Post

$KITE The price is in a short-term downtrend. After reaching a peak near 0.2499, KITE continuously created lower highs and broke many important support levels. The nearest candle is a strong red tree that fell deep to 0.1669 and then bounced slightly. MA line: • MA5 (0.1903) & MA10 (0.1955) are above the price → the selling pressure is still great. • MA20 (0.2064) and MA30 (0.2010) are strong resistance above. Support - Resistance: • Close support: 0.1669 – 0.1600 • Near resistance: 0.1850 – 0.1900 (MA5) • Strong resistance: 0.1955 – 0.2064 Conclusion: The main trend is still decreasing. Today's recovery is just a technical rebound in the downtrend. Volume is not strong enough to confirm a reversal. Recommendation: Wait for the price to stabilize above 0.1900 or the volume increases sharply to consider buying. Currently, the risk is still high, priority is to observe or trade short-term scalp.