Altcoins continue to shine not just on the top blockchains in the crypto space but even on the ones that are less well-known. One such is the Kaia network, which was noted to have a massive surge in users in April.
According to the data on Dune, the total monthly active users peaked at 22.63 million in April, with the addition of 8 million users. BeInCrypto has analyzed three of the top-performing altcoins on the Kaia Network for investors to watch heading into May.
Superwalk (GRND)
- Launch Date – September 2022
- Total Circulating Supply – 625.92 Million GRND
- Maximum Supply – 1 Billion GRND
- Fully Diluted Valuation (FDV) – $57.07 Million
GRND has risen by nearly 31% this month, but it is still short of recovering the losses from the end of March. The altcoin is currently trading above the critical support level of $0.0568, showing positive momentum. If GRND can maintain its position above this support, it could see further gains in the coming days.
Securing the $0.0568 support level is vital for GRND to continue its upward trajectory. The altcoin is aiming to breach the next resistance at $0.0627, which would help recover recent losses. Successfully surpassing this level would place GRND on track to reach $0.0696, a key target for future growth.
However, if GRND fails to hold above the $0.0568 support level, the bullish outlook could be at risk. A drop below this level would likely lead to a decline toward $0.0494, wiping out a significant portion of the recent gains. This would invalidate the current bullish thesis and signal a potential shift in market sentiment.
Kleva (KLEVA)
- Launch Date – December 2022
- Total Circulating Supply – 68.91 Million KLEVA
- Maximum Supply – 95.34 Million KLEVA
- Fully Diluted Valuation (FDV) – $5.75 Million
KLEVA has recently experienced both impressive and disappointing price action. The altcoin surged 119% at the beginning of last week, showing strong bullish momentum. However, in the last 48 hours, it has faced a 33% decline. This volatility reflects uncertainty in market sentiment, making the future direction unclear.
The recent drop has brought KLEVA down from $0.125 to $0.083, with the altcoin currently holding above the crucial $0.081 support level. If KLEVA manages to bounce off this support, it could attempt to recover by breaching the $0.092 resistance. Successfully surpassing this level would signal a potential rally.
However, if KLEVA fails to hold the $0.081 support, the bearish outlook could intensify. A drop below this level could lead to a decline toward $0.063, erasing much of the recent gains. This would invalidate the bullish thesis and raise concerns about a possible extended downtrend.
Marblex (MBX)
- Launch Date – May 2022
- Total Circulating Supply – 207.53 Million MBX
- Maximum Supply – 1 Billion MBX
- Fully Diluted Valuation (FDV) – $62.75 Million
Another one of the altcoins to watch, MBX, has experienced a 15% rise over the past 10 days, quickly recovering the losses from the end of March. As MBX nears $0.20, it will likely maintain its upward momentum. This improvement signals that MBX could continue its uptrend, potentially heading toward new resistance levels in the near future.
Currently holding above the crucial support level of $0.189, MBX is positioning itself to rally toward the next major resistance at $0.21. Surpassing this resistance would allow MBX to recover losses from the end of March, reinforcing the current bullish sentiment and attracting further investor interest.
However, the bullish outlook could be invalidated if MBX fails to hold above the $0.189 support. A fall below this level could lead to a decline, with potential drops to $0.177 or even $0.160. Such a move would undermine the current uptrend and signal a shift toward a bearish market sentiment for MBX.
The post Kaia Network Users Reach Record High, as KLEVA Soars 119% | Top Altcoins to Watch Today appeared first on BeInCrypto.