KAITO has recently experienced a slight drop from its all-time high (ATH) of $2.92, which it reached just two days ago. The altcoin is now attempting to reclaim that peak, but the broader market cues are exerting downward pressure. 

KAITO’s recovery depends heavily on Bitcoin’s performance, with both coins showing an increasing correlation in price movements.

KAITO Needs Support

KAITO’s correlation with Bitcoin has been rising, suggesting that it closely follows Bitcoin’s market trends. This uptick in correlation indicates that KAITO’s price movement is becoming more aligned with BTC’s actions. 

As Bitcoin recovers from its intra-day low of $78,250, reaching a trading price of $84,719, the broader market sentiment could shift. If Bitcoin continues its upward trajectory, KAITO’s price could follow suit, assuming the correlation strengthens further.

However, despite this potential for upward momentum, traders are still skeptical. The negative funding rate of KAITO, which has increased over the past 24 hours, reveals that many are betting against the altcoin. 

Short contracts have dominated over long contracts, showing the traders’ reluctance to fully back KAITO’s recovery at this moment. The mixed signals from market sentiment point to a level of uncertainty that could stall KAITO’s price movement in the short term.

KAITO Price Attempts Recovery

KAITO’s price is currently sitting at $2.22, just below the resistance level of $2.26. While the broader market conditions seem favorable for a potential recovery, traders’ sentiment remains cautious.

KAITO is attempting to breach this resistance, but if the negative funding rate continues, it may struggle to secure further gains.

Given the mixed signals, KAITO may continue to trade within a range between $1.86 and $2.44 in the near term. This consolidation suggests that the altcoin could remain trapped under $2.44, a critical resistance level.

A successful breach of $2.44 would indicate the possibility of a rally, with the potential for KAITO to break its ATH of $2.92 and reach above $3.00.

A failure to break the $2.44 resistance level could result in KAITO consolidating under this price point, with the altcoin remaining stuck within the same range. A breach of $1.86 would further invalidate the bullish outlook, signaling a possible continuation of the downtrend.

Key figures in the crypto space, including Ethereum co-founder Vitalik Buterin, are advocating for former Bitcoin evangelist Roger Ver to receive a presidential pardon from Donald Trump.

Ver, often called “Bitcoin Jesus,” was arrested in February 2024 while attending a crypto conference in Barcelona, Spain. He faces charges in the US for allegedly evading over $48 million in taxes and filing a false tax return.

Industry Figures Question Legal Motives Behind Roger Ver’s Prosecution

Over the past months, Vitalik Buterin and other industry players have raised concerns about the severity of Ver’s prosecution.

Today, Buterin suggested that authorities may be targeting Ver because of his outspoken views on personal freedoms. He argued that the government should focus on recovering unpaid taxes rather than pursuing harsh legal action.

“The case against Roger seems very politically motivated; like with Ross Ulbricht, there have been plenty of people and corporations who have been accused of far worse and yet faced sentences far milder than what Roger is facing,” Buterin argued.

Considering this, the Ethereum co-founder proposed that the authorities should allow Ver to settle any outstanding taxes instead of imprisonment.

“Genuine good faith mistakes should be treated by giving the actor the opportunity to pay back taxes if needed with interest and penalties, not with prosecution,” Buterin concluded.

Similarly, Ross Ulbricht, the former Silk Road operator who recently secured clemency, has also backed Ver’s case.

“No one should spend the rest of their life in prison over taxes. Let him pay the tax (if any) and be done with it,” Ulbricht stated.

Ulbricht’s supporters had long argued that his own sentencing was excessively harsh, and now, many in the crypto space see parallels in Ver’s legal battle.

Jesse Powell, co-founder of Kraken, has questioned the credibility of the charges, suggesting that authorities are deliberately making Ver’s life difficult.

“The reality is, they just don’t like him and they want to get him, and they will use any excuse they can to get him or make his life hell for as long as they can,” Powell said.

Meanwhile, Ver himself has taken to social media, appealing directly to President Donald Trump. In January, he wrote that he needed the President’s help to deliver justice. He also shared a video describing himself as a victim of political persecution.

More recently, he suggested that his case was politically motivated, saying:

“I have always tried to pay what the law requires. This isn’t about taxes.”

Despite these efforts, predictions market odds on Polymarket show only a 7% chance that Trump will pardon Ver within his first 100 days in office.

This low probability may be partly due to Elon Musk’s stance on the matter. Now leading the Trump administration’s Department of Government Efficiency (DOGE), Musk has dismissed the possibility of a pardon.

The Tesla CEO argued that Ver forfeited his right to clemency by giving up his US citizenship.

“Roger Ver gave up his US citizenship. No pardon for Ver. Membership has its privileges,” Musk said.

Overall, most of the crypto community thinks Ver’s prosecution is extremely disproportionate to the alleged charges. Yet, Ver’s current residency in Spain might impact his plea to the US President.

The TRUMP meme coin has been in a continuous downtrend for the past month, failing to break above the $21.45 barrier. The token fell below $12 earlier in the week but recovered after the political clash between US President Donald Trump and Ukrainian President Zelensky.

Despite being up by 8% today, technical indicators show persistent bearish pressure as the meme coin struggles to find a support level.

TRUMP Is Facing Bearish Pressure

The investor sentiment surrounding TRUMP has been largely negative in recent days. As the political showdown between Trump and Zelensky created significant buzz on social media, the meme coin saw some buying actions today, but the overall momentum remains notably low.

This reflects a lack of confidence in any immediate price recovery. 

Negative sentiment surrounding political conditions is likely to discourage new investments, which will only deepen TRUMP’s ongoing price drawdown. This overall atmosphere suggests that further declines are possible unless significant changes occur.

The technical indicators for TRUMP reflect the overall negative market sentiment. The Chaikin Money Flow (CMF) indicator, which tracks the accumulation and distribution of an asset, shows a clear downward trend.

The CMF has failed to secure the zero line as support, indicating that the inflows that once kept the altcoin afloat have turned into outflows. 

This reflects weakening investor confidence, exacerbated by the ongoing political tension and the lack of bullish triggers for the asset. Without a shift in the broader market or sentiment, the downward pressure on TRUMP’s price is expected to continue.

TRUMP Price May Fall Further

TRUMP’s price has recently hit a new low of $11.07, marking a significant drop from its previous levels. At the time of writing, the altcoin has managed to recover slightly to $13.12, but it remains stuck below the critical resistance of $14.48.

This barrier has proven difficult to overcome, indicating that the altcoin could continue its struggle in the short term.

If the bearish momentum persists due to political factors like Trump’s tariff policies, TRUMP could slide even further. The next potential support level lies at $11.07, and if this fails, the altcoin could fall below $10.00, deepening losses for investors.

Given the current conditions, the price may continue its downtrend unless broader market cues shift.

Although the likelihood of breaking through the $14.48 resistance seems low, positive developments in the broader market could bring some relief. If this happens, TRUMP could attempt to flip the $16.00 level into support, but it would likely face consolidation below the key $21.45 barrier.