I’m dreaming of a life-changing dream with
$KITE , but when I wake up and see a red-hot price like this, it looks like many people are getting ready to bring their goods out to "offer" them to the market, right?
The market never caters to weak hearts. Looking at the trading board right now, the FUD side must be pretty pleased because
$KITE has just had a slight correction of 1.77% to the 0.0942$ mark. But calm down, with my hard-earned experience, this is not the time to panic; it is the time to closely examine the technical indicators.
Below is my view based on the current MA/EMA data:
🔹 15-minute timeframe: The price is still below both MA(20) at 0.0976 and EMA(9) at 0.0956. This shows that short-term selling pressure is still dominant.
🔹 1-hour timeframe: MA(20) is at 0.0982 and EMA(9) is at 0.0971. Both of these lines are acting as strong overhead resistance.
Overall, the price is trapped below the moving averages. The SHORT side is in control in the short term. However, from an accumulation perspective, the price zone around 0.0940$ is showing signs that buyers want to hold the rhythm.
My personal trading setup for this move:
🎯 Position: SHORT (Trade the short-term downtrend until the MA resistance is broken).
🎯 Entry: Scale in around 0.0950$ - 0.0955$ (if there is a slight pullback).
🎯 Take Profit (TP): 0.0920$ - 0.0910$.
🎯 Stop Loss (SL): Absolutely at 0.0985$ (If the 1-hour EMA resistance is broken, then this SHORT scenario is considered invalid).
I choose a short-term, quick-profit approach to protect my position during a period when the market trend is still unclear. As for you guys, according to my technical analysis, could
$KITE pull off an unexpected PUMP to make things difficult for the SHORT side, or will it continue to drop deeper?
#Crypto #Trading #KITE
Note: This is a personal view, not investment advice. Trading always involves risk (DYOR).