Keeta: Why KTA couldn’t hold $0.24 despite a major UAE partnership

Keeta [KTA] has seen notable fundamental improvements that continue to shape its price action. Initially, its payment infrastructure launch drove the altcoin higher, sparking a 37% surge on strong trading activity.

Over the past 24 hours, KTA rallied another 15% at press time, after announcing a new partnership with the UAE’s ASK Group. Here’s what the deal involves:

Fundamentals and activity power KTA price action

According to a post by Keeta Network on X (formerly Twitter), the blockchain has formed a joint venture to tokenize Gulf commodities and modernize cross‑border payments across the Middle East, Africa, and Asia. These assets will be available worldwide.

This initiative drove a shift in where on-chain volume surged by 500%, reaching $10 million. Not only was volume present, but also on-chain liquidity. Additionally, the Total Value Locked (TVL) rose by 15% in the past 24 hours, surpassing $152K. However, the figures were minimal compared to other popular blockchains.

Moreover, the number of KTA holders was rising, with the current reading at 22,371. As per Nansen AI, the Distribution Score was at 16, indicating healthy organic spread.

This increase in the number of holders resulted in exchange balances declining by 2.61% during this period.

Can KTA bulls sustain the rally long enough?

On the charts, KTA price was rising but failing to stay above previous resistance levels. It swept liquidity at $0.2252 and surged to a daily peak of $0.24 but instantly rejected this breakout.

Notably, KTA price was trading above the Ichimoku Cloud, showing bullish strength. However, its price was declining, potentially to test the flip of this indicator. Meanwhile, the significant decline in buying explains why KTA did not match the $0.26 price level.

The CVD showed a maximum of 2.12 million KTA tokens bought, but it has since declined to more than 138K tokens sold. This trend indicates that bulls are taking profits, which is why the rally cannot be maintained.

KTA’s price reaction to this news showed a classic ‘buy the rumor and sell the news’; hence, the token sold off after hitting $0.24. Therefore, it suggests the fundamentals alone cannot help bulls sustain this rally.

 Final Summary

• Keeta Network rallies 15% upon partnership with the UAE’s ASK Group to tokenize commodities and modernize cross-border payments. 
• KTA price swept liquidity at $0.24 and started declining but still stays above the Ichimoku Cloud, suggesting bulls are still present.