Kaito Price Drops 20%, Traders Open Massive Long Positions

Kaito's price has dropped nearly 20% over the past 24 hours, erasing much of its gains this month. In response, two fresh addresses opened large long positions on Hyperliquid, with a total value of $7.1 million and a margin sourced from OKX.

The positions now sit at $991,000 in unrealized losses, but the traders' coordinated performance with larger players cannot be ruled out. The price action on the 4-hour chart shows Kaito testing lower support at $0.98 after reaching $1.01 inside the Bollinger Bands.

The technical indicators suggest a likely retracement toward the 50-EMA before any sustained move higher. The EMA200 at $0.9 functions as deeper support, while the upper resistance sits at $1.26.