KAITO Market Analysis:
Today's KAITO five-minute candlestick chart shows a weak fluctuation pattern: opening at 2.3351, briefly peaking at 2.3379 before quickly declining, hitting a low of 2.3313, and closing at 2.3317. The fluctuation of only 0.28% exposes a stagnant market, with both bulls and bears lying flat, pretending to be dead; this kind of low-volume decline is the most mentally exhausting.
1. News Adds Insult to Injury
Early in the morning, a Federal Reserve official hinted at hawkishness, suggesting a delay in interest rate cuts, leading Bitcoin to initiate a downward trend with reduced volume, causing altcoins to follow suit. The KAITO/USDT trading pair saw a staggering 6 million sell orders stacked at the 2.3400 level, indicating the main force's blatant intention to suppress. On-chain monitoring shows that a certain whale address continuously deposited 3.8 million tokens into exchanges within 3 hours, along with the candlestick pattern, showcasing a typical high-level distribution tactic.
2. Technical Indicators Fully Turn Bearish
The current price is barely hanging above the mid-band. However, the upper and lower bands are rapidly narrowing, and the closing of the trumpet indicates an impending trend change, with the lower band at 2.2878 likely to be tested.
DIF: 0.0099 and DEA: 0.0092's "golden cross" is merely a joke, and the MACD histogram at 0.0015 is weak enough to be blown away by the wind. The inverted hook above the zero line is truly a trap to lure buyers.
Multiple levels of resistance/support: The upper level at 2.3400 has become a solid ceiling, and the 2.3900 area is heavily trapped with sell orders piling up like a mountain. The lower psychological level of 2.2500 is precarious, and if it truly breaks down, it could trigger a sell-off to 2.1500.
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