Keeta [KTA] was among the trending tokens on the day in terms of sentiment and price change. KTA rose by more than 15% at press time, as daily trading volume jumped 70%.
The token has had spells of rallies during the bear market in the past few months. KTA rallied after the Coinbase listing, and now partnerships with payment giants seem to be sparking market structure shifts.
How will KTA perform in the following sessions?
The 4-hour price action chart of KTA started this rally on the 21st of November, though the acceleration came after the breakout.
Keeta first faked a breakout to the downside after ranging for a month in a wedge pattern. Bears showed strength but met a bull wall at $0.18 that sparked the initial sign of potential reversal.
The reaction by bulls from the $0.18 zone faced a challenge at $0.30 after profit-taking, which was evident in the liquidity heatmap. A short sideways movement followed, which led to the market structure shift.
Source: TradingView
Upon closing some positions, the stochastic RSI revealed seller dominance. However, the Trend Strength Index (TSI) maintained that the bullish outlook was still intact at press time.
Going forward, if the trend continues, $0.60 looks to be a close target for the next few sessions. However, the price faced resistance in the zone between $0.40 and $0.45.
The liquidation heatmap indicated that massive orders around $0.25 were responsible for the breakout. The liquidation leverage showed that the pullback happened after the price broke above $0.30, which meant orders were closed.
Source: CoinGlass
Meanwhile, there were also orders that were forming below $0.25 that were more concentrated than those above $0.35. However, the clusters above the $0.35 zone were closer to the current price than those at $0.23.
What on-chain exchange flow data says!
On-chain data showed that outflows from exchanges were minimal but increased during the period when KTA was around $0.25. The largest withdrawal of 55K KTA happened just before the close of the previous day, as of press time.
Source: Arkham
After the rally, exchange inflows increased, confirming the profit-taking. In the meantime, the inflows into exchanges have massively dropped, though they are still present, suggesting capital withdrawal has eased.
Potentially, KTA could continue rallying toward $0.35 or higher.
Final Thoughts
- Keeta’s rally is fueled by strong technical momentum and strategic partnerships, but resistance at $0.40–$0.45 remains critical.
- Sustained capital inflows and supportive market sentiment could push KTA toward $0.60 in the near term.
