KAI Token re-tests bullish order Block, will the price pull back again?

According to Gate news and AmbCrypto report, on June 9, KAI (KAIA) successfully broke through the local resistance level of $0.130, rising 35.6% in a single day. This bullish market structure breakthrough has opened up an upward trend for KAIA. However, the fall of Bitcoin over the past two days has impacted KAIA, which faced a pullback at the resistance level of $0.196 at the end of January.

On Monday (June 23), during the European morning session, KAI rebounded alongside the cryptocurrency market, rising to around $0.198.

The cryptocurrency market may still be turbulent this week, with several key events taking place. Although the Kobeissi Letter optimistically pointed out that the U.S. crackdown on Iran could expedite the resolution of the conflict, this possibility may be slim, and investors may still maintain a pessimistic outlook.

As of the time of writing, KAI appears to still maintain a bullish outlook.

KAI will retest the bullish order block, what will happen next?

The 1-day chart highlights the bullish order block at $0.15, marked with a green box. As the market may be bearish in the coming week, the price could fall to that demand area in the next few days.

The OBV indicator shows that the selling volume is minimal. The trading volume indicator, like the KAI indicator, presents a significant upward trend, which means that the upward trend is supported by strong demand.

The Awesome Oscillator (AO) and moving averages are also showing bullish momentum. The AO does not appear to have any bearish divergence either.

The next resistance level above $0.196 is at $0.266, while the $0.150 and $0.141 levels seem to be support levels to watch.

The 1-month liquidation heat map does not outline many clear magnetic zones near the price. Around $0.202 (above the local high), there seems to be an accumulation of short liquidations. The levels of $0.144 and $0.12 will be the next liquidity support levels for the price to move south.

The level of $0.144 aligns with the support level of $0.141, while the 20-day moving average is at $0.147, slightly below the bullish order block. The combined effect of these factors suggests that the $0.140-$0.150 area may present buying opportunities for KAI, especially given the high likelihood of a bullish trend in that area.

(Source: Trading View)