already. PlayAI and Everlyn are two of them, and they sold out fast. The most is by a prediction market project, named Limitless. It was oversubscribed 3.7 times.

Kaito prioritizes users who have high on-chain engagement and social status. One-third of the funds will go to Kaito stakers and the best community members.

Hence, several retail and institutional investors are vying to secure positions, causing huge excitement. The speed of the launchpad demonstrates that one of the prominent contributors to the ongoing market narrative is AI projects.

A Powerful Recovery

According to TradingView statistics, the token is trading higher than $1.40 with a daily high of $1.4564. Technical indicators suggest that the next resistance level will be at $1.50. If the price breakout is very strong, it could trend up to the Fibonacci extension of $1.62.

The retracements clearly show the support levels. Line 0.618 shows support is close to $1.12, while the 0.5 line suggests it’s close to $1.08. However, the 0.236 line indicates $1 as the lowest support zone.

The bullish pattern has the chance of becoming weak in case the price drops below $1.20. The VWAP session at $1.399 proves that buyers are dictating the short-term trend. 

Fib. and VAWP. Source: TradingView

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A Sharp Buying Interest 

The Relative Strength Index stands at 78 indicates that Kaito is overbought. The token has maintained this level of RSI for several days, which indicates that buyers are still acquiring more of the token.

In addition, the MACD has become positive and displays an upward divergence. The MACD line is now crossing the signal line at a point over the zero line. Also, the histogram is widening, which is favorable to the bulls. Together, the RSI and MACD signal that momentum is pointing towards further gains, even if near-term corrections occur.

RSI and MACD. Source: TradingView

More Leveraged Positions 

According to Coinglass data, the futures volume has increased by over 238% in a single day to reach $2.45 billion. The open interest increased by more than 70% to $147.7 million. Such increases indicate that leveraged traders are entering the market in anticipation of sharp price swings.

Bullish technical trends and rapid developments in the Kaito ecosystem have placed the token under the limelight. Still, traders are cautious of its overbought conditions and an increased liquidation risk.

Source: Coinglass

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