KAITO: Hyperliquid Opens $7.1M Longs as Price Drops 20%

Two fresh addresses opened cumulative $6.94 million in 5x long positions worth $7.106 million on Hyperliquid for KAITO, claiming the top two spots by size with margin sourced from OKX.

KAITO plunged nearly 20% over the past 24 hours, erasing much of this month's gains, and the positions now sit at $991,000 in unrealized losses though coordinated performance with larger players cannot be ruled out.

Price action on the 4-hour chart shows KAITO at $1.01 inside the Bollinger Bands, testing toward lower support at $0.98 while upper resistance sits at $1.26. The EMA50 at $1.12 functions as near-term resistance and the EMA200 at $0.9 as deeper support, with RSI at 39.99 and MACD at -0.02 confirming a death cross that points to a likely retracement toward the 50-EMA before any sustained move higher.