Top 3 in the Crypto Assets Pump Rankings! CRO reaches a new annual high, KAI breaks through strongly, and RAY's buyback support approaches 4 dollars.

The crypto assets market welcomed a rebound on August 28, with the three major popular assets – Cronos (CRO), Kaia (KAIA), and Raydium (RAY) – rising for several consecutive days, becoming the leaders in the percentage increase over the past 24 hours. CRO hit a new annual high driven by the news of Trump Media partnering with Cronos to establish the CRO Financial Company; KAIA strengthened due to a certain CEX exchange adopting its on-chain solution to support USDT transactions; while RAY saw a sharp reduction in circulating supply under a large-scale buyback plan, leading to a surge in demand.

CRO annual new high, bulls target 0.50 USD

(Source: Trading View)

Cronos (CRO) surged 35% and broke through the $0.3500 level, the highest since May 2022, while stabilizing above the 1.272 Fibonacci retracement level at $0.3295. Technical indicators suggest that if the upward trend continues, the next target will be the 1.618 Fibonacci retracement level at $0.5058, which is derived from the rise calculated from last November's high of $0.2353 to this February's low of $0.0682.

In terms of momentum indicators, the MACD and signal line continue to rise, with the RSI reaching 90, remaining in the overbought zone and slightly increasing, indicating that buying pressure is still strengthening. If CRO can hold above $0.3295, the probability of a rebound will further increase; conversely, falling below this level may test the support at $0.2353.

KAIA strengthens due to on-chain adoption, challenging 0.1844 USD

(Source: Trading View)

Kaia (KAIA) has risen over 7% for two consecutive days and is approaching the upper resistance trend line on the daily chart. On the news front, CEX exchange has adopted Kaia Chain to provide USDT trading functionality, significantly increasing market demand for KAIA.

If the daily close breaks the resistance at 0.1670 USD, it will likely further challenge the Fibonacci 50% retracement level of 0.1844 USD (calculated from last December's high of 0.4250 USD to this February's low of 0.0800 USD). The MACD has crossed above the signal line, and the RSI has risen to 59 and broken through the midpoint, indicating a return of buying momentum. If the breakout fails, KAI may test the psychological support at 0.1500 USD.

RAY buyback plan assists, bulls approach 4 USD

(Source: Trading View)

Raydium (RAY) rose over 7% on August 28, reporting at 3.86 USD, just a step away from the 4.00 USD mark. The Solana-based DeFi protocol recently launched a large-scale buyback plan, having repurchased 71 million RAY tokens, reducing the circulating supply by over 26%, which directly boosted market demand.

Technically, RAY is approaching the 61.8% Fibonacci retracement level of 4.31 USD (calculated from the January high of 8.70 USD to the April low of 1.38 USD). The RSI is at 61, rebounding from the midpoint, and the MACD is intertwined with the signal line, indicating a neutral short-term trend. If it breaks below the 50% retracement level of 3.47 USD, it may test the 50-day EMA at 3.11 USD.

Conclusion

The strong rise of CRO, KAIA, and RAY reflects the current capital rotation and warming sentiment in the crypto market. CRO still has room for upward movement after reaching a yearly high, KAIA is supported by on-chain adoption, and RAY has returned to a bullish outlook driven by the repurchase plan. Investors should closely monitor key technical levels and changes in on-chain data, as these factors will determine whether the upward trend can continue. For more real-time market data and in-depth analysis, please follow the official Gate platform.